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here: Step
8: Preparing your export plan > Preparing an export
marketing strategy for your firm > Export promotion > Sales
promotion > Trade fairs and exhibitions > Formulating your trade fair objectives |
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2. Formulating your trade fair objectives
Introduction
Before selecting a fair in which to participate,
the objectives for doing so need to be defined. These we
have already briefly mentioned and may include:
- Gathering information about the marketplace that
will help you with your export marketing strategy
- Getting customer feedback on the products you have
to market
- Identifying potential buyers and/or representatives
- Learning more about the competition and the products
they have to offer
- Taking orders and/or to selling your products
Linking your trade fair objectives to
your export and research objectives, and marketing strategies
It is obviously important that your trade
fair objectives tie in with your overall exporting objectives,
as well as with your research objectives and planned export
marketing strategies. After all, you will be using the
trade fair to gather market information and this information
must support your other information gathering objectives.
You may, for example, find that there is some pertinent
information that you are missing and the trade fair will
provide an opportunity to focus on getting the missing
information.
Similarly, you will be using the trade fair
to market your firm and your products. It is therefore
essential that your efforts at the trade fair are closely
linked to your export marketing strategy. If, for example,
you intend to make use of an import agency to enter the
market, then one of your trade fair objective may be to identify
suitable agents. On the other hand, if you want to ensure
that your product meets customers' needs, then you may
want to ask as many potential customers what they think
of your product(s).
Once you have set your trade fair objectives,
the next step is to identify a suitable trade fair to participate
in - one that will meet most of your objectives.
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