Marketing Of Ge

Brief Contents

Objective: Lambin (2000) states that '' marketing is a business philosophy and an action-oriented process which is valid for every organization in contact with its constituency of users.'' He make the distinction between marketing as a ''system of thought'' (or strategic marketing) and as an ''active process'' (or operational marketing).

(Lambin, J-J., (2000), Market-Driven Management: Strategic and operational Marketing, Macmillan).

With reference to academic literature and to an organization of your choice, critically evaluate Lambin's proposition that marketing is both a management orientation and a management function, applicable in all organizational contexts.

Si.No Contents Page No.

1.0 Marketing: An Introduction. 02-03

2.0 Lambin's Strategic Concept of Marketing. 03-04

3.0 Critical Analysis of GE (General Electric) Marketing Strategy. 04-16

3.1 Company Overview. 04-05

3.2 Marketing Philosophies of GE. 05-06

3.3 GE's marketing Strategy. 06-07

3.4 Analysis of GE's Market Driven Management. 07-09

3.5 GE's Competitor Analysis and Competitive Strategy. 10-12

3.6 SWOT Analysis of GE. 12-13

3.7 GE Brand Analysis. 13-15

3.8 GE's promotion and Selling Strategy. 15-16

4.0 Conclusion. 16-16

5.0 Appendices. 17-28

5.1 Appendix-1-The 4 Principles of Marketing. 17-18

5.2 Appendix-2-The Nature of Marketing. 18-19

5.3 Appendix-3-GE's Business Services. 19-21

5.4 Appendix-4-Ge's Business Values and Actions. 21-24

5.5 Appendix-5-Case Study of GE Plastics. 24-27

5.6 Appendix-6-What is Six-Sigma? 27-28

6.0 References.

1.0 Marketing: An Introduction

There are several definitions for marketing mentioned in marketing textbooks. A general thinking about marketing is only selling and promotion. Every day we see so many television commercials, newspapers ads, and sales calls, which shows that someone always try to sell something. A general definition of marketing: the act or process of buying and selling in a market.

During the past three decades, marketing concepts has been changed. The focus of marketing from the product to the customer, but objective was still profit, and the means of achieving the objective was selling or agree the potential customer to exchange their money for the company's product. So, the marketing is a social and managerial process by which groups and individuals obtain what they need and what they want through creating, offering and freely exchanging products and services of values with others. For managerial definition, marketing as ''the art of selling products.'' Peter Drucker has defined marketing as:

''There is always, one can assume, be need for selling. But the aim of marketing is to make selling superfluous. The aim of marketing is to know and understand the customer so well that the product or service fits him and sell itself. Ideally marketing should result in a customer who is ready to buy. All that should be needed then is to make the product or service available.'' (Kotler, P., 2000, pp. 7-8)

Peter Drucker also makes clear that: ''Marketing is so basic that it cannot

not be considered a separate function within the business.. it is, first, a central dimension of the entire business. It is the whole business...seen from the customer's point of view. Concern and responsibility for marketing must, therefore, permeate all areas of the enterprise.''

He also makes an emphasis on the basic function of the marketing is marketing and innovation. ''Marketing and Innovation are the two chief functions of business. You get paid for creating a customer, which is marketing. And you get paid for creating a new dimension of performance, which is innovation. Everything else is a cost center.''

His concept of marketing as a philosophy is valid, but that philosophy must be operationalized. The firm must undertake a set of activities or tasks to create a customer or defeat competitors. A definition given by Tim Cohn (Marketing Consultant and Author): the definition of marketing is to find out what your costumer want and then give it to them.''

Whereas, Marketing is defined by the Chartered Institute of Marketing is: ''the management function responsible for identifying, anticipating and satisfying customer needs profitably. It's all about delivering the right product, at the right price and in the right place and ensuring customers are kept happy with that they get.'' (Cohn, T., 1995, pp. 1-2)

Kotler et al (2005), defines marketing, ''as a social and managerial process by which individuals and groups obtain what they need and what they want through creating and exchanging products and value with others.'' (See Fig.01)

So marketing must not be understand in an old fashioned way of making a sale- telling and selling- but in a new way of satisfying customer needs.

(For more details see Appendix-1: The 4 Principles of Marketing and Appendix-2: The Nature of Marketing)

Fig.01: Core Marketing Concepts

2.0 Lambin's Strategic Concept of Marketing

By the 1990s, the concept of marketing has been totally outdated and that the times demanded a strategic concept of marketing that is a major evolution in the history of the marketing thought, focus of marketing is shifted from the