GEs STORY

GEs STORYCREATED BYMEHUL SONIIIT MADRAS

Hello everyone, Im Mehul Soni, a student at IIT Madras. Through my presentation I would be taking you through GEs story, how it earned its place in the top 100 global brands.

GE - bUSINESS TO BUSINESS MARKETING

So beginning with GEs marketing startegy that Im going to discuss today, I would highlight a very important concept of B2b marketing.

WHAT IS BUSINESS TO BUSINESS MARKETING?

: sale of one companys product or service to another company

What is B2B markeintg? A VERY BASIC DEFINITON is sale of one companys product or service to another company, or in other words marketing of products to a business or an organozation.

B2B MARKETING CHARACTERISTICS

Complex Decision-Making UnitB2B Buyers Are More Rational"Products Are Often More ComplexFewer Behavioral And Needs-Based SegmentsPersonal Relationships Are More ImportantDrive Innovation Less Than Consumer Markets

Its important to identify some typical characteristcs of B2B marketing. First it invloves a very complex decision making unit, the buyers involved in such marketing model are often more rational compared to other forms of marketing. The small number of segments which is mainly because of smaller target audience. Personal relationships is one key factor here as a small customer base that buys regularly from a business to business supplier is relatively easy to talk to. In the end, it drives innovation lesser than the consumer markets, they usually do so as a response to an innovation that has happened upstream.

Heres an interesting picture showing you a typical marketing strategy machine.

THE VITAL COGS OF THE B2B MARKETING MACHINEA CURRENT, EASY-TO-NAVIGATE, RESPONSIVE WEBSITEMARKETING AUTOMATION TECHNOLOGYA SOCIAL MEDIA PRESENCEAN ACTIVE, INFORMATIVE BLOGA MEANINGFUL CONTENT MARKETING STRATEGY

So, some important components of the b2b MARKETING machine are a current, easy to navigate responsive website, incorporating the tehnology of automation marketing that allows companies to improve engagement and increase efficiency in order to grow revenue faster. A good social media presence along with an active informative blog also supports the brand establishment. A very important aspect is the content which need to be meaningful in marketing.

HISTORY OF GENERAL ELECTRIC(GE)

Now that we have understood business to business, we would try to analyse the company general electric. GE was started as a laboratory by thomas edison in 1876. In a span of few years it showed substantial expenasion in areas like electronics, computers. In 1996 it introduced the six sigma technology, a set of technoques and tools for process improvement under Jack welch. Then ceo of ge. Under Jeffrey immlet who became the ceo in 2001, ge reorganized its 11 business into 6 large units along with restructural changes during recession of 2008 and 2009,

GE DIVISIONS

Today ge has five major divisions, energy, technology infrstructure, ge capital, nbc commerial and consumer & industrial.

1. IMPORTANCE OF B-to-B marketing and a strong b-to-b brand to ge???

We would try to analyze two questions in this presenation. The first one being importance of b2b marketing and a strong b2b band to GE?

Unification of business through corporate campaignsAcknowledged pioneer in B2B marketing since 1950s and 1960s facilitating industrial improvementGrowth of Brand EquityLarge revenue generation- ability to understand business customersB2B BRANDING AND MARKETING

So b2b marketing which we have understood from the previous slides has been the companys strategy since beginning. Through corporate compaigns and taglines like Progress for People and We bring good things to life, it has achieved unification of its businesses. Through its ltagline Progress is our most important product made it an acknowledged pioneer in b2b marketing since 1950s and 1960s. It has been generating large revenue primarily because of its ability to understand business customers. The company has seen significant growth in brand equity which was indeed ranked fourth and valued at $48 billion in 2009.

2. Have IMAGINATION AT WORK, ECOMAGINATION AND HEALTHYMAGINATION COMMUNICATED GES FOCUS ON ITS NEW ENDEAVORS??

The next question is have campaigns like imagination at work, ecomagination and healthymagination communicated ges focus on its new endeavours?

Unified global messageRenewed focus on innovation and new technologyAward winning campaign

In 2003, in order to promote its diversified brand with a global message, the company launched the campaign Imagination at work which was focused on innovation and new technology.

Companys efforts to develop environmentally friendly GREEN TECHNOLOGY such as solar energy, lower-emission engines and water purification technologies.

In 2005, the company extended its campaign with the next initiative Ecomagination: an effort to develop environmentally friendly Green technology such as solar energy, lowet-emission engines and water-purification technologies.

Heres an image of an offshore wind turbine- a product of ecomagination.

The company observed various factors from its campaigns. It saved money, had a message of industrialisation along with just being about green. It helpled customers save money, created jobs and an important point to be mentioned is that they discovered that a system was required to carry it forward.

GE continued to use the Ecomagination campaign and introduced Healthymagination.

HEALTHYMAGINATIONLowering costsImproving qualityTouching more lives

The key features of this campaign were lowering costs, touching more lives and improving quality which communicated its advances in medical technologies around the world.

SUMMARYDefinition of Business to Business marketingCharacteristics of Business to Business marketingB2B marketing strategy machine History of General ElectricMini Case questions on GE: B2B marketing and brandingGE campaigns: Imagination at Work, Ecomagination, Healthymagination

Heres a brief summary of what we discussed in this presentation. Firstly we started with what is b2b marketing, its characteristics then a typical b2b marketing machine. We moved forward with a brief overview on the history of GE and then we attempted to answer the two questions given here.

If you dont have competitive advantage, dont compete.Jack Welch, Former CEO of GE

This is a famous quote by former ceo of ge, jack welch: if you dont have competitive advantage, dont compete.

Thank you for being patient.

This presentation is created by mehul soni, IIT MADRAS during a marketing management internship with prof. sameer mathur, iim lucknow

This presentaion has been made by me during a marketing management internship with professor saneer mathur, iim lucknow.