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Econ Final: Industry Paper Trade Show Industry

1529 words - 7 pages

The reason I have chosen the trade show industry for my paper is because this is the industry I will be working in after I graduate. This industry is very different from other industry because it has its hands in so many different industries. This is because trade shows are organized for industries to get together and interact. The industry I am focusing on are the companies that put on the trade shows. Along with research I am also knowledgeable about this industry because I interned last summer for a company call Reed Exhibitions which is one of the largest trade show companies world wide. Reed Exhibition is one of the large companies you will find in this market. They have a ...view middle of the document...

The last type of structure for a tradeshow is a combination of both business to business and business to consumer, an example of this type of show is BEA (Book Expo America) which is a trade show for the book industry. The first three days of the trade show is business to business and the last day of the trade show is for both industries and consumers. This allows the book industry to be productive while allowing their consumers to also be involved in this process. These three types of trade shows gives the industry a large amount of diversity because in each of these three different types of trade shows they are also involved in so many different industries.
Trade shows deal with so many different industries that is hard to put a pulse on the “industry” it is competing in but trade shows themselves are put on by companies. These companies comprise their own industry and are highly competitive. Most trade show companies are large and put on many trade shows, there are only a few of these companies in the industry and they control a large portion of the market share. The industry also has many small companies that put on small or only one trade show, these companies are very much at the liberty of the large companies because the large companies control the industry. This industry spans worldwide because most of the large trade show companies are international companies. This industries competition can be looked at in two different ways. The overall competition of being in the trade show industry and putting on these shows. This includes the need for large spaces and only a certain amount of places that can accommodate these types of shows and are in an area that can support the shows. The second part of the industry where most of the competition is, is in the different industries themselves. For the most part construction shows are not going to be competing with trade shows for jewellery or ComicCon. They are all marketing themselves to completely different target markets which allows them to not be competing with each other. Where they are competing is with other trade shows in their industries. For example there are more than one construction show in the USA and many more worldwide, these are all put on by different trade show companies. These shows compete for the same target market and have to fight for the business of their clients. This is where trade shows can be at a disadvantage, if an industry is struggling than the trade shows struggle as well. Companies are not willing to pay to put up exhibits or to attend a show if they are struggling to keep their companies alive. This make this industry highly competitive to enter as a trade show company but more or less competitive depending on what industry the trade show is in.
This industry is highly competitive and has a very high barrier to enter because there are already so many established and well known trade shows and trade show companies in the industry. For the...

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