Topic Benefits Of Participating In Trade Fairs.pdf

-DISCUSSION GROUP 6SUBJECT ENGLISH 2

BENEFITS OF PARTICIPATING IN TRADE FAIRS

Teaching faculty: Ths Bui Viet ThuClass code: 232_ENTI1012_53

H Nô i, 2024

PRESENTATION ASSESSMENT

21 Đ Th Thanh 21D300181 + About 2.2 Exchanging experiences and learning + Make a presentation in PowerPoint

22 V& Th Thanh 21D190194 + About 2.1 Direct sales opportunities and generating leads + Synthesize and make a

MEETING MINUTE (01) – GROUP 06

Location: Google Meet

Members: 04/04

Contents for discussion:

to do, the main content of the discussion, and how many directions to exploit the

topic Conclusion:

1 Topic selection “BENEFITS OF PARTICIPATING IN TRADE FAIRS”

2 Divide the task of finding topics and information Duties

for members:

- Secretary: V& Th Thanh

- Members give opinions on the topic and contribute to the topic - Members duties:

+ Content includes: all members

+ Powerpoint: Đ Th Thanh, Tr-n Th Hương Th1o + Word: V& Th Thanh

MEETING MINUTE (02) – GROUP 06

Location: Google Meet

Members: 04/04

Contents for discussion:

1.Edit the content of each post

Conclusion:

Reviewing presentations and commenting on members' scores

Duties for members:

OUTLINE PRESENTATION

I INTRODUCTION 1

II BENEFITS OF PARTICIPATING IN TRADE FAIRS 2

2.1 Direct sales opportunities and generating leads 2

a Opportunities to sell products to the attendees 2

b Accessing potential customers 2

2.2 Exchanging experiences and learning 3

a Meeting and connecting with other businesses 3

b Sharing knowledge and experiences within the industry 4

2.3 Market research and competitive analysis 5

a Getting feedback directly from customers 6

b Learning from competitors’ activities 7

III CONCLUSION 8

3.1 Recap of benefits of participating in trade fairs 8

3.2 Final thoughts and suggestions 8

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I INTRODUCTION

In the era of economic integration, businesses are engaged in fierce competition to establish their presence in the market, constantly adapting to improve product quality and expand their brand reach Among various commercial strategies, participation in exhibitions and trade shows, from domestic to international, emerges as one of the most effective ways to promote products, services, and brands.

Trade fairs serve as powerful marketing channels, gathering numerous global buyers and sellers in a concentrated timeframe and location Despite the availability of multiple avenues for exploring products and suppliers, the advantages offered by trade fairs remain unparalleled

To delve deeper into the practical benefits of trade fairs, our group has chosen to focus this essay on the topic "Benefits of participating in trade fairs." We have divided these advantages into three main sections:

1 Direct sales opportunities and generating leads 2 Exchanging experiences and learning 3 Market research and competitive analysis.

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II BENEFITS OF PARTICIPATING IN TRADE FAIRS

2.1 Direct sales opportunities and generating leads

Participation in trade fairs presents significant benefits for businesses,

show more clearly that.

a Opportunities to sell products to the attendees

Trade fairs represent an exceptional avenue for businesses to exhibit and market their offerings directly to a wide array of participants Especially at trade fairs, businesses prepare a team of professional staff, knowledgeable about products and ready to advise and answer questions from customers Furthermore, recognizing the significance of such gatherings, businesses strategically orchestrate compelling promotional campaigns and incentives to entice patrons towards making purchases onsite, thereby fostering immediate sales gratification Additionally, trade fairs serve as experiential playgrounds for consumers, allowing them to engage in hands-on product testing before committing to a purchase This interactive experience not only amplifies the likelihood of successful sales but also contributes to a reduction in post-purchase return rates, thereby solidifying customer satisfaction and loyalty.

b Accessing potential customers

Reaching potential customers stands as a pivotal pillar within every business's strategic framework Deliberate investments in captivating and remarkable booth designs serve as magnets for drawing the gaze of passersby Engaging in trade fairs not only facilitates businesses in connecting with their

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target audience but also fosters direct interactions with prospective customers This engagement cultivates avenues for nurturing relationships, instilling trust, and captivating customer interest, consequently elevating the probability of achieving sales triumph and propelling business expansion Moreover, the immersive experience provided by trade fairs fosters memorable encounters, imprinting a lasting impression on attendees and further solidifying brand recognition and loyalty.

Participating in CES 2023, FPT introduced advanced technology solutions Thanks to the design of modern and attractive booths, showcasing flagship technology products such as FPT Robin robot, FPT Camera AI camera, FPT Play Box Combined with the implementation of attractive promotion programs

=> Attracting many potential customers from countries around the world As a result, FPT signed contracts worth more than 100 million USD with international partners and increased by 30% the number of potential customers interested in FPT's technology solutions FPT Group's participation at CES 2023 has demonstrated these benefits, bringing lucrative contracts with international partners and increasing the number of potential customers for businesses.

2.2 Exchanging experiences and learning

Participating in trade fairs offers a multitude of benefits for businesses, with one of the key advantages being the opportunity for exchanging experiences and learning This can be achieved through two main avenues:

a Meeting and connecting with other businesses

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Trade fairs serve as a hub for professionals, experts, potential clients, suppliers, and competitors to converge, offering a fertile ground for networking activities Booth exhibitions, seminars, workshops, and interactive sessions foster interactions among participants, facilitating the exchange of ideas, experiences, and contacts

Engaging in conversations with fellow exhibitors or attendees allows businesses to expand their professional network, establish rapport, and cultivate mutually beneficial relationships Moreover, the informal ambiance of trade fairs fosters an atmosphere conducive to open communication and relationship-building, enabling attendees to connect on a more personal level.

Example:

One specific example of a company that excels in meeting and connecting with other businesses through trade fairs is Alibaba Group Alibaba Group is a global e-commerce and technology company based in China that organizes and participates in various trade fairs and industry events to meet and connect with other businesses Alibaba Group hosts the annual Alibaba Global Sourcing Expo, which brings together thousands of suppliers, manufacturers, and buyers from around the world to showcase products, explore business opportunities, and build partnerships This trade fair serves as a platform for Alibaba Group to connect with other businesses, establish relationships, and facilitate trade collaborations.

In conclusion, meeting and connecting with other businesses at trade fairs not only fosters collaboration and knowledge sharing but also opens up avenues for growth, innovation, and market expansion The networking opportunities and insights gained from such interactions can be instrumental in driving business success and establishing a competitive edge in the industry.

b Sharing knowledge and experiences within the industry

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In addition to networking, trade fairs often feature educational components such as seminars, panel discussions, and product demonstrations, enriching participants' knowledge and expertise within the industry These educational opportunities provide insights into emerging trends, innovative technologies, best practices, and market developments

By attending workshops or presentations, businesses can stay abreast of the latest industry advancements, enhance their skills, and gain valuable insights into addressing challenges or seizing opportunities

Furthermore, the opportunity to interact with industry experts and thought leaders during these educational sessions enriches the learning experience, fostering intellectual stimulation and idea exchange.

One specific example of a company that excels in sharing knowledge and experiences within the industry in the context of trade fairs is BMW Group BMW Group is a global automotive company that actively participates in trade fairs and industry events to share knowledge and experiences with industry stakeholders At trade fairs, BMW Group not only presents its own achievements but also engages in panel discussions, workshops, and networking sessions to exchange knowledge and experiences with other industry players This collaborative approach helps BMW Group stay at the forefront of industry trends, foster partnerships, and drive innovation in the automotive sector.

In summary, participating in trade fairs offers a platform for industry professionals to share knowledge, experiences, and insights that contribute to professional development, market awareness, and business growth The collaborative environment of trade fairs facilitates the exchange of ideas and fosters a culture of continuous learning and improvement within the industry.

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2.3 Market research and competitive analysis

Participating in trade fairs offers numerous benefits in terms of market research and competitive analysis, especially in receiving direct feedback from customers and learning from the activities of competitors.

a Getting feedback directly from customers

- Immediate customer reactions: Trade fairs provide a direct platform for

customers to interact with products and services, allowing businesses to observe immediate reactions, preferences, and criticisms from potential buyers.

- In-depth insights: Direct feedback from customers at trade fairs can provide

businesses with in-depth insights into consumer behavior, preferences, and needs, helping them tailor their products and marketing strategies accordingly.

- Opportunity for product improvement: By listening to customer feedback at

trade fairs, businesses can identify areas for improvement, address concerns, and make necessary adjustments to enhance product offerings.

Examples:

Brand Apple or Apple Inc is the world's leading multinational technology corporation This is a famous corporation in the design and development of electronic devices, computer software and a number of other online services.

Most of Apple's products are in the high-end segment, receiving the trust of customers around the world Receiving support from customers around the world, Apple has been increasingly expanding its influence in the market and making competitors wary To become the market leader in technology products, Apple has strategies to analyze customer needs and analyze competitors extremely thoroughly through trade shows.

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At the annual trade fair showcasing innovative tech gadgets, Apple introduced its new smartphone model By observing visitors' reactions, the company notices enthusiastic responses to the sleek design but mixed reviews about battery life, prompting them to consider improvements They conducted a quick survey right at the trade fairs and collected feedback on product preferences

b Learning from competitors’ activities

- Competitive benchmarking: Observing competitors at trade fairs allows

businesses to benchmark their own products, services, and strategies against industry peers, helping them identify strengths and weaknesses in comparison.

- Market trends analysis: Monitoring competitors' activities at trade fairs can

provide valuable insights into emerging market trends, innovative approaches, and consumer preferences, enabling businesses to stay ahead of the curve and adapt their strategies accordingly.

- Strategic planning: By studying competitors' tactics, pricing strategies, and

promotional activities at trade fairs, businesses can refine their own strategic planning, differentiate themselves in the market, and capitalize on untapped opportunities for growth.

Examples:

Also at technology fairs held every year, Apple not only displays products to collect customer feedback, but they also observe competitors' demonstrations about new features that help improve user experience This completes the work focused on enhancing their own user interface to stay competitive in the market.

In conclusion, participating in trade fairs for market research and competitive analysis not only allows businesses to receive direct feedback from customers but also provides a valuable opportunity to learn from the activities of competitors, enabling strategic decision-making, product improvement, and market positioning 7 | P a g e

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III CONCLUSION

3.1 Recap of benefits of participating in trade fairs

We have explored the significant benefits that trade fairs bring to participants, including opportunities for direct sales, cultivating potential customer databases from fair visitors, fostering connections, business collaborations, and knowledge exchange with industry peers and influencers, and gaining direct feedback from customers while analyzing competitors' activities for market research purposes

Moreover, within each content section, we have highlighted the benefits experienced by exemplary companies such as Apple, Alibaba, and FPT Corporation, who have effectively leveraged trade fair participation to achieve substantial business outcomes and gain competitive advantages The lessons learned from these companies can serve as valuable insights for businesses across various industries.

3.2 Final thoughts and suggestions

Beyond the outlined benefits, trade fairs also offer additional opportunities and value, such as enhancing brand image, effectively launching new products, and facilitating international business activities The specific benefits obtained by each participating business may vary depending on their objectives

However, it is crucial to understand the core essence of trade fairs as physical platforms connecting businesses, customers, industry experts, and products This is something that e-commerce and the internet cannot replicate

Furthermore, trade fairs are not exclusive to large corporations; they are also ideal destinations for small and medium-sized enterprises and startups entering the 9 | P a g e