Page 219 - International Marketing

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BRILLIANT'S Overseas Market 221

It must be noted here that a variety of facilities and infrastructure is
created for trade fairs and these require capital investments. If the facilities
created thus remain under-utilized, a negative economic impact is also
there. Hence, feasibility studies must also be conducted as regards to
repayment of capital investment through the income generated.
Types of Trade fairs

(a) General fairs: In these fairs, there are exibits of all types and
they have attraction both for the business firms as well a house
hold buyers. A good example of such fair is the Milan trade fair.
(b) Specialized fairs: These fairs are highly specialised in the sense
that only specific products are displayed. For example, the
leather fair in Paris or the book Fair at Frankfurt. The objective of
such fairs is not only to conclude deals immediately but also to
have first-hand knowledge of technical developments in that par-
ticular sector, to identify business parties on a long term-basis
or to get ideas for product development.
Types of Exhibitions
(a) Solo Exhibition: Sometimes, the government of a country may
organise an exhibition of its export products in a country where
market prospects are bright. The exhibition may be specialized
one, i.e. where only a small number of related product groups
are displayed or a general exhibition showing all important ex-
port products of the country. Indee 79, the exhibition of Indian
engineering products in Indonesia in 1979, is an example of a
specialized national exhibition.
(b) Company exhibition: Such an exhibition is organized by an
exporting firm to exhibit its own products. Depending on the na-
ture of the products, the exhibition may be open to trade and
consumer both.
Selection of a trade fair for Participation

There has been a tremendous increase in the number of trade fairs
and exhibitions being organized all over the world. While this development
definitely increases the range of choices available to an exporting firm,
this also necessitates identification of a set criteria for taking a decision
with regard to participation in a particular trade fair. Participation in these
events costs money and that too in foreign exchange. Therefore it is very
important for a company to think twice before taking a decision for partici-
pation in such events.