Trade fairs and exhibitions can significantly boost performance of SMEs
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Trade fairs and exhibitions play a significant role in enhancing the performance of small and medium-sized enterprises (SMEs). Research indicates that participating in trade shows can positively influence the development of networks, subsequently improving operational performance for international SMEs, especially in the service industry. Moreover, showcasing product innovations at trade fairs can lead to the creation of valuable networks, ultimately facilitating export performance for SMEs, particularly industrial ones.
Additionally, engaging in exhibitions can bring about economic impacts on sales and product improvement for SMEs, highlighting the benefits of increased participation in such events. Moreover, trade fairs have been found to positively influence profit, employment, creativity and advertisement for SMEs, emphasizing their individual role in reversing the failure rate of businesses. They can increase their sales by 20-80%. The impact of social media marketing on the sales performance of small and medium-sized enterprises (SMEs) varies based on different studies.
Research in West Java, Indonesia, found that social media usage positively influences SMEs' firm performance. Additionally, research in the fashion industry in Delhi indicated that those using social media experienced improved performance and sales. Overall, leveraging social media marketing can lead to positive gains but challenges like human capital and innovation must be considered for their effective implementation. Brand image, quality and sales promotions play crucial roles in the growth of SMEs. Research indicates that sales promotions significantly influence customer choice and purchase decisions in the context of SME goods in Indonesia.
Moreover, the impact of sales promotions on customer perceptions of SME products and brands is highlighted, emphasizing the importance of both monetary and non-monetary promotions as well as celebrity endorsements. Additionally, the study emphasizes the significance of sales promotions in improving customer-based brand equity within business organizations, ultimately contributing to market leadership and competitive advantage. Understanding the interplay between brand image, quality and effective sales promotions is essential for SMEs to differentiate themselves, attract customers, and ultimately foster growth in competitive markets. Tourism plays a crucial role in fostering the growth ofSMEs by offering various benefits.
Firstly, the utilization of Information and Communications Technologies (ICTs) and Smart Tourism can help SMEs enhance their competitiveness against larger firms and online platforms. Tourism SMEs contribute significantly to socio-economic development by creating employment opportunities, improving living standards and boosting family income. Application of information technology, such as Electronic Marketplaces, can boost the marketing and promotion of local SME products, leading to increased income and improved welfare for the community. Overall, the tourism industry, dominated by numerous small businesses, serves as a key driver for job creation, competition stimulation, and overall growth in the hotel, tourism, and leisure sector. Experiential marketing at trade fairs is influenced by several factors.
Firstly, the quality of service provided at trade shows significantly impacts participant loyalty and their perception of their relationship with trade fair service providers. Secondly, the experiences and well-being associations that participants have at trade shows play a crucial role in their overall satisfaction and engagement. Thirdly, the exhibitors' trading experience, including their trust, commitment and satisfaction, moderates the relationship between trade show marketing strategies and trade show performance.
