We were invited to attend CPHI Event from one of our Customers in Noida Expo Centre, Delhi. The exhibition was filled with lots of foreign visitors from Japan to the USA, Russia to Bangladesh manufacturers, distributors and all other small businesses to Business Tycoons.
Somewhere in the middle of a hall, I was talking to some of the companies which were newly exhibiting their services and are there to market their products. As they were talking to us, I told them how our services work and how one can take benefit from them.
During our conversation, Out of nowhere a heavy high pitched voice came off “But why would I even need this data?”
At first, the voice was like someone just struck me with a sort of lightning or something. As I turned sideways to take a look at that person, He was quite tall and puffed with neutral expressions on his face. He was a business owner who had started his own company based in Faridabad, Gurgaon.
“Why would I even need your data when I can make B2B connections here without even doing anything? all they have to do is just come to me and tell me what they want”
I asked, “Could you tell me what brought you here?”
“I already told you, I want to expand my business, want to make some B2B connections here and find out potential buyers for my Drugs and intermediates” He answered!
“Well, that’s what everyone’s here to do, sir. But is it possible for you to approach each and every single visitor and exhibitor available in this seminar just in three days and telling them what different values you are willing to provide?” I said.
“Of course Not, How is it even possible? and why would I approach each and every one of them? as it’s obvious not everyone would require my goods.” He answered
“Exactly, Although Events help you to exhibit and market your product to a limited amount of people and possibly some of them wouldn’t need your goods. Because it consists of every other industry that comes in your chemical commodities such as Packaging in chemical, machinery, plastic flasks and other products to preserve, and other services.
So talking to every individual one isn’t productive enough. in order to target a huge market, people come to us and ask for reports on their products.
“So you mean Exhibiting in events isn’t worth anything?” He said
“I didn’t say that. Even though Participating in Such events can give you a lot of other fruitful outcomes, like it helps you to know about your Industry more often, You can Launch your new product, or If some other companies are about to launch.
Maybe it could help you in several ways such as preserving intermediates and drugs, packaging in some manner, or you can meet suppliers for some raw materials, new services or products so You can make a lot of vital relationships with them.
Not only this but it broadens your mindset and expands your knowledge towards your particular industry.
But We can’t compare Market Research with any other thing, Paradoxically it’s different and doesn’t need any physical work instead you just have to sit down and make some calculations.
“But there’s an investment risk if it doesn’t work, isn’t it?”
“Market Research is 90% cheapest as compare to Book a stall on rent for Exhibiting. it also minimizes investment risks by giving you shipment details on your product. You can discover yours and your competitor’s weaknesses and turn it down into your strength.
“Of course you’re gonna say that so you can make people buy your services.”
“You just don’t have to sir, You can buy from anywhere you want to. That was my work to let you know the truth that people often get confused about.”
I won’t say if he bought from me or not, it doesn’t even matter but what matters is that all other doubts he had were all clear, and he was getting astonished as we explained to him about the possibility and potential his business can make.
Not only that but he was happy because he gained another knowledge in that event.
letting people know the truth of something they aren’t aware of is everyone’s responsibility. After all, we all are here to win.
Like him, There are many people that are confused about Market Research and don’t know the benefits and potential it possesses.
Staying ahead in business is often about being the first, being the best or doing something that no-one else has thought about. In order to accomplish unprecedented, you must have to do your homework.
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