Trade shows are a major portion of the marketing mix in the industrial marketplace.
Trade shows, trade fairs, trade events, expositions, business exhibitions, conferences, conventions. The name may vary but the basic function of the activity represents a major industry marketing event.
They are “events that bring together, under a single roof, a group of people who set up physical exhibits of their products and services from a given industry ”.
There are some advantages and disadvantages of trade show usage.
The advantages of trade show include:
- a message delivered to a large number of qualified interested people who get influenced and generate interest in a specific exhibited product or service
- introduction of new products to a large number of people
- Exposing promising customer
- enhancing goodwill
- gaining company publicity
- improving corporate image
- gathering competitor information
The disadvantages of trade show include:
- confusing environment found in large shows
- excessive frequency of trade shows
- high and rising costs of participation
In a nutshell Trade shows have both pros and cons but I personally look into it's advantages as it offers an opportunity to showcase its products in one location, and also it can create awareness in new prospects, reinforce existing customer relationships, provide product demonstrations for evaluation, and allow sales of products on the spot.
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In my opinion, trade shows are not worth the money. They are very costly and the return is in the negative. My current company, unfortunately, does about 100 trade shows a year. They probably spend about $800,000 a year on trade shows, and average about $80,000 a year on sales directly from them. Attendance for both exhibitors and attendees has declined greatly in the past 20 years. We are an educational company with sales of about 22 million a year. Management does not listen to feedback from those working the shows that they should not be done again, that they should be done biennually, or that they're overstaffed. Also, we have a director who thinks we should be every where. Both these mindsets ticks off the sales staff b/c we're not listened to and always here about sales goals.
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