I would like to take this opportunity to thank the authorities of Greefting -DTT for allowing me to carry out my Summer Internship project. I am truly obliged to the management of the company for all the knowledge that I have gained and the skills that I have developed. I would like to thank my project guide Mr. Piyush Kothari (Marketing manager) and Mr. Kapil Sharma (Executive Director), for guiding me throughout the project and also for his encouragement and support. I owe my deepest gratitude to Prof. Ajay Tekchandani for his timely advice and guidance in preparation of this project.
He helped me by guiding me from time to time to cover all the areas of research while preparation of this project. It is an honor for me to thank my director Dr. Swati Lodha of Aditya Institute Of Management Studies And Research . Finally, I would like to thank all the advisors who gave me their valuable time for the survey, without whom my project work would not have been successfully be completed. HARSH. K. DUBEY M. M. S. INDEX Executive summary Overview Review Of literature Introduction History Industry Profile and Importance Participation Criteria Measurement and Evaluation Research methodology
Analysis of the data Observations Suggestions & Conclusions Bibliography Executive summary My project report deals with an interesting facet of marketing and sales i. e Exhibitions. Role of exhibitions as a marketing and sales medium has seen a phenomenal rise in the past five decades. Participating in an exhibition is not enough for an organization. A lot of factors are to be considered, like which exhibition or trade show to be a part of which products to showcase to the selection of booth and stall space and right down to budget for the exhibitions and performance measurement and evaluation.
In my project I have attempted to cover all these areas taking help of experience from industry experts and organizations which are a part of the aforesaid industry. I studied and referred to the secondary data of the sector in order to fulfill my agenda as well as conducted primary research to gain insight about what the people in the industry feel and they changes are they expecting in the future. The different criteria’s kept in mind for taking decisions and the sampling techniques and types of questionnaires used for research for getting a picture of the impact of the exhibitions on organizational sales came to my knowledge and learning.
Overview Trade shows present a range of valuable opportunities for companies that participate, including meeting potential customers, finding new and better ways of doing business and building a more impressive reputation within an industry. But making a solid trade show appearance requires investing company resources, and given today’s uncertain economic climate, it may seem difficult to justify the expense. However, most businesses can see significant returns even from a modest trade show investment — if they have the right strategy.
One of the main benefits of appearing at a trade show over selling to individuals is that it’s just like running a retail store. People are coming in the door to talk to you. What you should be looking at is the value of a sale. You can look at it as the value of a single sale, or as the lifetime value of a client. If selling to one or two or three people will pay for a trade show, it’s a good place for you to be. The positive impact of exhibiting at a trade show isn’t confined just to the event, as 87 percent of attendees will pass along some of the information they obtained
at the show, and 64 percent will tell at least six other people about it. From a sales perspective, shows can also be highly cost-effective — it costs 22 percent less to contact a potential buyer at a show than through traditional field sales calls. Of course, the fact that trade shows offer a lot of chances for boosting business doesn’t guarantee success. To maximize the value of a trade show appearance, it’s important to find the events that are best-suited to promoting your firm and making an impact on the market. “Depending on the industry, trade shows can be an important lead generation or brand awareness channel.
They do not generally have an immediate impact on profits (unless you consider the costs to participate), however, if the exhibit program is well planned, they can play a role in building a company’s reputation. Once the right shows have been identified, your business needs to develop a comprehensive strategy and ensure your company is represented in the best possible light. PURPOSE OF THE STUDY To determine the impact of exhibitions on sale of products in B2B industry To understand the view of industry people towards exhibitions. To gain knowledge about the research design and the steps of conducting successful research.
METHODOLOGY USED 1. Primary Data The data related to this project is collected through primary data; for the same I have collected the information by designing the questionnaire and surveying the selected sample. 2. Secondary Data Financial statements were used in order to analyze and determine the financial position of the company . 3. Personal Observation I have actively participated in the analysis of the market demand of the company , of a new to market product. Literature Review Introduction I. Description of Fairs, Expositions and Exhibitions A. Definitions
The roots of the phenomenon “Fairs, Expositions and Exhibitions” can be traced back to its language origin. The word “Fair” comes from Latin “feria”, meaning “holiday” as well as “market fair”. This in turn corresponds to the Latin “feriae”, which came to mean religious festival. During the 12th century the importance of trade meetings increased; fairs were held close to churches, so that the concept of religious festival and market fair was combined in the common language. The word “exhibition” was mentioned as early as 1649. It is a derivative of the Latin word “expositio”, meaning “displaying” or “putting on a show”.
Exhibitions are not just collections of interesting objects brought together at a certain place and time. They are human activities, human enterprises, undertaken for definite reasons and in order to achieve certain specified results. They are a form of human exchange, whereby the promoters and exhibitors on the one hand communicate with the visitors on the other. Their results can only be told in terms of further human thought and activity. The word “exposition” goes back to the same origin as “exhibition”. Expositions, rooted in old French, tended to be very similar to their English cousins, exhibitions.
Expositions were held in facilities built specifically for them. They were organised by either government departments or groups of entrepreneurs with government assistance for the express purpose of promoting trade. Manufacturers were invited to show their goods. In colloquial speech the concepts are used similarly. However, there are some interesting conceptual developments which show the variability of today’s exhibition industry. The early types of expositions and exhibitions were precursors for the world’s fairs – today known as EXPO – and different types of fairs and shows.
B. Types of Exhibitions Fair The Middle English word “feire”, which means a gathering of people held at regular intervals for the barter or sale of goods, is the one from which the present day definition, i. e. a periodic gathering for sale of goods, often with shows or entertainment, at a place and time fixed by custom, is taken. Expositions and exhibitions have always been combined with the display of goods and products. Exhibitions differed from fairs in four major ways:. First, exhibitions were usually one-time events. They did not enjoy a recurring life cycle.
However, while fairs ran for a short period of time, many exhibitions ran for months, some for a year or longer. Second, exhibitions were housed in permanent facilities built specifically for them. Starting in the 18th century, the practice of building a facility for the express purpose of housing an exhibition was the precursor of the exposition/convention centre industry. Third, although fairs were held regularly, they were not highly organized events. Over time, religious and later civic leaders did take control of the grounds where fairs were held (usually public lands).
Exhibitions, on the other hand, were highly organized events. They were initially created by government departments or committees for the purpose of promoting trade. Finally, exhibitions differed from fairs in the very way in which business was conducted. Goods were bought and sold at fairs. At exhibitions, commercial activity or selling of the displayed goods, was not usually involved. However, inherent in displaying the goods was the hope of stimulating future sales. Today this is how most exhibitions still operate. Crystal Palace in London built for WORLD EXPO 1851 World’s Fair – EXPO
is the generic name for various large expositions held since the mid 19th century. The official sanctioning body is the Bureau International des Expositions or BIE. Expositions approved by BIE are universal, and international or specialized, lasting from 3 to 6 months in duration. Universal expositions encompass universal themes that reflect the full range of human experience. These Universal Expos usually have themes based upon which pavilions are made to represent the country’s interpretation on that theme. For example, the theme for the Expo at Lisbon (1998) was “water” and the theme for the 2005 Expo hold in Japan is “nature’s wisdom”.
To distinguish them from other fairs, expos require total the design of pavilion buildings from the ground up. As a result, nations compete for the most outstanding or memorable architectural structure. The 2005 World Exposition, Aichi, Japan Theme for 2005 World Exposition: “Nature’s wisdom” Thanks to rapid technological development, the 20th Century was characterized by mass-production and mass-consumption, which in turn led to material improvements in our daily lives. At the same time, these trends resulted in various global issues such as desertification, global warming, and a shortage of natural resources.
As these issues cannot be resolved by any one nation, the international community needs to unite in confronting them: we must come together and share our experience and wisdom, in order to create a new direction for humanity which is both sustainable and harmonious with nature. EXPO examples Recent Universal Expositions include Brussels Expo ’58, Seattle Expo ’62, known as the Century 21 Exposition, Montreal Expo ’67, San Antonio HemisFair ’68, Osaka Expo ’70, Brisbane Expo ’88, Seville Expo ’92, Lisbon Expo ’98, Hanover, Germany Expo 2000. The Expo 2010 will be held in Shanghai, China.
The Chinese Export Commodities Fair, also called the Canton Fair, is held twice a year in Spring and Autumn since it’s inauguration in 1957. It is China’s largest trade fair, presenting complete varieties of goods with a vast attendance and business turnover. Preserving its traditions, this Fair is an event of international importance. 2005 Canton Fair: Approximately 200 000 attendees from 210 countries. Turnover of export: 29,23 billion US. Trade Fairs have been the primary marketing medium of exporting countries. The exhibits are confined to one industry or a specialized segment of a special industry.
They are more commonly known as trade fairs. Historically, trade fairs have been the primary marketing medium of exporting countries. Initially, trade fairs were horizontal in their organization, with various products and/or services in specified industry groupings. A vertical organization is more commonplace today with the exhibits being confined to one industry or a specialized segment of a specific industry. Buyers are usually business members of an industry and often must be pre-qualified to attend the fair. CEBIT, Germany world‘s largest show for the computer industry
Historically, trade shows have been conceived of as vehicles of communication with company exhibits fulfilling an advertising and display function. Over time, this view has been challenged and replaced with the view that trade shows are primarily events where products and services are sold, or contracts and rights signed. However, in some instances, product or service offerings and buying processes are regarded as too complex to permit full assessment or commitment to be made on-site. In such situations, trade shows, at best, are likely to generate sales leads to be followed up afterwards.
In the 1980s, a broader view of trade shows became more accepted. Several researchers argue that companies use trade shows to pursue multiple objectives beyond communications and selling. Trade Shows or b2b shows do have certain distinguishing characteristics that set them apart from consumer or combined shows. The exhibitor is typically a manufacturer or distributor of products or services specific or complementary to those industries authorized to the show. The typical buyer is an industrial end user, or another distributor, within the industry segment hosting the exposition.
Attendance is restricted to these buyers and is often by invitation only. Business credentials or pre-registration are usually required to qualify the buyer as a legitimate member of the trade or industry. An access or registration fee may also have to be paid prior to admission to the event. Trade show events may be as short as a single day or as long as seven to 10 days depending on the markets being served. Some are held semi-annually. Most are held annually, a few biennially. Some large-scale industrial expositions are held once every three to seven years. Hong Kong Electronics Fair
Asia’s largest show for the computer industry The National Trade Center, Toronto, Canada Approximately 175,000 people visit the annual National Trade Centre to experience the latest trends, product innovations and fashion-forward decorating ideas for the home. As the largest home show in North America, the National Home Show features more than 800 exhibitors offering a selection of home products and services that is second to none. It’s a chance to get a sneak peek at the latest and greatest products for the home and to see what the future holds for homeowners across Canada.
Consumer Shows (public shows) are events that are open to the general public. Exhibitors are typically retail outlets, manufacturers or service organisations looking to bring their goods and services directly to the end user. A consumer show, or public show, is an event that serves specific industries or interests, held for a particular duration of time (1 to 10 days). They include several shows: e. g. home shows, car shows, sportsman shows, computer and technology shows, and many others. The primary purpose of a consumer (public) show is direct selling.
Buyers (consumers) are brought together with sellers of goods and services. Consumers benefit from a diverse product mix, expert advice, education and entertainment. Sellers benefit by immediate consumer purchases, product and brand awareness, public relations, research and development, and product testing. International Jewellery Show, Dubai Mixed shows are a combination of trade and public shows. Exhibition organisers tend to open their trade shows to trade and to public visitors. Trade visitors are allowed to enter the exhibition on special days; other days are open to both the trade and the public.
Visitors Profile From the 2004 edition onwards “International Jewellery Dubai” is repositioning itself to focus primarily on trade. IJD 2003 attracted 2,497 registered trade visitors (71% from the Middle East and 29% worldwide) and thousands of wealthy private buyers, VIPs and public. A total of 11,747 people attended the event over 5 days. Special types of trade fairs Finally, trade fairs are combined with other events such as lectures, seminars, fashion shows, special events and congresses. This combination raises visitor interest, driven by the high demand for information exchange and the availability of experts.
Exhibitors use this kind of show to meet many experts of one market segment. A good example is the medical branch which has one of the highest needs for congresses. During the “Annual U. S. Psychiatric & Mental Health Congress” an extensive supporting programme of speeches and debate forums is served. Additionally a trade fair is attached. Virtual fairs appeared in the 70’s when internet use became widespread. The demise of traditional fairs was considered “inevitable”. Possible touted advantages: elimination of usual trade show time constraints, space factors and exhausting, long-distance travel.
However, it is now clearly accepted that traditional fairs cannot be replaced by virtual ones. Face-to-face contact remains a significant privilege of traditional fairs. Applying customer relationship management (CRM) and building up loyalty of clients remain advantages of exhibitions. Nevertheless, the World Wide Web has very much effected the organization of exhibitions. Exhibitors and visitors take their information from the net and decide if they participate in the exhibition or not. Organizers try to communicate with their customers via internet to save money and to accelerate the communication process.
See how to handle the exhibition services “International Fair Plovdiv”. II. Historical Development Fairs have been important institutions of the European trade. They can be traced back to the high Middle Ages. The earliest market places, which can be characterized as exhibitions, have been founded in the Champagne, France. They have started a continuous development which lasts to the exhibition industry of today. The development of the exhibition industry over some hundreds of years can be divided into several stages. Medieval fairs = preferred markets before the 12th century
Until the 12th century only few references to fairs and large markets can be found in the Franconia empire and the adjacent regions. Privileges for a town from sovereign, emperors, kings Custom and exempt from custom and taxes During the fair, strangers also were allowed to open their stands Fair courts were established (mediation, contracts) Military protection = a free escort France 629: Abbey of St. Denis gets privileges from Merovingian King Dogbert I. : Custom privilege + special protection of the king. Both were renewed continuously.