Trade Show Intelligence Essay

2325 Words 10 Pages
Trade show intelligence
Introduction
Many organizations that offer products and services in their individual markets are involved in the practice of gathering data and information about their rivals or competitors. This practice is common in trade shows and other similar exhibition events. Trade shows offer a rich source of actionable information and most organizations know this and thus; their participation therein is crucial in order to adapt to their environment and keep up with their market (Calof, 2004). The aim of this paper is to discuss trade shows by focusing on how the most actionable information can be gathered from trade shows to enable better decision making and adaptation to changing environments. Firstly, a brief
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Once analyzed, the information gathered from trade shows is used as intelligence which will allow the formulation of strategic objectives and decisions in order to stay competent in the market. This gathered information therefore becomes actionable by having weight and the ability to be used to make decisions (Calof, 2004). In this context of trade show intelligence, the intelligence component therein implies the concept of competitive intelligence (CI) which is defined as a method of gathering, analyzing and distributing intelligence about the organization itself, its competitors and environment (SCIP, 2003 in Boncella, 2003).The practice of gathering trade show intelligence can therefore be considered as a competitive intelligence approach which allows an organization to maintain or grow their current position in their market through the acquisition and analysis of competitive intelligence; at minimum costs and risks (where costs also include time and resources).
By incorporating trade show intelligence into their competitive intelligence strategy, an organization can benefit and better improve its operations. For example, a hypothetical pharmaceutical company named Hamla wants to improve the chemical compound in its sleep inducing medication to have a faster effect. Hamla gains knowledge about the

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