Specialized english 2 topic “preparations for a trade fair purposes and benefits of trade fair

Definition of trade fair A trade fair, also known as a trade show or exhibition, is an organized event where companies and organizations from a particular industry come together to showc

TRƯỜNG ĐẠI HỌC THƯƠNG MẠI

BÀI THẢO LUẬN Subject: Specialized English 2 TOPIC: “PREPARATIONS FOR A TRADE FAIR: PURPOSES AND BENEFITS OF

TRADE FAIR”

Hà Nội – 2023

DANH SÁCH THÀNH VIÊN NHÓM 2

I INTRODUCTION 4

II CONTENT 4

1 Definition of trade fair 4

2 Purposes of trade fair 4

2.1 Marketing and Promotion 4

2.2 Networking and Relationship Building 4

2.3 Sales and Revenue Generation 4

2.4 Education and Learning 5

2.5 Recruitment 5

2.6 Government Relations 5

3 How to prepare for a successful trade fair 5

3.1 Choose the right exhibition for your business 5

3.2 Plan to prepare for the exhibition 6

3.3 Booth rental costs 6

3.4 Choose a prominent booth location 7

3.5 How to save the most cost 7

4 Benefits of trade fair 8

4.1 Doing business and boosting sales 8

4.2 Reach new target groups and cooperation partners 8

4.3 Showing presence, building trust and retaining customers 8

4.4 Opportunities for training 9

4.5 Gaining market share 9

4.6 Personal networking as a door openers 9

4.7 Getting direct feedbacks on your own products 10

4.8 Discovery industry trends 11

4.9 Using trade fairs as a communication events 11

4.10 Motivating employee and winning new ones 11

III Conclusion 12

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I INTRODUCTION

Trade fairs have been a crucial sales and marketing tool for centuries They allow businesses to showcase their goods, disperse knowledge and talk about industry trends in

a tailored environment If you’re looking for alternative ways to market your business – something that is not reliant on technology or mainstream appeal – that is trade fair

II CONTENT

1 Definition of trade fair

A trade fair, also known as a trade show or exhibition, is an organized event where companies and organizations from a particular industry come together to showcase their products and services to potential customers, partners, and investors

Trade fairs are usually held at a specific venue for a limited period, ranging from a few days to several weeks They provide a platform for exhibitors to demonstrate their latest products and technologies, network with other businesses, and gain exposure to new markets Trade fairs can be either general or specialized, and they are often attended by industry professionals, buyers, journalists, and members of the general public interested in the showcased products and services

2 Purposes of trade fair

2.1 Marketing and Promotion

Trade fairs provide an excellent platform for companies to showcase their products

or services to potential customers and partners Exhibitors can demonstrate their products, distribute promotional materials, and engage with visitors to generate interest and awareness Trade fairs also provide a unique opportunity to launch new products, build brand recognition, and create a positive image for the company

2.2 Networking and Relationship Building

Trade fairs bring together industry professionals, buyers, and suppliers from different parts of the world, providing a unique opportunity for networking and relationship building Exhibitors can meet with potential customers, partners, and suppliers to discuss business opportunities, exchange ideas, and explore potential collaborations Trade fairs also provide a platform for exhibitors to learn about the latest industry trends and innovations, and to keep up-to-date with their competitors

2.3 Sales and Revenue Generation

Trade fairs can be an effective way to generate sales and revenue for companies Exhibitors can take orders for their products and services, negotiate deals with potential customers and partners, and generate leads for future business opportunities By showcasing their products and services at a trade fair, companies can increase their visibility, expand their customer base, and ultimately boost their sales and revenue 2.4 Education and Learning

Trade fairs often offer seminars, workshops, and other educational opportunities for attendees to learn about new technologies, industry trends, and best practices These educational sessions can provide valuable insights and knowledge for exhibitors and attendees alike, helping them stay up-to-date with the latest developments in their field 2.5 Recruitment

Trade fairs can also serve as a platform for companies to recruit new employees Exhibitors can use the opportunity to meet potential candidates, conduct interviews, and even make job offers on the spot This can be particularly beneficial for companies looking to fill specialized or technical roles

2.6 Government Relations

Trade fairs can also be an opportunity for companies to meet with government officials and policymakers to discuss issues affecting their industry Exhibitors can use the platform to lobby for changes in regulations or to advocate for policies that support their business interests

Overall, trade fairs can provide a range of benefits for companies and attendees, including marketing and promotion, networking and relationship building, sales and revenue generation, education and learning, recruitment, and government relations

3 How to prepare for a successful trade fair

Attending a trade fair can offer numerous promotional benefits to your business Then we discuss the benefits of trade fairs and offer you advice on how to prepare for these events

3.1 Choose the right exhibition for your business

It is important that you choose the right exhibition for your products and the company Avoid making the mistake of being loyal to specific trade fairs even if they’re not bringing any results You should choose the biggest and most popular shows that can get a good return on investment Before you start making a list of shows that you want to

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attend this year, it is necessary to define your strategies You and your team need to be aware of the fact that what you are going to exhibit at your exhibition stands Highlight reasons for the need to exhibit your products at the exhibition stand and pin down key objectives before you spend money on the show Second, research all your options to make the process simple, categorize the possible list of shows by country, industry, date, size or price You also need to figure out the target audience at your exhibition stand Your consumer’s interest is your key to success It’s crucial that you have a clear idea of the percentage of attendees that fit your customer profile Also consider the location of your exhibition stand at the trade fair before you go exhibiting

3.2 Plan to prepare for the exhibition

You should plan trade fair exhibit well before the show It may take your company from a month to a year depending on organizational units Normally, they should be pre-planning the show by setting your goals and understanding how trade fair marketing will get you there when you receive the decision to join in And they need to prepare something, such as marketing materials & booth designs, travel & logistics details, and details around the event planning Then, one week before the show, with the planning completed, it’s time to get ready for the trip! Your company should re-confirm shipping arrival dates for your trade fair booth display, promotional items, and other print materials, double check that all action steps on timeline have been covered, print out exhibitor badge ahead of time to avoid long lines at trade fair registration

3.3 Booth rental costs

When considering your trade fair budget, you have to take into account all expenses, not just the booth The cost of an exhibition stand depends directly on: The size of the booth construction (building area, the height of the walls of the structure, storey, and so on)

The type and number of components that the exhibition construction will consist of (depends on the size of the stand, the complexity of the design, and the finishing materials used)

Materials used in stands construction (the use of green technologies for material production, as well as parts of the construction that are recyclable, will increase the cost of building an exhibition stands)

Additional services and equipment will be needed to implement the project

Summary, booth rental costs have some benefits with the company, such as: avoid wasting money, in line with the budget of the business, and help businesses achieve high efficiency when participating in trade fairs

3.4 Choose a prominent booth location

Choosing a prominent booth location for a trade fair can be critical to the success

of your exhibit You should determine where the main entrances, registration areas, and popular attractions will be located Ideally, your booth should be located in a well-lit area, free of obstructions and easily visible from a distance If you are located near a popular speaker or exhibit, you may be able to benefit from increased traffic

Consider whether your booth will be in a high-traffic area or if it will be in a quieter area You should prepare to pay more for a highly desirable location By considering these factors, you can choose a prominent booth location that maximizes your visibility and helps you achieve your trade fair goals

3.5 How to save the most cost

Participating in a trade fair can be a costly investment, but there are several ways to save money and minimize costs You should:

Start planning early and take advantage of early-bird discounts offered by organizers This will help you secure a good location for your booth at a lower cost

Share a booth: Consider sharing a booth with another company that complements your business This can help you save on booth rental costs, and you may also be able to split the cost of promotional materials, furniture, and other expenses Attend local trade fairs: Attend local trade fairs instead of traveling to distant locations This will help you save on travelling and accommodation costs, and you'll also be able to reach a local audience

Negotiate with vendors: Negotiate with vendors to get better rates on services such

as shipping, booth installation, and utilities

Use social media for promotion: Use social media platforms to promote your participation in the trade fair This is a cost-effective way to reach a wider audience and attract more visitors to your booth

4 Benefits of trade fair

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4.1 Doing business and boosting sales

Participating in a trade fair can be an excellent opportunity to showcase your products or services, network with potential customers and partners, and boost your sales This includes identifying your goals, designing your booth, preparing promotional materials, and training your staff You can use eye-catching graphics, lighting, and other creative elements to make your booth visually appealing Be approachable, ask questions, and provide information about your products or services This can be an effective way to showcase the benefits of your products and encourage visitors to make a purchase Follow

up with them after the trade fair to continue the conversation and close sales By following these tips, you can maximize your opportunities to do business and boost your sales at a trade fair

4.2 Reach new target groups and cooperation partners

The high numbers of visitors make trade fairs one of the most effective means of communication With so many existing and potential customers clustered in one location, businesses can discover and attract more new target groups In addition to the target customer groups that businesses have researched and have a specific way to approach them, trade fairs help businesses discover new potential target groups through the perception and experience of customers toward the company's products Enterprises can also use many survey methods such as face-to-face interviews, interviews through questionnaires, and so on, then analyze the data to identify new target groups

The trade fairs also help businesses reach new partners through their products If there are quality and potential products, businesses will easily get the attraction and investment of trading partners who also attend the exhibitions

4.3 Showing presence, building trust and retaining customers

For every brand, one of the most important factors to strengthen their position is to show their presence in the market every time, everywhere, build trust and retain customers Especially for new companies, attending a trade fair is a reasonable and effective way to introduce themself in the public eye

Trade fairs are the places to help them show off all the essence of the brand, from images to the quality of products and services so that customers can remember the brand and verify the products Therefore, customers will believe more in the brands and their products, so businesses can retain their customers

4.4 Opportunities for training

Almost all trade fairs have the presence of experts with useful sharing about experiences and professional knowledge This is a great opportunity for businesses to acquire knowledge from leading experts to apply to their brands This way, they can reduce cost for researching and testing to be completed in their products

For example, if you participate in an agricultural trade fair, where many PhDs, engineers, and experts in the field of agriculture gather, you can gain in-depth knowledge not only about new agricultural products, but also knowledge and information on seed sources or farming methods that bring high yields

4.5 Gaining market share

Trade fairs offer organizations and their representatives a good opportunity to meet potential customers, and the general public Organizations can deliver their messages directly to a large number of relevant and interested people Face-to-face interactions are very effective to influence consumers’ decisions Trade shows provide organizations opportunities to engage with their customers and general public directly and efficiently Organizations can raise awareness of their products and services by participating in trade shows Similarly, they can increase their contacts and generate qualified sales leads Many trade fairs are open to a large and diverse range of target audiences As such, trade shows help businesses gain market share - an aggressive strategy that business owners use to strengthen their organization while weakening competitors

4.6 Personal networking as a door openers

Personal Networking is the development of relationships with groups or people with whom we have similar interests

Be prepared:

If you are the networking event host, make sure you have all the necessary materials ready, such as name badges, business cards, and brochures about your business

If you are attending an external networking event, make sure you have something to contain all the business cards you collect

Set yourself a target:

A networking event is not a social gathering – you are there to achieve something Don’t focus on selling:

Remember: Networking is about developing relationships – so don’t try to close a deal You’re not there to do business or secure a job You’re there to meet valuable

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contacts Your main focus should be getting to know more people and their contact information to work with them in the future potentially, so avoid any sales pitches or business propositions

Talk and listen:

You’ve got to talk to people, and you also need to listen to what the other person is saying

4.7 Getting direct feedbacks on your own products

Before you begin collecting feedback from customers, you need to pinpoint why you’re seeking their input Identifying your desired outcomes and outlining the process for getting there sets the groundwork for a worthwhile investment of your time — and your customers’ time You can use some of this way to get direct feedbacks on your products:

Customer feedback surveys

Email and customer contact forms

Usability tests

Exploratory customer interviews

Social media

On-site activity (via analytics)

Instant feedback from your website

Using a feedback button gives you another easy way to ask for feedback on your site With an embeddable on-site widget like Beacon, you can collect instant customer feedback without asking the customer any questions

At Help Scout, for example, we pulled nine articles into a webpage that could be valuable to potential customers on the page Instead of asking customers which articles they preferred, Beacon collected the data on the most popular articles If none of the articles helped, the customer could email the team — and that’s valuable information, too 4.8 Discovery industry trends

Trade fair can be a great way to discover industry trends and stay up-to-date with the latest developments in a particular field By attending a trade fair, businesses can gain valuable insights into emerging trends and technologies, as well as the strategies and