The companies in question include; Tallow Oil a British Oil company, SBI International Holdings, a construction company from Israel, and Ethiopian Airlines, an Ethiopian airline company. The three marketing opportunities I suggest that each of these firms should pursue include; Event sponsorship, Speaking engagements and Community Outreach
This is when a company decides to sponsor an event for example, a marathon, a soccer gala or tournament and any other disciplines social political or economic event.
Event sponsorship is a high value way of reaching out to others. It helps the company in letting the population know about its existence, what the company actually specializes in, company office premises, company website, and other details about the company through announcements during the event. These benefits go to all the above companies, i.e. Tallow Oil, SBI International Holdings and Ethiopian Airlines (Skinner & Rukavina, 2003).
This as well gives the company a good image in the society. Event sponsoring results into good public relations and it applies to all the three companies in question. For example Tallow Oil, an Oil company and SBI International Holdings which are sometimes involved in land wrangles have to clear their names through events sponsorships in order to be accepted by people and governments in countries they win their contracts (Skinner & Rukavina, 2003).
Considering the high rate of profitability which event sponsorship is likely to yield to these three companies, i.e. Tallow Oil, SBI International Holdings and Ethiopian Air lines, it is clear that event sponsoring marketing opportunity is a low hanging fruit because quick and consistent profits are assured from Event sponsorships (Skinner & Rukavina, 2003).
The risk involved in pursuing event sponsoring marketing opportunity is that it may prove too expensive to the companies in question. It should be recognized that all these are international companies, whereby if event sponsoring is take up globally, it may prove hard and non cost-effective for any of the companies in question (Skinner & Rukavina, 2003).
Community outreach programs may be good market opportunities for Tallow Oil, SBI International Holdings and Ethiopian Air lines. Countries hit by natural disasters like last year’s earthquake in Haiti, this year’s Japanese, tsunami and many others can be good marketing opportunities as companies like Tallow Oil, SBI International Holdings and Ethiopian Air lines can easily turn them into profitable ventures by reaching out to the displaced and other people hit by the natural disaster. Such outreach programs can be inform of providing relief aid to such people and in the long run, the rescued people and governments where relief aid is given, may turn out to be potential clients to those companies (Faura, 2006).
Community outreach is a home runs marketing opportunity due to the fact that it may start yielding returns in medium run (Faura, 2006).
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 at free from natural disasters, the market opportunity strategy stands to remain unutilised (Faura, 2006).
Speaking engagements during conferences and seminars can be a good marketing opportunity for Tallow Oil, SBI International Holdings and the Ethiopian Air Lines. During such talking sessions, governments which are the biggest consumers for the services produced by the companies come to understand what those particular companies deal in (Benjamin, 2006).
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 (Benjamin, 2006).
The risk involved in pursuing Speaking engagements as a reliable marketing opportunity is that Speaking engagements are not reliable since their returns are realized in the long run.
The most strongly recommended marketing opportunity for Tallow Oil, SBI International Holding and Ethiopian Airlines 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 (Benjamin, 2006).
Event sponsorship given chance would be an opportunity to build a strong working a relationship between the Tallow Oil, SBI International Holdings and Ethiopian Airlines and their clients. Event sponsorship is a powerful tool in creating positive public relationship for the above companies.
In a nut shell Tallow oil, SBI International Holdings and Ethiopian Airlines 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 for Tallow oil, SBI International Holdings and Ethiopian Airlines.