GE:Chapter 6: Analyzing Business Markets :Kotler’s 14th edition of Marketing Management

Editor's Notes

1. Hi, in this presentation we are going to analyse the Business to Business Marketing that has been done by GE with reference to the 6th Chapter of the book Marketing Management by Philip Kotler
2. A brief Introduction to the history of GE. Thomas Alva Edision the inventor of the electiric bulb founded The Edison Electric Light Company in 1878.
3. This company changed its name to General Electric, became a pioneer in lightbulbs and electrical appliances.GE became a pioneer of Business to Business marketing in the 1950s and 1960s with tagline “Progress Is Our Most Important Product”
4. General Electric operates with a diversified range of industries that spread over 10 major divisions. It sells diverse array of products and services that range from home appliances to jet engines,security systes etc.
5. B2B marketing is about meeting the needs of other businesses, though ultimately the demand for the products made by these businesses is likely to be driven by consumers in their homes.
6. Business marketers face many of the same challenges as consumer marketers but contrast with them in some ways like
7. This example depicts the Business to Business flow of goods to produce shirts and gives the various attributes of Business markets and Consumer Markets
8. Successful B2B marketing requires that the marketers know the type of companies to target, identify and communicate with the influencers in the business centres and to maintain strong relationships with the customers
9. The Business market is charecterised by Complex Decision-Making , more rationality,l imited number of buyers this makes it is very important to know the needs of the customer and give value to them this makes B2B marketing very important.
10. GE’s success rests in ability to understand the business market and business buying process. With its reputation, product reliability and ability to launch programs like power by the hour it is able to form long lasting bonds with its customers.
11. After extensive consumer research, it launched a campaign called “Imagination at work” which highlited its focus on innovation and new teechnology
12. To highlight its efforts in developing environmental friendly products it launched “ECOMAGINATION”.
13. As a part of ECOMAGINATION GE is partnering with various other companies to apply new digital industrial solutions to the world’s most pressing energy and water challenges
14. The campaign Healthymagination enabled GE to communicate its advancement in medical technologies to the world.
15. The above campaigns helped GE to associate attributes like Trust, Reliability, Innovation, Eco friendly, High tech, Leading edge with its brand.