A trade show is an organized form of exhibition where business from a particular industry or from a particular region come together at one place to demonstrate their products and services to the masses.
The concept of trade shows were introduced by the European business entities and traders during the late medieval period of Europe. During that era, Europe and South America experienced a major boom in the business sector which led them to go oversees to attract more and more customers for their products. During the 20th century, improved transportation and developed customer management system motivated the industries from Asia to go overseas and capture higher portion of the existing customer markets to their cause. Currently China and India dominate 55% market share of the international trading flows with their technology and readymade garments products.
Generally trade shows are of three kinds. Public, trade only and industry specific.
- A public trade show provides general masses an opportunity to take a look at the product and services from various business organizations at a single place. This is a very good opportunity for business entities to showcase their USP (Unique Selling Proposition) to their customers. Such event is a lucrative opportunity for the seasonal business entities as well.
- Trade-only trade shows are based on showcasing products and services to a business’s core niche. These type of shows are not generally open for masses. This type of trade shows are also known as B2B shows as most of the customers coming to such shows are owner of their own businesses as well. According to recent data, Trade-only trade shows are mostly popular in readymade garments and in computer or IT industry.
- Industry specific trade shows are the ones where businesses and customers comes to the venue to make connection with one another to establish long term partnership. In most cases businesses demonstrate their product and services as a pre-demonstration for long term contract. Such type of trade shows are mostly organized by a specific department of the government on an international level to attract customers from all around the world to the services they currently have. It is mostly a promotional event rather than a trading one.
Common tactics to get most out of a trade show are: