Unleashing the Power of Marketing

Companies across the world are determined to compete for the survival of their brands. The magnitude of success of the marketing and advertising strategies of a new or existing product is majorly depended upon the organization itself. As a matter of stated facts when an organization advertises its products in the market they first have to identify the relevant answers of some questions like what is the product aiming at? What benefits will the user seek by this product? How the organization plans to position itself within the market and what differential advantages will the product offer over the competitors. Because the bottom line of all marketing and advertising campaigns, is to provide the suitable collection of benefits to the end users of the product. Successful companies are usually recognized as iconic brands. Success of a

1. Compared with other approaches to business, the marketing concept is distinct in that it

Analyzing GE’s corporate-level strategy from 2001 – present with Jeff Immelt as CEO, GE focuses on the growth and development platforms. Technology is the key driving force for GE’s future and growth. Advancements in industries such as energy, health and aviation fueled demand for cleaner and more efficient energy production. GE identified new markets with potential high-growth that offered attractive returns through strategic mergers and acquisitions. As CEO, Jeff Immelt established a process for identifying projects that offered attractive growth potential which were then nurtured and treated as special projects or initiatives that were not subject to strict budget constraints. Immelt introduced GE’s three strategic imperatives as: (1) sustaining its strong business model, (2) strengthening the business portfolio, and (3) driving its growth initiatives. www.ge.com

A few years ago I got involved in marketing an expensive brand of vacuum cleaners called Kirby. The product was well designed, of high quality and had many features that were lacking in other leading brands. The marketing strategy used were a combination of selling orientation and product orientation, where the business owners assumed that a sales force would be able to sell the product as long as the right approached was used.

These include People, processes, programs, and performance. While McCarthy’s original four P’s were a strong starting point, the modern marketing management four P’s suits today’s market much better. People are what make our businesses thrive, not the product they produce. The processes the business undergoes is often more important than the “place”. Promotion is very one-sided, which is why programs is more fitting for today’s market. A program is a consumer directed activity that breaks through the visual noise that a promotion would offer. Performance can be seen from either a financial or nonfinancial perspective. Performance can go far beyond the just the price of the product. As you can tell, the modern marketing management four p’s is a much more human and updated approach to the tried and true

These activities could be done differently, in that they could use traditional fast-food prep methods or even make the food behind walls in the kitchen. However, this would change the customer experience and somewhat diminish their brand. Customers wouldn't have the sense of comfort seeing the food being prepared openly, and maybe question their quality as being comparable to that of fast food (Taco Bell). They could also change their ordering process, where customers would order and pay in one step rather then move down a line. However, in this system customers would be less involved in the process, and may feel like they are waiting around for their food. I wouldn't recommend making any of these changes to Chipotle's main activities. Being able to see everything going on and the quick and efficient order fulfilling process is what makes Chipotle strategy the gold standard for fast food chains.

Several key points are presented in the article for how companies can be successful. The first, is that companies must be innovative and be willing “to change their core products or business models” (Bertolini et al., 2015, p. 90) to keep up with the change in the marketplace. This may require that they rebrand their product, or change their business

* GE wanted to build new businesses platforms based on technological leadership, commercial excellence and global expansion to gain market leadership.

Marketing is all about creating a really solid decision, which will lead to more money. In this paper I will give some history of my organization, and explain how each element of marketing affects the organization. In addition I will cover the industry in which the organization resides in.

General Electric is a well-known company in many regions of the world, but what people aren’t particularly aware of are the steps that General Electric has taken to get to where it is at today. When I think of General Electric the first thing that comes to mind is the role that the company plays in the production of household appliances, but General Electric is a much bigger contributor to people’s lives than is most people realize. People aren’t familiar with the internal business decisions that General Electric makes to ensure that the company continues to grow and run as smoothly as possible, allowing the company to continue to provide people with the services that they have grown to recognize as being a trademark of General Electric.

The marketing segmentation concept allows a company to focus on a specific group of customers that it is best prepared and suited to satisfy. Rather than trying to be all things to all people, selecting a target market enables a company to tailor its offerings to more specific customer needs and preferences (Schewe & Hiam, 1998, p. 200). When a company focuses its efforts and capital (both tangible and intangible) on a more narrowly defined set of needs, it is more likely that the customers will get the product they desire. Companies that use the marketing segmentation concept typically have a more intimate knowledge of the customers they target, and customers usually relate better with companies that understand their interests. As such a relationship is built.

Within this new business environment that GE was facing, customers needs, wants and expectations of what products can offer them is forever changing. Immelt saw and understood this from the amount of time spent with customers, and implemented this idea within GE through the IT

In today’s modern era, the world is moving faster than ever, every organization is running a race of gaining maximum market share, and so as the customers, for their organization’s long-term growth but only those companies who transform themselves according to the need and requirement of the customers are able to achieve success and profit they desire and that’s what exactly said by Theodore Levitt (Head of the Marketing area at the Harvard Business School) in his article “The Marketing Imagination”.

This report is based on level 1 and level 2 which are about the Marketing Game before had been written. In Level 3, it appears that it should be feasible to develop a product which we will call a digital vocal communicator(DVC) (Charlotte H. Mason .William D. Perreault, Jr.2009). As with a standard of VRD, it would interpret spoken language commands. A DVC is small enough to be worn as a watch or as a lapel pin(Charlotte H. Mason.William D. Perreault, Jr.2009). In this report we will mainly talk on the 4P of the marketing mix, which are customer mix,price mix,promotion mix and product mix. Beside these also explain the distribution mix, the current and future strategy & objectives. The reason we chose a marketing mix is

The MARKETING GAME has taught me and given myself an abstract experience on how a marketing manager would perform in a company selling a voice recognition device and able to use an virtual program that calculates and generates financial reports. Besides that, I got to learn how to analyze and selecting target markets and implementing the marketing mix, which were 4 segments, wholesale of $120, using indirect competitive advertising and indirect distribution which is full service dealers only.