Connecting Business with New Markets and Customers
OverviewTrade missions provide:
- Explicit assessment of market opportunities.
- Launch of direct contacts and a high profile in a target market.
- Support in seeking representation or prospective customers and contact with other participants.
In a nutshell, ”learning experience in export marketing is an activity
that allows participants to gain knowledge of a foreign country’s culture through direct contact with local business people and government representatives.”
Firms from a foreign country visit exporters in the host country with the support of an export promotion program of the host country by either governments or organizations / associations.
Exporters travel to foreign markets selected by the mission organizer and is mostly organized by governments or organizations / associations through government export promotion programs
Wevio employs video conferencing technology to assist potential exporters to better understand the requirements and preferences of overseas markets, so they are better prepared before they travel overseas.
Wevio coordinates companies and governments to participate in international trade exhibitions in priority markets by providing the companies with a cost-effective international platform to promote their products and services.
Trade Shows Vs. Trade Missions
Trade Shows take place at fixed locations overseas.They consist of multiple booths in a convention hall in which firms exhibit their products anywhere from two days to two weeks.
Trade Missions are led by export promotion professionals who arrange individual or group meetings between buyers and sellers at appropriate overseas locations.
Why Trade Missions Are So Important For Business
To be a successful exporter, you need to travel to your target markets and build lasting commercial relationships with clients and partners. Wevio provides practical assistance before, during and after a visit, including information, logistics and advice.
- Facilitating market research.
- Participants collectively devoting more effort to market investigation.
- Greater promotional impact on market.
- Carrying a certain news value and serving trade publicity.
- Gaining access to high level business and government officials.
- The opportunity to connect with existing and new customers, access key decision makers, increase sales in international markets and exchange ideas.
- Providing wider and deeper contact coverage.
- Develop new markets and implement marketing strategies across a broad range of high-growth and emerging industry sectors.
- Establish a professional high quality, trustworthy and mutually rewarding relationship with suppliers, manufacturers, and foreign clients.
- Ensure the reliable and timely delivery of all products.
- Maintain reliable and stable administration of the organization as a whole.
- Raising general consciousness in the home country about foreign markets.
- Providing important educational experience for inexperienced exporters.
- Providing beneficial intra-group exchanges and contact for experienced exporters.
Business with Trade Missions and Without Trade Missions?
Market entry is motivated by the prospect of long-term growth and survival; organizers of trade missions can be facilitators in this process. Since risk reduction is very important in market entry processes, firms that perceive greater market entry problems can benefit more from participating in trade missions.
|With Trade Mission||Without Trade Mission|
|Marketing management practices||More systematic||Less systematic|
|Importance of trade mission in market entry||More Important||Less Important|
|Trade mission objectives||Performance||Learning|
|Market entry problems||Greater||Lower|
|Market entry process||More systematic||Less systematic|
|Market entry effectiveness||Greater||Lower|
Benefits to the Potential Exporters
Trade missions allow potential exporters to learn:
- How business is conducted overseas
- What services and products are available
- What is the receptivity of potential buyers
- What is the extent of the commitment and resources
- necessary to sell in overseas markets
- What are the answers to questions about foreign markets and the process of exporting
Benefits to the Government
Trade missions allow governments to identify:
- Local government initiatives for foreign investors
- International business opportunities
- In country foreign trade guidelines
- Understanding industries that the visiting country should be focusing on for future country’s growth
- Know more about government to government international exchange opportunities
- OBJECTIVES & MARKET RESEARCH
- STRATEGIC PLANNING & BUDGET ANALYSIS
- DELEGATION DEVELOPMENT FROM BOTH ENDS
- NETWORK BUILDING AND CREATING PROSPECTIVE BUSINESS RELATIONSHIPS
- INCREASED PUBLIC IMAGE AND POLITICAL ACCESS
- ORGANIZING INDUSTRY SPECIFIC BUSINESS MEETINGS
- BUSINESS NEGOTIATIONS, LEGAL AND ADVISORY SERVICES
- CORPORATE PARTNER IDENTIFICATION AND JOINT VENTURE