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  • -One of America’s most enduring companies -157 billion revenues/ over 350 billion in market value in 2005

Ge Ge Presentation Transcript

  • General Electric Group 1 Victoria Kennedy Antonia Harper Iris Hsiao Bryan Lai Ju-Young Bang
  • 1878 1954 Edison Electric Light Company “ This room is equipped with Edison Electric Light. Do not attempt to light with match. Simply turn key on wall by door.” Post-2001 The Jeff Immelt Years 1981-2001 The Jack Welch Years 1954-1980 The Growing Years 1878-1954 The Early Years
  • 1878 1954 -1892 Merged with Thomas-Houston Company ---> General Electric Company Post-2001 The Jeff Immelt Years 1981-2001 The Jack Welch Years 1954-1980 The Growing Years 1878-1954 The Early Years
  • 1878 1954 -1900s “ Everyone wants Electric Light, its Luxury--Comfort--Cleanliness--Convenience. Everybody can now afford it” “ Electric Light is Now Cheaper. Ask your Electric Light Company about this new lamp tomorrow morning. Find out why it is so economical. Learn how you can have Electricity Light at one half of the old Cost” Post-2001 The Jeff Immelt Years 1981-2001 The Jack Welch Years 1954-1980 The Growing Years 1878-1954 The Early Years
  • 1878 1954 -1900s -1910s GE Transportation GE Appliances GE Plastic GE Financial Service GE Medical Supplies Radio Corporation of America Few consumers recognize the GE brand. Post-2001 The Jeff Immelt Years 1981-2001 The Jack Welch Years 1954-1980 The Growing Years 1878-1954 The Early Years
  • 1878 1954 -1922
    • GE hired ad agency, BDO
      • General Electric Company
      • “ The Initials of a Friend…GE”
    Post-2001 The Jeff Immelt Years 1981-2001 The Jack Welch Years 1954-1980 The Growing Years 1878-1954 The Early Years
  • 1878 1954 -1930s “ More Goods For More People At Less Cost” -->Depression years Post-2001 The Jeff Immelt Years 1981-2001 The Jack Welch Years 1954-1980 The Growing Years 1878-1954 The Early Years
  • 1878 1954 -1940s “ You Can Put Your Confidence In General Electric” -->Postwar sentiment Post-2001 The Jeff Immelt Years 1981-2001 The Jack Welch Years 1954-1980 The Growing Years 1878-1954 The Early Years
  • 1854 1980 -1950s
    • “ Progress Is Our Most Important Product”
      • General Electric Theater & Ronald Reagan
    Post-2001 The Jeff Immelt Years 1981-2001 The Jack Welch Years 1954-1980 The Growing Years 1878-1954 The Early Years
  • 1854 1980 -1972
    • “ Progress For People”
      • Innovation
      • Product benefits
    Post-2001 The Jeff Immelt Years 1981-2001 The Jack Welch Years 1954-1980 The Growing Years 1878-1954 The Early Years
  • 1981 2001
    • American manufacturer
    • --> Global service giant
    • Market value
    • $12 billion (1981)
    • --> 280 billion (2001)
    • Business that were being commoditized
    • --> high-value technology products, services
    Post-2001 The Jeff Immelt Years 1981-2001 The Jack Welch Years 1954-1980 The Growing Years 1878-1954 The Early Years
  • 1981 2001 -1979
    • “ We Bring Good Things To Life”
      • The benefits that GE’s products brought to people
      • Focused primarily on light bulbs and appliances
      • Helped deflect several PR disasters
    Post-2001 The Jeff Immelt Years 1981-2001 The Jack Welch Years 1954-1980 The Growing Years 1878-1954 The Early Years
  • 1981 2001
    • Welch’s media and marketing strategy
      • Build a strong corporate brand
      • Use marketing techniques from consumer products to market B2B products
      • Focused and simple
      • Targeted a small group of business and political influentials
    Post-2001 The Jeff Immelt Years 1981-2001 The Jack Welch Years 1954-1980 The Growing Years 1878-1954 The Early Years
  • 1981 2001
    • Primary focus:
    • Be No.1 or 2 in each of its business divisions
      • Existing business, acquisitions
      • Didn’t invest much in technology,
      • innovation, or new business
    Post-2001 The Jeff Immelt Years 1981-2001 The Jack Welch Years 1954-1980 The Growing Years 1878-1954 The Early Years
  • 1981 2001 -1991 “ The number one company in America” --By Forbes Magazine Post-2001 The Jeff Immelt Years 1981-2001 The Jack Welch Years 1954-1980 The Growing Years 1878-1954 The Early Years
  • 1981 2001 -1997
    • No.1 Businesses (global market share)
      • Industrial motors
      • Medical systems
      • Plastics
      • Transport
      • Power generation
      • Aircraft engines
    Post-2001 The Jeff Immelt Years 1981-2001 The Jack Welch Years 1954-1980 The Growing Years 1878-1954 The Early Years
    • In 2001, Jeff Immelt succeeds Welch as ninth chairman and Chief Executive Officer of General Electric
    • Darmouth College and Harvard Business School alum
    • Began career at General Electric in 1981
    • Held senior positions in GE Appliances, GE Plastics, and President and CEO of GE Medical Systems
    • Immelt focuses more on technology and innovation
    • Immelt reissues some positions eliminated by Welch
    • He reduces the number of acquisitions made during Welch's tenure
    Post-2001 The Jeff Immelt Years 1981-2001 The Jack Welch Years 1954-1980 The Growing Years 1878-1954 The Early Years
    • A NEW CAMPAIGN
    • Advertising needed to distinguish leaders- high tech and innovation
    • Change in slogan from "We Bring Good Things to Life" to "Imagination at Work"
    • New campaign had three audiences: GE employees, Wall Street and consumers
    Post-2001 The Jeff Immelt Years 1981-2001 The Jack Welch Years 1954-1980 The Growing Years 1878-1954 The Early Years
    • Television for most innovative departments:
    • GE Transportation
    • GE Plastics
    • GE Medical Systems
    • Reason Behind New Positioning:
    • Create awareness to consumers and investors that GE not only specialized in lighting and appliances
    Post-2001 The Jeff Immelt Years 1981-2001 The Jack Welch Years 1954-1980 The Growing Years 1878-1954 The Early Years
    • Change in the Ads
    • Immelt changed the traditional black& white logo to a quick flash of GE products
    • The founder, Thomas Edison, head popping out of a box with different visions
    • Logo
    Post-2001 The Jeff Immelt Years 1981-2001 The Jack Welch Years 1954-1980 The Growing Years 1878-1954 The Early Years
    • Internal Reactions to new campaign
    • Mixed reactions toward the new campaign
    • Companies previously used similar slogans "_____________ At Work"
    • Brand Equity would be lost
    • Not being able to vitalize new theme
    Ideas Innovation Ingenuity Post-2001 The Jeff Immelt Years 1981-2001 The Jack Welch Years 1954-1980 The Growing Years 1878-1954 The Early Years
    • External Reactions
    • Research showed that consumers liked the new campaign
    • Consumers displayed a strong interest in major concerns and current global and economic trends
    • Ecomagination
    • New campaign that focused on the developing of cleaner products and technologies like solar energy, water purification technologies for the environment
    • Ecomagination Ad
    Post-2001 The Jeff Immelt Years 1981-2001 The Jack Welch Years 1954-1980 The Growing Years 1878-1954 The Early Years
    • More Reorganization
    • Immelt downsize departments from eleven to six
      • GE Infrastructure
      • GE Commercial Financial Services
      • GE Consumer Financial Services
      • GE Industrial
      • GE Healthcare
      • NBC Universal
    • Would help to save costs
    • Assist industries to mature
    • Achieve loftier expansion goals
    • Revenue in developing markets
    Post-2001 The Jeff Immelt Years 1981-2001 The Jack Welch Years 1954-1980 The Growing Years 1878-1954 The Early Years
    • Healthcare Re-Imagined
    • Launched during 2006 Winter Olympics and ran for ten weeks
    • Focused on products that detected, cured, and prevented diseases
    • Took more serious tone that previous "Imagination at Work" campaigns
    • GE launched a similar campaign overseas
    Post-2001 The Jeff Immelt Years 1981-2001 The Jack Welch Years 1954-1980 The Growing Years 1878-1954 The Early Years
    • A $157 billion dollar company with over 310,000 employees
    • Most widely held stock in the world
    • Fourth as most valuable brand in the world in BusinessWeek
    • Stock remains $30 per share
    Post-2001 The Jeff Immelt Years 1981-2001 The Jack Welch Years 1954-1980 The Growing Years 1878-1954 The Early Years
  • Discussion Questions
    • 1. Did Jeff Immelt and Beth Comstock do the right thing by dropping “We Bring Good Thins to Life” for “Imagination at Work”?
    • 2. Has “Imagination at Work,” “Ecomagination,” and “Healthcare Re-Imagined”changed GE?
    • 3. Can Immelt transform GE’s approach of innovation (risky, unknown areas like fuel cells, solar energy, etc.) versus past strategies of improvement of current technologies?
    • 4. What should GE do next for its brand strategy?
    • Questions & Comments?
    • Thank you!