The companies in question include; Shell, a company dealing in the sale of petroleum products, Tigo and Tanzanian based Telecommunications Company and Barclays Bank, a British owned bank. The three marketing opportunities I suggest that each of these firms should pursue include; Event sponsorship, Speaking engagements and Community Outreach.
This is when an organization or company decides to sponsor an event for example, a sports event or any other discipline which could be social political or economic in nature
Event sponsorship is a high value way of reaching out to others. It helps the organization in making people know about its existence, what the company actually deals in, company office premises, company website, and other details about the company through announcements during the event. The benefits that may be yield from event sponsorship can be overwhelming to all the three companies, i.e. Shell, Tigo and Barclays .
This as well gives a particular company the opportunity to build good will amongst the society in which it operates. Event sponsoring results into good public relations and it applies to all the three companies in question. For example by sponsoring the English Premier league, Barclays Bank builds good will not only amongst the English people but also amongst all people who watch the English premier league worldwide .
Considering the high rate of profitability which event sponsorship comes along with, it is evident that Shell, Tigo and Barclays Bank need to take up event sponsorship as a marketing opportunity which is a low hanging fruit due to its quick and constant profit fetching ability.
The risk involved in pursuing event sponsoring marketing opportunity that Shell, Tigo and Barclays Bank may encounter is its expense. Attention should be drawn to the fact that some of the events that shell, Tigo or Barclays may choose to sponsor spend a long period of time. The implication of this is that the longer time the event takes, the more the money the company has to spend sponsoring it. This means that the event may be expensive for the company to sponsor yet the company’s major aim is to make profits.
Community outreach programs may also be appropriate marketing opportunities for Shell, Tigo, and Barclays Bank. Countries hit by conditions like hunger in Somalia and Northern Kenya, war disturbed countries like Ivory coast, Sudan, earth quake in Haiti, Tsunami Japan, etc, may be good marketing opportunities for shell, Tigo and Barclays by reaching out to them in terms of providing food, for the hungry, shelter for war displaced people and etc. In the long run, the rescued people and governments where relief aid is given may turn out to be potential clients to Shell, Tigo and Barclays. Community outreach is a home runs marketing opportunity due to the fact that it may start yielding returns in medium run.
The risk involved in pursuing community outreach as a marking opportunity is that it may not be fully reliable since it calls for the company to be on the lookout for a community going through hard time like natural disasters. In case the world is free from natural and manmade disasters, the market opportunity strategy stands to remain unutilized .
Speaking engagements during conferences and seminars have for long been used as tools in marketing. In the same way, Shell, Tigo and Barclays Bank can apply it. During such talking sessions, governments which are the biggest consumers for the services produced by Shell, Tigo and Barclays come to understand what those particular companies do.
Speaking engagements marketing opportunity is categorized as singles following the fact that it yields returns in a long run. Some of these international conferences or seminars take long to yield tangible financial benefits to the companies in question and this stands as its biggest risk.
The most strongly recommended marketing opportunity for Shell, Tigo or Barclays Bank is Event sponsorship. I have recommended Event sponsorship because of the quick and easy way of building a working relationship between the company and their clients.
In a nut shell, Shell, Tigo and Barclays stand to benefit a lot if they employ Event sponsorship, Community Outreach and speaking engagements as marketing opportunities. However Event sponsorship programs stand out as the most recommended marketing opportunity due to its fruit hanging nature for Shell, Tigo and Barclays Bank.