Marketing Trade Show
The Marketing Trade show is a fun practical assignment that is a highlight of the first-year marketing paper MRKTG101 Fundamentals of Successful Marketing, as it allows students to put theory into practice.
Each semester, teams of students compete for prizes and prestige by developing a real-world marketing strategy for a hypothetical new product. This is based around a theme, such as pet accessories, toys and games, or snacks and beverages.
They also face the challenge of creating an exhibit stand and trying to ‘sell’ their product in a simulated trade show environment to a panel of judges, who take on the role of potential buyers. The assignment leads to some clever, creative and sometimes unexpected results!
Each team's marketing strategy must include the 'Four Ps', ie. product benefits, price, people (target market), and places of distribution, such as major retailers
The process includes:
- Developing an idea for a new product based around a unique selling point (USP)
- Choosing a target market of consumers
- Conducting market testing
- Designing retail packaging
- Formulating a pricing strategy
- Deciding where to distribute the product (retail outlets)
- Deciding how to promote the product (advertising channels).
The event itself is full of energy and excitement, with around 100 exhibits on display each semester.
The winning team receives a $200 voucher from the Vice-Chancellor. There are also prizes for best exhibit and best costumes.
“It’s always interesting to see what creative ideas students can produce when given no boundaries," says senior lecturer in marketing Dr Mark Kilgour.
"Every year, there are some innovative ideas that are feasible and able to be taken to market. I would highly encourage those students to continue developing their ideas by visiting the University's Innovation Station."
A Semester Show: Friday, 26 May 2017
B Semester Show: Friday, 29 September 2017
4.30pm – 7pm, with the winners announced in the PWC lecture theatre at 7pm.
MSB1, the foyer on level one of the Waikato Management School building, Hillcrest Road, University of Waikato, Hamilton.
Members of the public are welcome to pop in and check out the students' exhibits. It's a great way to get a sense for what marketing is all about, especially if you're considering studying this subject.
Feedback from students of MRKTG101
Lucy Hill, Bachelor of Management Studies
“The trade show has been a lot of fun. The best part of it has been coming up with creative ideas and applying the marketing theory we’ve learnt. The whole experience has pushed us outside our comfort zones and inspired us to think about starting our own business together with our product.”
Jaco Storm, Bachelor of Computing and Mathematical Sciences
Jaco says he took MRKTG101 as an elective papers to learn something completely new.
"I used to hate marketing because I completely misunderstood it; but now I really enjoy it! One day I'd like to start my own business. I never realised that marketing was so broad. It goes all the way from the beginning of the product life cycle with design, then advertising, finance and distribution."
Owen Chapman, marketing tutor for MRKTG101
“I love the fun, energy and excitement that is present at the trade show. Although it’s an annual event, the students never fail to surprise us. We hope these students continue to feel the passion of marketing.”