Market Research through Internationl Exhibition | Tips for International Business

 

Maximizing Market Research through International Exhibitions: A Comprehensive Guide

 

International exhibitions serve not only as excellent promotional tools but also as concentrated information banks for the respective markets. Effectively leveraging them provides a great opportunity to gain insights into the market during the short duration of the exhibition. This post aims to explore efficient methods of conducting market research using international exhibitions.

Refer to the following post for guidance on choosing the right international exhibition:

 

How to Choose the Right International Trade Exhibition

 

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Preparations Before Visiting International Exhibitions

 

To maximize the benefits of international exhibitions, thorough preparation is essential. Planning in advance enhances the quality of results, even for the purpose of visiting for market research. If you have already booked your visit, consider the following preparations:

1. Obtain a List of Exhibiting Companies
   : Conducting market research at exhibitions involves understanding potential customers and competitors participating in the event. Therefore, it is crucial to research and obtain a list of companies participating in the exhibition. For international exhibitions, comparing participant lists from previous years with the current year's list can help gauge industry movements.
   
   
2. Schedule and Prepare for Company Meetings
   : One of the significant advantages of participating in international exhibitions is the ability to meet various companies in one place. If you've decided to attend, secure a list of exhibiting companies in advance and prepare for meetings. While impromptu meetings are possible, reaching out to key companies beforehand for scheduled meetings ensures a more focused and productive interaction.

 

 

Market Research During International Exhibition Visits

 

After you've prepared thoroughly, the actual work starts when you enter the exhibition venue. Sorting through important information amid all the promotions and sales efforts is crucial. To navigate the exhibition effectively, it's essential to have clear goals and a sense of direction. Here are some simple guidelines for what to do at the exhibition venue:

 

1. Investigate New and Key Products
   : Exhibitions serve as an efficient and cost-effective promotion method for companies attempting to export. Therefore, it is vital to investigate the key and new products showcased by exhibitors. Obtain samples, brand catalogs, and business cards for later reference.
   
   
2. Check Market Trends Through Exhibitions
   : Since many companies display new products alongside key products at exhibitions, these events often reflect overall industry trends. Therefore, it is essential to not only examine individual booth displays but also observe the overall industry atmosphere and trends. For first-time attendees, checking out booths of major brands and main sponsors is an easy way to grasp general market trends.
   
   
3. After Meetings with Participating Companie
   : You might have meetings with different companies during the exhibition. To ensure that you don't miss any important details, it's a good idea to jot down key points from each meeting right away. Although recording everything in real-time during meetings is ideal, the limited space in exhibition booths can make this challenging. Therefore, it's important to summarize the essential points after 3-4 meetings and clean up them at the end of each day.
    
    
   
   
    
    

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Visiting international exhibitions solely for market research is an investment of time and resources. With a systematic approach, one can effectively leverage these opportunities to yield results that align with the invested time and capital.

 

 

Like any other project, thorough preparation for international exhibitions leads to better results.