Trade Fair As An Instrument Of Increasing Sales In Business Organization (A Case Study Of Emily Millionaire Industry Limited In Enugu)
Trade fair as an instrument of increasing sales in business organization, a case study of Emily Millionaire industry Limited in Enugu. The overview of the unit topic will further strengthen and enhance the business administration and management practice in many cooperate organization in Nigeria. It will help the top management in the issue of the management of trade fair assets and channel the assets to its appropriate areas. This study will bring out areas of shortfalls in management of trade fair asset. Basically, the research is to find out or appraise the cooperate trade fair management practice using Emily Millionaire Industry Limited Enugu. It also discusses the introduction of cooperate trade fair management practice in particular. It would identify the immense significance of trade fair management. It also lay emphasis on the important terms used in the course of the study and highlights it’s would give clear defined ways in trade fair management that will be needful to organization. Furthermore, the study will trace related literatures of other authors especially the previous review work on this literature. The review would in no doubt bring about vibrant and adequate avenue in managing trade fair assistance. There will also be relevant data used in analyzing. In acquisition data of one hundred and twenty (120) questionnaires were distributed out of which hundred (100) were retrieved and discussed in the analysis of data. This is to certify that data used in analyzing the result is based on the level confidence which is 0.05%.
Table Of Contents
- Title Page
- Table of Content
- 1.1 Background of Study
- 1.2 Statement of Problems
- 1.3 Objective of the Study
- 1.4 Research Question
- 1.5 Significance of Study
- 1.6 Scope of Study
- 1.7 Limitation of the Study
- 1.8 Definition of Terms
2.0 Literature Review
- 2.1 Promotional Strategies and Overview
- 2.2 The Role of Sales Promotion in the Marketing of Cosmetics Products in Nigeria
- 2.3 The Effective of Trade Fair in the Promotion of Indigenous Products in Nigeria
- 2.4 Company People Emily Millionaire
- 2.5 Emily Millionaire of Enugu at Enugu International Trade Fair.
- 2.6 Emily Millionaire Participation in the Past and Present Trade Fair
- 2.7 The Effectiveness of Trade Fair as a Marketing Tool or Beauty Products in Nigeria
- 2.8 Constraints Associated with Trade Fair Trade Shows and Exhibits
3.0 Research Methodology
- 3.1 Introduction
- 3.2 Sources of Data
- 3.3 Sample Size Determination/Procedure
- 3.4 Questionnaire Distribution Methods
- 3.5 Method of Data Analysis
4.0 Presentation of Data, Analysis and Interpretation
- 4.1 Introduction
- 4.2 Presentation and Analysis of Data Response from the Emily Millionaire Nigeria Limited Staff
- 4.3 Presentation and Analysis of Responses from Administered Questions to the Emily Millionaire Customers
5.0 Summary of Findings, Conclusion &Recommendations
- 5.1 Summary of Findings
- 5.2 Conclusion
- 5.3 Recommendations
- 5.4 Suggestions for Further Research
1.1 Background Of The Study
Trade fair from my own point of view is marketing tool used for increasing sales in business organization. It is also a form of promotion device or sales promotion strategy whereby producers or agents showcase and demonstrated their product(s) to both middlemen and the ultimate consumer.
Trade fair are time test method of getting buyers and sellers together under mutually legal beneficial condition and are being directed primary of potential customers, while services and goods are featured at trade fair, which are designed to attract immediate prospect and to create awareness.
Visitors participating in these fairs have privilege to physically examine, make movement comparison and learn about new product, market movement, completion and new source. The forums (show) are usually designed for special groups in a particular geographical area (as made in Nigeria trade fair).
Individual who participate in this fairs are always interested probably may want to know whether there is any slight change in product. Then when the exhibition are well publicized, managed and staff, the result can increase sales volume for exhibitors. Exhibit staffing is considered to be the most essential factors, as these shows are merely conventions. This is because it is this staffs who attends to the customers by informing, calculating persuading them to try or use the newly introduced product. Trade fair helps in attending to companies and enterprises by getting in touch with their customers and getting many inquiries from serious minded enterprises and Company executive that end up placing orders. Trade fair is a good venue for sales.
Trade fair is a tool that is used to increase marketing performance. It creates a forum for physical intervention between manufacturers and their medium to know how much interest the buyers show in their product that have been existing in the market and how customer reach t o various features and terms, how many express purchase intention or place order, since the participating vendors expected several benefactor which include generating new sales lead, maintaining new customers contact through the public relation officer at company’s price, meeting new customers, introducing new product and educating customers with publications, motion pictures and aided visual materials. It is organized at regular interval mostly at the same location and period of the year and it usually last from seven days to ten days (7-10 days). There are basically two kind of trade fair that are organized in Nigeria.
Trade fair are zones into three zones in Nigeria, which are Lagos, Kaduna and Enugu. Lagos serves as a venue for any international trade in Nigeria, while Kaduna and Enugu are used to organize trade fair for Northern and Eastern zone respectively.
1.2 Statement Of The Problem
The Enugu Chamber of Commerce, Industry, Mines and Agriculture since inception has conducted about thirteen trade fair in Enugu State along Abakiliki road.
The organization of these trade fair up to this year has helped many companies e.g. Emily Millionaire Industry products and introducing new products. But there are some problems affecting the company to reach a standard.
These problems are enumerated below:
For any product to be highly demanded in the market, producers must make quality packaging which will attract the customers by giving them impression that the product is good because eyes have covenant with good things. Most customers of Emily Millionaire products do complain about the poor packaging given to their products and they contend that the product itself is of good quality in the market.
Identifying Strategies Used by Other Companies:
Since there are many cosmetic participating in trade fair with different strategies, Emily Millionaire should tray as much as possible to know necessary implementation and adjustment of any, in order to gain more customers over their competitors in trade fair.
Building of Attractive Standards:
Most customers make purchase of some product because of the attractive of the standard customers always complain about how poor the standard of Emily Millionaire products.
1.3 Purpose Of The Study
The purpose of this study is to:
- To ascertain how trade fair has increased the market share of Emily Millionaire products.
- To ascertain how trade fair can help company’s product to increase its market share and make profit.
- To ascertain whether participants, organizers and customers obtain the work of their reference to past fair, fail to create awareness of company’s product.
- Critically access how trade fair increase the marketing share of company’s products.
- To determine how trade fair can help a company to increase its market share and profits.
- To determine how trade fair can help stimulate product marketing.
- To determine whether participants, organization and customers do obtain value for their money.
- To ascertain if the sole aim of trade fair is to create awareness, how successful is this statement with reference to past fairs.
- To determine if the participating companies is progressing or retrogressing by taking part in the various trade fairs and do the adjustment when the need arises
1.4 Research Questions
- Can shortage of quality package on product affect customer’s relationship with the company?
- Does Emily Millionaire international trade fair increase market share?
- What is the pattern of consumer behaviour in the Emily Millionaire Industry Ltd and why do they behave the way they do?
- What changes are presently taking place in the Emily Millionaire Industry Ltd.?
- How many products range Emily Millionaire has?
1.5 Significance Of The Study
This study does not solely have academic as its main significant objectives. It hopes to orientate manufacturing industries on how, when and where to use promotion and the type of promotional mix, apply as personal selling which used products and benefits involved in using other areas in. It also serves as a forum where new products are been introduced to the market. It also increases the quality purchase by present customers.
1.6 Scope Of The Study
Owing to the fact that the researcher cannot transverse the length and breath of Emily Millionaire Company branches in Nigeria, the researcher limited the scope of this study to the marketing office in Enugu.
1.7 Limitation Of The Study
This project work is limited by any variable which we shall explain in detail. These variables are:
The nation’s economic problem which is a greater problem to the citizens is a major constrains as the writers are within the country thus, the cost of transportation and printed materials almost marred this work notwithstanding. The researcher made use of all the available resources of offset the inflationary trend in the course of producing and writing this work.
Human Behaviour Problem:
This work is constrained by response given oral interview questions; respondents were unable to give us accurate account of trade fair.
Availability of New Book Materials:
This work is constrained by response given in some documented materials. Also lack of textbook, journals, and printed material to this study constituted a major problem as the books in the school library are irrelevant to the study of trade fairs.
Throughout the time within which this research was carried out seems long but is was not sufficient enough to gather relevant information as regarded because of political crisis since most of the companies went on vacation and sponsoring some political parties. Notwithstanding, the writer was able to gather and store enough information before and during the political campaign.
1.8 Definition Of Terms
For the purpose of this study, the following terms are defined and explained in details, as this help for clarity of terms.
This is different promotional tools such as advertising, personal selling, sales promotion and publicity.
Since the place where goods and services are manufactured are not the same place they are consumed, it becomes necessary that consumers be made aware of the happening product existing. This method creates awareness to consumers.
This is the systematic method of achieving awareness of product and services through combine use of advertising sales promotion, public relations personal selling and publicity.
This is the totality of a company respect for the society in which it operates it. It helps to build a sense of unity between the company and the community.
5.0 Summary Of Findings, Conclusion And Recommendations
5.1 Summary Of Findings
The Enugu Chambers of Commerce, Industries Mines and Agriculture aid the organization of the Enugu International Trade Fair which is an annual affair. This is the umbrella that Emily Millionaire Cosmetics Industry was to create awareness of its products.
Trade fair are basically creation of the awareness of products. It is a tool for the increasing of market share (a total number of customers a firm commands in a particular place at a definite period of time). Trade fair help producers and manufacturers to exhibit their products for sale. This is another method of brining buyers closer to the seller of products.
The Enugu International Trade Fair has helped the name company (Emily Millionaire Cosmetics Industry) in increasing its market share. This researcher also observed that most products prices are reduced to entice new or potential buyers. It also aid the company (Emily Millionaire) to identify strategies used by other companies e.g. packaging method, pricing methods and modes of products.
Another important observation is that trade fair is also effective medium for the promotion of indigenous products in Nigeria. It increases the awareness of home products especially Emily Millionaire. The cosmetics market requires frequent advertising and in order to maintain its customers and consumers. The cosmetic market is a very complex market with wide range of products both indigenous and foreign products. Emily Millionaire adopted market segmentation and price penetration method in order t reaches its target market. This is why most of the Emily Millionaire consumers could afford the product any time of the year.
Trade fair is a tool for creating awareness and exhibition of company’s products to the target customer. It is a form promotional devise (personal selling) that enables companies to show and demonstrate their products to both middlemen and ultimate consumer. It is also a means of opportunity for dramatizing Emily Millionaire Cosmetic Industry.
In the light of the foregoing findings, we make the following recommendations aimed at promoting of increasing sales in business organization of any particular company’s product through trade fair especially indigenous products.
- Effort should be made toward trade fairs to reflect the exhibition of indigenous goods and service. But we should also allow the exhibition of foreign goods as this encourage production and improve the quality standard of products among the manufacturing industries in Nigeria.
- The participating companies should always give attention towards the satisfaction of their customer because the customers are the king to an enterprises survival and growth. This is to say why more emphasis should be paid on how to satisfy them effectively and efficiently.
- Companies like Emily Millionaire Cosmetics Industry should plan the method of advertising the products in such a way that customers will be attracted to their products most effectively during trade fair.
- Cosmetics companies with particular reference to Emily Millionaire Cosmetic Industry should make use of penetration price techniques in order to gain more customers, that is reducing the price in a way that will make people to rush for their products.
- Emily Millionaire Cosmetics Industry should employ young girls and boys who are presentable because they will help in advertising their products especially during trade fair.
- Participating companies during trade fair should comply with the rules and regulations governing trade fair.
- National agency for commerce should organize workshops before the commencement of any international trade fair in order to educate intended participants.
Finally, if all these recommendations are effectively implemented and the necessary precautions and prevention taken, one will find out that the importance in increasing sales in business organization of any company products.
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