What is most important “innovation or effective local business marketing strategy”? Certainly it is very difficult to answer. Let’s come to the point. We are not going to have a heated debate over the issue. We just try to say that marketing policy or strategy is very important indeed to promote product or service. Regardless of large or small, local business marketing or international business marketing branding and product promotional secret should be come first. Trade show marketing strategy is a great part of marketing strategy and it is a very hot issue now a days. Just look at China. China is organizing world largest trade show. The show is truly gigantic. But some common mistakes over trade show can make the things worse. Let’s try to find how to avoid that mistake.

Plan carefully
A good trade show planning can certainly very useful to boost up company’s marketing issue. Making a good balance between strategic marketing and exhibit marketing plan should be considered. Ask yourself whether you would like to promote existing products or introduce new products.

Fix budget
Budget is mostly responsible to generate promotional activities level. So fix your budget and then try to make a meaningful theme or message related to strategic marketing plan to help promotional decisions. If you are planning to participate international trade show then budget would be much higher. So carefully make a balance between your budget and expectation from the trade show.

Know target market
Know your target and implement various promotional programs like e-mail, sending faxes, providing wristbands, TV advertising, printing ad and so on. Marketing through online is also very cost effective. Besides many promotional campaign just try to make sure that visitors are attracted and visit you.

Maintain good relation with press
Remember press naturally contributes a lot to promote your company’s image or brand. So arrange press releases to let the others know about your product/service, or highlighting a new application or market venture. Just remember press can sink you and also can give a good lift.

Show Uniqueness
Try to differentiate you from others by gaining visitors mind. Good looking booth, smart booth attendants can attract visitors. The key point is to present make you unique from too many exhibitors. Participate in trade show is not everything you want. It is just the beginning. Main focus should be promotion of new or existing products or services effectively.

Expensive watch story has not finished yet. A New York based banker bought a watch at $11 million in 1932. What a great fun! It was a gold pocket watch made by Patek Philippe. Actually baker might paid for gold not watch. Meanwhile it was the most complicated watch in the world for fifty years.

Patek Philippe is well known for its expensive watch. It’s another expensive watch was Platinum World Time created and was sold at auction for over $4 million USD in 2002. In fact, Patek Philippe had produced all of the ten most expensive watches in the world. The company, headquartered in Geneva, made their first wristwatch in 1868.

A watch required 10000 hours to produce! Yes It’s true Swiss watchmaker Vacheron Constantin marked its 250th anniversary in 2005 with the world’s most complicated wrist watch—the Tour de l’Ile. It was $1.5 million watch only produced seven pieces!

Todays business house faces intense competition. Thus Companies have opted powerful computers to sift through volumes of supermarket scanner data and analyze market research reports for years. However, relentless innovations in computer processing power, disk storage, and statistical software are dramatically increasing the accuracy of analysis while driving down the cost.

Data mining emphasizes on consumer focus – retail, financial, communication, and marketing organizations.These variables enables business houses to asses relationships among “internal” factors such as price, product positioning, or staff skills, and “external” factors such as economic indicators, competition, and customer demographics. And, it enables them to determine the impact on sales, customer satisfaction, and corporate profits. Finally, it enables them to “drill down” into summary information to view detail transactional data.

Data mining allows a retailer to use point-of-sale records of customer purchases to send targeted promotions based on an individual’s purchase history. By mining demographic data from comment or warranty cards, the retailer could develop products and promotions to appeal to specific customer segments.

Recently a a large chain super shop have used the data mining capacity of Oracle software to analyze local buying patterns. They discovered that when men bought diapers on Thursdays and Saturdays, they also tended to buy beer. Further analysis showed that these shoppers typically did their weekly grocery shopping on Saturdays. On Thursdays, however, they only bought a few items. The retailer concluded that they purchased the beer to have it available for the upcoming weekend. The grocery chain could use this newly discovered information in various ways to increase revenue. For example, they could move the beer display closer to the diaper display. And, they could make sure beer and diapers were sold at full price on Thursdays.

Another nice example is WalMart that is pioneering large data mining to transform its supplier relationships. WalMart gathers point-of-sale transactions from over 2,900 stores in 6 countries and continuously transfer this data to its massive 7.5 terabyte Teradata data warehouse. WalMart allows more than 3,500 suppliers, to access data on their products and perform data analyses. These suppliers use this data to identify customer buying patterns at the store display level. They use this information to manage local store inventory and identify new merchandising opportunities. In 1995, WalMart computers processed over 1 million complex data queries.