EXHIBITION AND TRADE FAIR ACTIVITIES AS AN EFFECTIVE FRAMEWORK FOR BRAND PROMOTION

Abstract

The object of analysis in this study is exhibition and trade fair activities in Ukraine and abroad. It is argued that in contemporary realia, exhibition and trade fair activities is a crucial strategic element in building marketing communications. The research results on the development trends of modern exhibition business in Ukraine suggest that the exhibition industry is still in its infancy. The findings reveal the sector-specific issues. In particular, among the key challenges are the following: insufficient exhibition infrastructure development, the lack of transparency of the exhibition market, the lack of experience in the most effective use of this type of product promotion, etc. Based on statistical analysis and the legal regulatory framework review, the key exhibition business development trends in Ukraine have been presented along with identifying the major factors hindering the exhibition industry development. From this perspective, a conclusion has been drawn about the conceptual and terminological immaturity in the area of carrying out exhibition and trade fair activities in Ukraine. An emphasis is also put on the profound effects of the COVID-19 pandemic on the exhibition industry globally. The study results demonstrate evidence of a significant decline in economic performance in this industry; in particular, this refers to a drastic decrease in companies’ income, a drop in investment flows, and costs of organizing exhibition events. Modern business environment is facing dramatic changes in exhibition and trade fair management, especially in the context of digital technologies advancements. A shift in priorities is a forced necessity, since virtual events is the safest method to promote companies and brands. Investing in virtual participation remains a key element in the survival plan of many exhibitions. The study discusses the need to design a strategy to boost exhibition activities in Ukraine, with due regard to the national socioeconomic development specifics along with suggesting priority measures to support the exhibition industry, such as affordable loans, tax «holidays» to ensure liquidity, long-term support in the form of direct subsidies which will contribute to sales and exhibition services market recovery, as well as further economic development in Ukraine.