marketing presntation (1)

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Marketing Strategy for General Electric Colin Bergmann

Products and Services  Aviation : GE manufactures aircraft engines for both commercial and military applications. (Forbes)  Power : The company provides power generation solutions, including gas and steam turbines, generators, and renewable energy technologies. (Forbes)  Renewable Energy : GE is involved in the development and manufacturing of renewable energy technologies such as wind turbines. (Forbes)  Healthcare : GE Healthcare offers a variety of medical technologies, including diagnostic imaging, patient monitoring, and life sciences. (Forbes) Sample Footer Text 2

Current Issues/Opportuniti es Sample Footer Text 3 Decline in Revenue especially in renewable energy market (Forbes) Decline in Market Share (Forbes) GE shares have underperformed the market over the last two decades although they have been up within the past year (Forbes) GE will split into three separate focused companies offering opportunity (Pound, 2021)

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Why are they Problems? Loss of Market Share - “Under most circumstances, enterprises that have achieved a high share of the markets they serve are considerably more profitable than their smaller-share rivals.”(Buzzell et al., 1975) Loss of Revenue - If the top line (gross sales or revenue) has declined, your overall profit margin will fall because there is less revenue to spread fixed costs over. While no CEO likes to see the company's stock price fall, there's no direct or immediate hit on the company itself. Companies can sell additional shares of stock to raise cash for various purposes, including to expand. When a stock price is falling, the company must sell more shares to raise money. If a stock price falls by a large amount, a company might be forced to borrow to raise money instead, which is usually more expensive. This Photo by Unknown author is licensed under CC BY-ND .

SWOT Analysis Strengths Opportunities 1.Diversified Product Portfolio 2.Innovation and Technology 3. Global Presence 4. Brand Recognition 5. Great Place to Work 1. Growing International Market 2. Healthcare Technology Advancements 3. Mergers and Acquisitions 4. Renewable energy 5. Digitalization Weaknesses Threats 1. Declining Performance in some business units 2. High Debt Levels 3. Legal Issues 4. Dependence on 3 rd Party Suppliers 1. Intense Competition 2. Currency Fluctuations 3. Rising Pay level 4. Economic Downturn 5. Regulatory Environment Sample Footer Text 5

Strengths  Diversified Portfolio- the company is not overly dependent on a single industry, and its various business segments can balance out the impact of weaknesses in one sector with strengths in another.  This factor is significant because it enables GE to mitigate risks associated with industry-specific challenges and economic downturns.  For the marketing team, leveraging the diversified portfolio in their strategy could involve emphasizing GE's ability to provide comprehensive solutions across multiple industries.  The marketing team could highlight the resilience that comes from being involved in aviation, healthcare, power, and renewable energy. This diversification can be marketed as a strength that not only offers stability to investors but also provides a wide range of innovative solutions for customers across different sectors. 6

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Weaknesses  High Level of Debt- GE has historically carried significant debt, impacting its financial flexibility and ability to invest in innovation and growth initiatives.  High debt levels can constrain a company's ability to undertake strategic initiatives, hinder its capacity to respond to market changes, and create financial instability.  The marketing team could highlight he company's commitment to financial discipline and debt reduction in marketing communications to instill confidence among stakeholders  Transparency regarding debt reduction plans and financial responsibility can positively influence the perception of GE's financial health and contribute to rebuilding trust in the brand. Sample Footer Text 7

Opportunities  Global shift towards renewable energy - Understanding this shift is paramount because it represents a significant growth area, aligning with the increasing focus on environmental consciousness and clean energy solutions worldwide  To capitalize on this factor the marketing team can highlight GE's efforts and achievements in developing and promoting renewable energy solutions. Emphasize the positive environmental impact of these technologies, appealing to consumers and businesses increasingly prioritizing sustainability.  Furthermore, they can share real-world examples and success stories of businesses or communities that have benefited from implementing GE's renewable energy solutions. This can build trust and serve as compelling evidence of the practical advantages of choosing GE for sustainable energy needs. Sample Footer Text 8

Threats  Intense Competition- Understanding intense competition is crucial in the threats pillar because it directly impacts market share, pricing strategies, and overall profitability. In highly competitive markets, companies like General Electric (GE) need to continually differentiate themselves to maintain and gain market share.  To leverage intense competition in their marketing strategy, the marketing team can:  Emphasize unique selling propositions and highlight what sets the company’s products or services apart from competitors.  Identify and target specific market segments where the company can excel. Tailor marketing messages and offerings to meet the unique needs and preferences of these segments. Sample Footer Text 9

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Strategic Vision Sample Footer Text 10 Recognizing its diversified portfolio and historical emphasis on innovation, GE should reinforce its commitment to sustainable practices, aligning with its goal of achieving net-zero greenhouse gas emissions by 2050. This commitment not only resonates with global environmental concerns but also aligns with the growing market demand for sustainable solutions. The strategic vision should emphasize a two- pronged approach: first, optimizing existing core businesses by driving efficiency, innovation, and global expansion in sectors like aviation, healthcare, and renewable energy; and second, investing in emerging technologies and partnerships to stay at the forefront of industry trends. GE's marketing strategy should amplify its commitment to sustainability, emphasizing the positive environmental impact of its products and services. Differentiation and innovation must remain central to GE's marketing narrative, showcasing the company as a leader in providing cutting-edge, eco-friendly solutions.

Target Audience  General Electric (GE) has a diverse target audience due to its extensive range of products and services. This audience includes:  Existing Audience to Retain:  Industrial Clients: GE has long-standing relationships with various industries, providing them with industrial solutions, technology, and services. Retaining these industrial clients is crucial for maintaining a steady revenue stream and strengthening the brand's presence in key sectors.  Consumer Base: GE's household appliances and consumer electronics have created a consumer base over the years. Retaining these customers involves offering reliable products, excellent customer service, and potentially introducing new features to keep pace with evolving consumer needs.  Potential Audience to Acquire:  New Businesses and Industries: GE, being a diversified conglomerate, constantly seeks opportunities in emerging industries. Acquiring new industrial clients and expanding into new sectors allows GE to tap into fresh markets and diversify its portfolio.  New Consumer Segments: As consumer preferences and demographics evolve, GE may target new consumer segments for its household products. Acquiring customers in emerging markets or reaching out to specific demographics with tailored offerings could be part of GE's growth strategy.  Investors: GE may actively seek to acquire new investors or retain and expand its existing investor base. Demonstrating strong financial performance, outlining growth strategies, and showcasing potential returns are essential for attracting and acquiring new investors. Sample Footer Text 11

Demographics, Psychographics, and Behavioral Traits:  Demographics:  Age : Wide age range, with industrial clients typically representing middle-aged professionals, and consumers ranging from young adults to older demographics.  Income : Varied income levels, from individual consumers with moderate income to high-income corporations.  Psychographics:  Innovation Enthusiasts: Consumers and businesses interested in cutting-edge technological solutions and advancements.  Environmentally Conscious : With a focus on eco-friendly products and solutions, GE attracts those who prioritize sustainability.  Behavioral Traits:  Brand Loyalty : GE has a history of brand loyalty among industrial clients who rely on its technologies. Consumer loyalty may vary based on product categories.  Informed Decision-Makers: Given the complexity of its products, GE's audience tends to be well-informed and involved in thorough decision-making processes.

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Target Audience with Support Growth  The target audience is likely to support the growth and brand equity of General Electric (GE) for several key reasons:  Innovation Leadership: GE has a long history of innovation and technological leadership. Its target audience, particularly businesses seeking industrial solutions and consumers looking for advanced products, is likely to support GE's growth due to the company's reputation for introducing cutting-edge technologies.  Global Impact: GE's global presence and impact in various industries position it as a key player on the world stage. The target audience, which includes businesses operating globally and consumers in diverse markets, may support GE's growth due to the company's ability to address international needs and contribute to global advancements.  Financial Performance: Investors, a critical part of GE's target audience, are likely to support the company's growth if it can demonstrate strong financial performance. Positive financial indicators, strategic initiatives, and a clear path to sustained growth are essential factors that can attract and retain investor support, thereby enhancing brand equity.

4 th in market share among competitors behind Berkshire Hathaway, Honda, and Tesla (CSI Market) 1st in the Electric & Wiring Equipment Industry with at 92.98% market share (CSI Market) Current Market Share Sample Footer Text 14

Article 1: Rise and Fall of GE  The source outlines the rise and fall of General Electric (GE), a company that once defined American industry and corporate culture.  The article emphasizes the challenges that led to GE's decline, including financial troubles during the Great Recession, questionable accounting practices, and a series of unsuccessful business moves. (Hansen, 2022)  Regarding the brand, the source does not explicitly delve into the current state of GE's brand identity. However, it does discuss how GE's market capitalization was built on overly optimistic assessments of the sustainability of its earnings and the value of its financial assets. The article suggests that GE's brand has been challenged by a series of setbacks. (Hansen, 2022).  The source appears to present a critical perspective on GE's brand identity, particularly in the context of its decline. It points out instances of financial mismanagement, the impact of the 2008 financial crisis, and the subsequent efforts to restructure the company. While GE is acknowledged as remaining a force in its three main business sectors, the article implies that its size and historical challenges have affected its overall brand equity. Sample Footer Text 15

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Article 2: General Electric Strategies Over Centuries  The article discusses General Electric's (GE) success during the 20th century, attributing it to key factors such as diversification, innovation, global reach, marketing strategies, and branding efforts. (Almarshd, 2023)  The source highlights GE's brand strength through its innovative and diversified approach, emphasizing key elements like global reach, marketing strategies, advertising campaigns, sponsorship, and content marketing. GE's strong brand identities and marketing campaigns, such as "We Bring Good Things to Life" and "Ecomagination," are underscored as significant contributors to its success. (Almarshd, 2023)  The source appears to be in favor of GE's brand identity, acknowledging its historical strengths in diversification, innovation, and marketing. The positive tone suggests that GE's brand identity played a crucial role in its success, especially during the 20th century. The focus on various marketing strategies and sponsorship activities implies a belief in the effectiveness of these approaches for bolstering GE's brand.  While the article emphasizes GE's historical successes, it doesn't provide a direct assessment of the current brand equity or market position. However, it does touch on GE's ongoing impact in its three main business sectors, its significant international presence, and its efforts to adapt through restructuring, as seen in the 2021 plan to split into three independent companies. The article suggests that GE's historical strategic planning has had a lasting impact on contemporary strategy, indicating a recognition of its enduring influence. Sample Footer Text 16 This Photo by Unknown author is licensed under CC BY-NC .

Brand Marketing Strategies 1. Emphasize Sustainability Initiatives: In today's market, environmental sustainability is a crucial factor for consumers and businesses. By placing a strong emphasis on its sustainability initiatives, General Electric (GE) can align itself with the growing demand for eco-friendly practices. This could involve highlighting green technologies, energy- efficient solutions, and reduced environmental impact across its product lines. GE's commitment to sustainability not only resonates with environmentally conscious consumers but also positions the company as an industry leader in responsible business practices. 2. Implement Personalized Marketing and Customer Engagement: Personalization is a key driver of consumer engagement. GE can enhance its brand relevancy by implementing personalized marketing strategies that cater to the specific needs and preferences of its diverse target audience. This involves leveraging data analytics and customer insights to deliver tailored content, product recommendations, and experiences. Additionally, fostering interactive and engaging customer interactions, such as through online platforms and social media, can strengthen the brand's connection with its audience.

Central Theme & Marketing Message advancements, and transportation innovations. The marketing message will seek to communicate GE's role as a global leader in technology and innovation, addressing today's challenges while envisioning a sustainable and technologically advanced future. The focus will be on how GE's diverse business segments contribute to solving global issues, such as clean energy, healthcare advancements, and transportation innovations. Innovating Tomorrow, Powering Today Innovating Tomorrow, Powering Today This theme aims to highlight GE's commitment to innovation, advanced technology, and sustainable solutions that power the present while laying the foundation for a better future.

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Why this Message  This message is suitable because it aligns with GE's core strengths and addresses the current global trend of businesses contributing to social and environmental well-being. Two key factors that will engage the audience are:  Innovation Storytelling: Narrating success stories of how GE's innovations have positively impacted communities and industries.  Interactive Content: Engaging the audience through interactive content, such as virtual tours of GE facilities or live demonstrations of cutting-edge technologies.

Marketing Channels  Social Media (LinkedIn and Instagram):  LinkedIn: Targeting professionals and businesses through thought leadership articles, case studies, and updates on GE's innovations.  GE's primary audience includes business and industry decision- makers. LinkedIn offers a direct channel to reach these individuals, share complex technological advancements, and position GE as a thought leader in various sectors.  Instagram: Focusing on visually appealing content, showcasing the human side of GE, behind-the-scenes glimpses, and visually impactful snippets of innovations.  GE's innovations appeal to tech-savvy audiences, and Instagram allows the brand to connect with millennials, influencers, and technology enthusiasts. The platform provides a space for GE to visually communicate its commitment to innovation and sustainability.  Email Marketing: Utilizing targeted email campaigns to deliver in-depth content, exclusive insights, and invitations to webinars or virtual events.  Email marketing is a preferred channel for business professionals seeking detailed information. It aligns with GE's B2B focus, allowing the brand to deliver comprehensive content directly to the inbox of key decision-makers.

Marketing Metrics  Engagement Rate: The percentage of the audience interacting with the content (likes, shares, comments).  Measures the level of interest and resonance of the campaign, indicating whether the content is compelling and sharable.  Conversion Rate from Email Campaigns: The percentage of recipients who took the desired action after clicking on a link in the email.  Assesses the effectiveness of the email campaigns in converting interest into further engagement, potentially leading to business inquiries or participation in events.

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Importance of Measurement  Optimize Strategies: Understand which channels and content resonate most with the audience, allowing for adjustments to optimize future campaigns.  Allocate Resources Efficiently: Identify the most effective marketing channels to allocate resources wisely, ensuring a better return on investment.  Enhance Audience Understanding: Gauge the audience's preferences, behaviors, and responses, contributing to a more nuanced understanding that can inform future marketing strategies.

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CSR  A CSR component will be integrated into the campaign by showcasing GE's sustainability initiatives and social responsibility projects.  This will include highlighting GE's efforts in reducing its environmental impact, promoting diversity and inclusion, and contributing to community development.  The CSR element aims to align with the growing consumer demand for socially responsible businesses, enhancing GE's brand image and connecting with an audience increasingly concerned about corporate responsibility.

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References  Almarshd, M. (2023). Case study: General electric strategies over centuries. Medium . https://medium.com/@1Maiomna/case-study-general-electric-strategies-over-centuries-2a 60534049b6  Buzzell R. D., Gale B. T., Sultan R. G.M.(1975).Market Share—a Key to Profitability. Harvard Business Review. https://hbr.org/1975/01/market-share-a-key-to-profitability#:~:text=It%20is%20now%20 widely%20recognized,than%20their%20smaller%2Dshare%20rivals .  CSIMarket Company. (2023). GE’s vs. market share relative to its competitors, as of Q3 2023. CSIMarket. https://csimarket.com/stocks/competitionSEG2.php?code=GE  Forbes. (2023). General Electric. https://www.forbes.com/companies/general-electric/?sh=6b8c30933970  Hansen, S. (2022). The rise and fall of General Electric (GE). Investopedia. https://www.investopedia.com/insights/rise-and-fall-ge/  Pound, J. (2021). GE to break up into 3 companies focusing on aviation, health care and energy. CNBC. https://www.cnbc.com/2021/11/09/ge-to-break-up-into-3-companies-focusing-on-aviation- healthcare-and-energy.html Sample Footer Text 24

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marketing presntation (1)

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