Export promotion Organization trade Fair and Exhibitions06/09/2022 0 By indiafreenotes
International communication consists of those activities which are used by the marketer to inform and persuade the consumer to buy. A well-designed promotion mix includes advertising, sales promotions, personal selling, and public relations which are mutually reinforcing and focused on a common objective.
Developing an international communication strategy involves five steps:
- Determining the promotional mix (the blend of advertising, personal selling, and sales promotions) by national markets.
- Determining the extent of worldwide standardization.
- Developing the most effective messages.
- Selecting effective media.
- Establishing the necessary controls to assist in achieving worldwide marketing objectives.
Communication is the side of international marketing with the greatest similarities throughout the world. Paradoxically, it may also have the distinction of involving the greatest number of unique culturally related problems. Adapting promotional strategy to cultural peculiarities which exist among the world’s markets is the challenge confronting the international market.
Advertising is usually the most visible component of communication, but it is not the only component of communication. To communicate with and influence customers, several promotional tools are available. Marketers have at their disposal the major methods of promotion i.e. advertising, sales promotion, publicity, pubic relation, personal selling and word of mouth.
Taken together these comprise the promotion mix. But in the present scenario, the promotional tools have widened their scope and number of types. There are many other promotional tools also which are considered under the promotion mix such as e- commerce/internet marketing, sponsorship, exhibitions, packaging, point-of-purchase displays, corporate communications/ identity, event marketing, trade shows, and customer service.
When these tools are integrated in a harmonious manner to reach and exceed the promotion objective, the outcome is called Integrated Marketing Communication (IMC). IMC has been adopted as the best possible way to promote one’s offering according to the situation.
An export in international trade is a good produced in one country that is sold into another country or a service provided in one country for a national or resident of another country. The seller of such goods or the service provider is an exporter; the foreign buyer is an importer. Services that figure in international trade include financial, accounting and other professional services, tourism, education as well as intellectual property rights. Exportation of goods often requires the involvement of customs authorities.
International agreements limit trade-in and the transfer of certain types of goods and information, e.g., goods associated with weapons of mass destruction, advanced telecommunications, arms and torture and also some art and archaeological artefacts:
- Nuclear Suppliers Group limits trade in nuclear weapons and associated goods (45 countries participate).
- The Australia Group limits trade in chemical and biological weapons and associated goods (39 countries).
- Missile Technology Control Regime limits trade in the means of delivering weapons of mass destruction (35 countries).
- The Wassenaar Arrangement limits trade in conventional arms and technological developments (40 countries).
Using various online and offline outlets, sales promotion creates limited time deals or promotions on products or services in order to increase short-term sales. It can include sales, coupons, contests, freebies, prizes and product samples.
When conducting a sales promotion, it’s important to consider:
- how much it costs and whether the volume of sales will make up for the lost revenue
- whether it will build loyalty or just attract one-off purchasers
- if the promotion fits with the brand’s image
Organization trade Fair
A trade fair, also known as trade show, trade exhibition, or trade exposition, is an exhibition organized so that companies in a specific industry can showcase and demonstrate their latest products and services, meet with industry partners and customers, study activities of rivals, and examine recent market trends and opportunities.
In contrast to consumer fairs, only some trade fairs are open to the public, while others can only be attended by company representatives (members of the trade, e.g. professionals) and members of the press, therefore trade shows are classified as either “public” or “trade only”. A few fairs are hybrids of the two; one example is the Frankfurt Book Fair, which is trade only for its first three days and opens to the general public on its final two days. They are held on a continuing basis in virtually all markets and normally attract companies from around the globe.
The India International Trade Fair, ever since its inception in 1980, has evolved as a major event for the business community. It is a premier event organized by the India Trade Promotion Organization, the nodal trade promotion agency of the Government of India. The event is held between 14 and 27 November every year at Pragati Maidan, New Delhi, India.
The Theme of IITF 2020 was Aatmanirbhar Bharat
IITF is a major tourist attraction and lakhs of people visit the fair every year. This annual event provides a common platform for the manufacturers, traders, exporters and importers. The fair displays comprises a wide range of products and services including automobiles, coir products, jute, textiles, garments, household appliances, kitchen appliances, processed food, beverages, confectionery, pharmaceuticals, chemicals, cosmetics, bodycare & health care products, telecommunication, power sector, electronic sector, furniture, home furnishings, sporting goods, toys, and engineering goods.
The participation figures verify the huge worldwide response of IITF. The 26th edition of IITF (2006) had around 7500 national and 350 international exhibiting companies. The fair attracted a huge audience of more than 3 million general visitors & 2,75,000 business visitors including 91 delegations from 53 countries. In fact, all business avenues will be encouraged to participate, to represent India in its totality and open fresh avenues for major business expansion.
IITF 2019 included 8800 exhibitors displayed in an area of 94,300 square metres (1,015,000 sq ft). (gross) with 30 States and Union Territories participated in as exclusive pavilions. In this edition 299 foreign companies from 25 foreign countries displayed their products. Around 40,000 domestic business visitors and foreign trade delegations from Afghanistan, Angola, Australia, Bangladesh, Brunei, Burkina Faso, Canada, China, Costa Rica, France, Germany, Ghana, Hong Kong, Iran, Indonesia, Japan, Kenya, Lesotho, Malawi, Malaysia, Mexico, Nepal, Nigeria, Oman had visited the fair. Over one million general visitors visited the fair.
An exhibition, in the most general sense, is an organized presentation and display of a selection of items. In practice, exhibitions usually occur within a cultural or educational setting such as a museum, art gallery, park, library, exhibition hall, or World’s fairs. Exhibitions can include many things such as art in major museums and smaller galleries, interpretive exhibitions, natural history museums and history museums, and also varieties such as more commercially focused exhibitions and trade fairs.
In British English the word “exhibition” is used for a collection of items placed on display and the event as a whole, which in American English is usually an “exhibit“. In both varieties of English each object being shown within an exhibition is an “exhibit“. In common usage, “exhibitions” are considered temporary and usually scheduled to open and close on specific dates. While many exhibitions are shown in just one venue, some exhibitions are shown in multiple locations and are called travelling exhibitions, and some are online exhibitions. Exhibitions featuring especially fragile or valuable objects, or live animals may be shown only during a formal presentation, under the close supervision of attendant or educator. Temporary exhibits that are transported from institution to institution are travelling exhibits.
Though exhibitions are common events, the concept of an exhibition is quite wide and encompasses many variables. Exhibitions range from an extraordinarily large event such as a World’s fair exposition to small one-artist solo shows or a display of just one item. Often a team of specialists is required to assemble and execute an exhibition; these specialists vary depending on the type of said exhibit. Curators are sometimes involved as the people who select the items in an exhibition. Writers and editors are sometimes needed to write text, labels and accompanying printed material such as catalogs and books. Architects, exhibition designers, graphic designers and other designers may be needed to shape the exhibition space and give form to the editorial content. Organizing and holding exhibitions also requires effective event planning, management, and logistics.