The Impact Of Trade Fair On Business Growth
Table of Content
- 1.1 Background of the study
- 1.2 Statement of the problem
- 1.3 Aim and objective of the study
- 1.4 Significance of the study
- 1.5 Scope of the study
- 1.6 Limitation of the study
- 2.1 Marketing concept
- 2.2 Concept of marketing mix
- 2.3 Promotional mix
- 2.4 Concept of trade fair
- 2.5 Importance and purpose of trade fair
- 2.6 Concept of business growth
- 2.7 The impact of trade fair in Kwara state business
- 2.8 Type of trade fair
- 3.1 Research design
- 3.2 Population of the study
- 3.3 Method of data collection
- 3.4 Data presentation and analysis techniques
Data Presentation and Analysis
- 4.1 Historical background of case study
- 4.2 Analysis of problem
- 4.3 Hypothesis testing
- 4.4 Summary of findings
Summary, Conclusion and Recommendation
- 5.1 Summary of report
- 5.2 Conclusion
- 5.3 Recommendation
1.1 Background of the Study
Trade fair often features spending display and showcasing of first class product of international standard. Trade fair is big business, and particularly when they are of international variety. Across the world, countries jostle and throng to the seen as hosting the real big fails of the moment. We must states that beyond the more exercise of gathering exhibitors to the event and getting than to showcase their product and services to visitors, there is more ending question of how much real benefit would accrue to the nation from this gathering of business, people official.
Exhibitors pay expensively there trade visitors. There is fairs of the world, including the trade visitors. There is also sustained high pitch competition, not only by leading business that have new product showcase, but also, amongst trade fairs companies to develop new trade fair products, expand existing ones and grow their market share in such a way that they out perform their co-fair participants.
Indeed, professional in the trade fair business would pick holes any track fair in Nigeria as international, given the fact that there is established standard for classification. This is indeed part of the challenges facing the Nigeria fair industry.
Indeed, professional in the trade fair business would pick holes any track fair in Nigeria as international, given the fact that there is established standard for classification. This is indeed part of the challenges facing the Nigeria trade fair industry.
The attachment of the tag “international” to a trade fair event is not a matter of the more choice of words.
More than syntax, it has to do with the bigger reality that for any given fair to be and seen as being internationally the percentage of exhibitors and professional visitors coming from outside the testing nation and region should be at least 10.
1.2 Statement of the Problem
This research study will generate answer to most of the question that constitute the problem of this research they are:
- Does trade fair as sales promotion be use to achieve business growth objective.
- To what extent did trade fair satisfy an organization in term of achieving the growth of the business?
- Does trade fair as a marketing strategy has any effect on achievement of marketing objective
- Is there any correlation between trade fair and sales promotion
- Is there any relationship between trade fair and business growth.
- Is there any benefit trade fair bring into Kwara state business.
1.3 Aim and Objective of the Study
The aim of the study is to examine the impact of trade fair on business growth.
Objective of the study
- To assess or examine the effectiveness of trade fair as sales promotion on business growth
- To examine the effect of trade fair to the organization in achieving the growth of the business
- To bring or active effect on achievement of marketing objective.
- To keep an encouraging people to buy diving off season.
- To inform, educate and enlighten many others about the prospect of trade fair considering its relevance of business growth.
1.4 Significance of the Study
Since all organization and business have come to realize the important of trade fair for achieving business growth, this study is of immense value or benefit to the following.
- PUBLIC I.E. CUSTOMERS AND CONSUMERS COMPANY
This study has a vital impact to play academically as it will effectively contribute to both the knowledge of the researcher and academic in general. It will contribute to marketing literature which will serve as reference point.
It will improve revenue base of the government collections of taxes.
PUBLIC: It is of significant to the buyer or the target as it creates awareness, educate and appealing to the consumer on a particular product. It is usually enhance better services to the consumer and discourage dissonance.
This study is of significant to the manufacturer as it enables them to choose an appropriate and understand effectiveness of sales provision for the sales of the product and benefit derived from the product both local and international market, that will improve the profitability for expansion.
1.5 Scope of the Study
The scope of the study means the area courage in the process of understanding this research work, basically the area of coverage of this study are:
- Theoretical scope
- Geographical scope
- Time scope
- Industrial scope
For simplicity of the study, the theoretical scope of the study will be based on application of trade fair hence, emphasis will be laid on the impact of trade fair on business growth.
The geographical scope of this study is Ilorin in Kwara state and all the information used were gathered in Ilorin and Lagos state.
This covers the periodic depth of the study. Therefore the four scope of the study is three (3) years back. All the data will be the that fall between 2008-2010. All what happens is what we want to evaluate and make use of it. This however made the project to be made reliable and achievement.
The company by name is Lagos international trade fair in Nigeria.
1.6 Limitation and Constraints
There are different type of obstacle that occur during the research work, among these problem include the following.
- Financial constraints
Time constraint is one of the major problem that come up when making a research work due to the time stipulated on the research work and the researcher does not have much time to conduct the research work due to the lecture and tutorials that needs to be attending, but at the end the researcher was able to adjust and make a proper planning for the research work.
By going for lecture from Monday to Friday and the lecture finish around 12pm. The researcher new schedule. The remaining time include the weekend to carry out the researcher work through the plan the research work come out positively.
Money serves as a very difficult problem but thanks be to God because able to solve it by getting financial assistance from my Aunty, Brother and other relations before I was able to finance this project.
Another problem encounter by the researcher is carring out this work was response majority of the respondent (seller and buyer in lagos international trade fair) felt reluctant to supply useful information in correction with the questionnaire supplies, there intention was that the information could be used against the them.
However, the corporation of ministry of industry was enhanced or achieved upon the conviction that the research work is purely academic. It’s become possible as a result of the research ability to produce or present identity card.
This also constraints to the success of the research due to the fact that the Lagos international trade fair Premises is very far away that the research has to embark on traveling adventures, but at the end and despite all these constraints the research was able to be written and being out a good report on the study.
Summary, Conclusion and Recommendations
The main purpose of the research study is to evaluate and promotes trade to a set of values and objectives that seeks to improve standard of living and achieve a fairer distribution of income.
Trade fair being a promotional tools has a major impact on business growth in Kwara state the introduction has given a general clue to the study, among other things explains how countries across the world host trade fairs.
It show the statement of the problem which is mainly negligence to tits significance.
However, the related literature review shoe the marketing concept, concept of marketing mix, promotional mix, concept of trade fair, importance of trade fair, concept of business growth the impact of trade fair in Kwara state business, types of trade fair. Whereby achieving greater scale and implore relatively large number of exhibitors to meet their goals.
Moreso, the research methodology adopted offered an insight to the various techniques, methods of data collection used, population of the study, research design was adopted due to the complexity of the study.
In a nut shell, the facts which are the data presented, analyzed and interpreted on a simplified form which is the qualitative and descriptive analysis by the lagos chamber of commerce and industry is presented which has been analysed to satisfaction.
This study has been able to highlight the essence of trade fair which is beyond the were gathering of exhibitors to the event and getting than to show case their products or services and the tremendous positive effect it has on Kwara state business.
Therefore, the researcher have come to clusion that the objective of this study is to primarily promote local industries to boost their business as well as the economy and also promote revitalization and diversification of the nation’s economy among others.
Exiling the background of the study espeiclaly the challenges, with the fact that bulk of leading trade fair and convention activities in Africa are curretly not hosted in Nigeria. On this scale, countries like south Africa, morocco, Algeria, Egypt, Kenya and Botswana have more developed trade fair and convention capacities more developed trades fair and convention capacities which literally has deversfed the self acclaimed giant of Africa (Nigeria) thereby neglecting the benefits trade fair can bring into Nigeria especially Kwara state business.
It is thereby recommended that the Nigeria government should host at least Nigeria international trade fair to boost the economy and make Nigeria more significant.
Nigeria should also encourage local trade fair because it is a small way to inform, educate, and enlighten people about the importance of trade fair as well as improving the local industries.
Cased on the Agenda (s) of president Umary Musa Yar’adua in seeing Nigeria become one of the developed countries of the world come 2020 (vision 2020), the federal government should establish Trade fair in which local manufacturers producers of good and services at all levels can exhibit their products and services. By so doing, Nigerians will able to patronize and uses goods made in Nigeria.
Also, Necessary facilities such as security and safety electricity, water, toilet and accommodation should be provided for moreover, the date of the event should be towards the bingeing of new month so as to increase the purchasing power of salary earners.
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