A STUDY ON

INTRODUCTION TO GE GENERAL ELECTRIC ABBREVIATED AS G.E. GE, is an American multinational conglomerate corporation incorporated

in Schenectady, New York and headquartered in Fairfield, Connecticut in the United States.

The company operates through four divisions: Energy [currently (2013) inactive], Technology Infrastructure , Capital Finance and Consumer and Industrial.

In 2011, GE ranked among the Fortune 500 as the 26th-largest firm in the U.S. by gross revenue, as well as the 14th most profitable.

 The company is currently listed the 4th-largest in the world among the Forbes Global 2000, further metrics being taken into account. Other rankings for 2011/2012 include No. 7 company for leaders (Fortune), No. 5 best global brand (Interbrand), No. 63 green company (Newsweek), No. 15 most admired company (Fortune), and No. 19 most innovative company (Fast Company).

HISTORY

PRODUCTS General Electric’s capital finance segment includes commercial loans,

operating leases, home loans, credit cards, and personal loans. GE’s technology division produces Intrusion and fire detection

products, card access systems, aircraft replacement parts, jet engines, medical diagnostics, medical imaging as well as patient monitoring equipment.

The company also provides products related to energy infrastructure such as wind turbines, gas turbines, water purification systems, and aircraft engine derivatives.

General Electrics NBC Universal Division operates cable networks, and produces motion pictures.

Products produced in GE’s Consumer and Industrial Division includes refrigerators, washers, microwave ovens, residential air conditioners as well as electric and gas rangers.

PROMOTION

In 2001, General Electric selected Responsys, Inc., as the preferred vendor to implement GE Services Network's email marketing programs.

GE’s slogan “we bring good things to life’ is among the most recognizable in the world.

General Electric has used co-branding to market its products, including Culligan, Calphalon and Lenox.

MARKETING STRATEGY USED BY THE COMPANY

General Electric is currently a global giant in terms of products and services, revenues and profits, and ever increasingly, in brand name recognition. The marketing division has done a great deal to acknowledge and demonstrate the proven track record of GE products and services, and reinforce the strength and meaning behind the GE name.

General Electric’s current marketing plan is large and diverse and it takes into account the different business sectors, geographical regions, and demographically diverse cultures in which it operates.

The GE marketing plan is a complex business plan that is intended to provide consumers with products they want, and the company with maximum profits.

GE also stresses the importance of innovative products in order to stay relevant in the technology field. For these new innovative products, GE understands that its conglomerate business status needs to be wielded as an asset rather than a liability.

Though profits may not be quite up to GE standards, the diversification alone still qualifies this division for existing. The company also utilizes this division to tout its innovative ideas and strategies within the organization as  a whole

Pricing plays a vital role in the marketing mix. For each market, GE decides the price point that is surely profitable, but also attractive to the buyer.

For example, the company’s healthcare/technology divisions set prices that are seen as respectable and justified. A lowball price point on innovative healthcare patient monitoring systems doesnot sit right with the prospective buyers.

GE uses a variety of pricing strategies necessary for its varied and expansive product lines. GE must also account for the regional price discrepancies in its international markets. GE utilizes the strategies of product line pricing (healthcare devices); captive product pricing (washer/dryer sets); geographical pricing (international markets); and premium pricing (advanced technologies).

General Electric has business offices, manufacturing plants, and distributors in all parts of the world. The company currently operates in more than 160 countries. GE also has subsidiaries in Singapore, Mexico, Munich, China, and in Ontario, Canada. And GE has “global business projects” in Southeast Asia, Northern Asia, Australia/New Zealand, Africa, Latin America and Europe. GE’s vast business operations could be used to systematically define where and how a global organization operates.

CUSTOMER VALUE

INNOVATION

LEADERSHIP IN

TECHNOLOGY

COMMERCIAL EXCELLENCE

GLOBALIZATION

GROWTH LEADERS

EXECUTE FOR GROWTH

REVENUE GRAPH

REFERENCES

www.google.comhttp://barbradozier.wordpress.com/2010/02/18/a-report-on

-the-international-marketing-strategies-used-by-ge-company/

http://www.netmba.com/marketing/pricing/http://

www.prnewswire.com/news-releases/david-r-nissen-former-president-and-ceo-for-ge-money-joins-ipsas-board-of-advisors-61759527.html