A trade fair is an event that allows firms in a particular industry and their customers to network. These typically revolve around presentations, discussion sessions, product demonstrations and sponsored booths set up by firms in the industry. The following are common functions of a trade fair.
Business-to-business SalesTrade fairs are of major importance to sales in industries that sell directly to businesses. For example, a software firm that sells to large financial institutions may only have a few hundred target customers. In this context, establishing as many industry relationships as possible is a critical activity.
Trade MarketingSelling to wholesalers, distributors and retailers. For example, fashion weeks play an important role in selling to fashion buyers.
Customer MarketingIn some cases, trade fairs are open to the public. For example, auto shows may open to the public on certain days. Keeping an eye on your competition.
Media RelationsGenerating publicity for brands, products, designs and ideas.
Industry NetworkingIndustry networking may lead to partnerships, mergers and acquisitions.
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