SWOT Analysis:
GEICO is a leading organization in insurance industry. GEICO Managers use SWOT analysis technique to understand the company’s market and financial position. GEICO takes SWOT analysis results seriously in order to maintain its prominent position in the market. SWOT analysis is a highly interactive process and requires effective coordination among various departments within the organization such as – marketing, finance, operations, management information systems and strategic planning. The SWOT Analysis framework enables an organization to identify its internal strategic factors such as -strengths and weaknesses, & external strategic factors such as - opportunities and threats.
Strengths
GEICO has numerous strengths to enable its prominent position in the market. These strengths not only help it to protect the market share in existing markets but also help in penetrating new markets
1. Strong Dealer network: GEICO established cordial relationship with its dealers and distributers. GEICO invest a lot in training its dealer’s sales team who in turn promote company’s products, explaining the benefits to the customers.
2. GEICO automated all its activities to consistently maintain product quality and to scale up/down based on market demands.
3. Product Innovation: GEICO has a successful track record of developing and implementing new products.
4. GEICO continuously trains and develop its workforce though its trainings and learnings programs. Geico is investing
They are using TV, Social Media, Internet to get popular and known in people. They also launch many advertising campaign and introduces their different promotional offer to the customers.
| Enterprise has chosen a powerful tool for advertising, a referral source (word of mouth). By building personal connections with mechanics (who then advised their own customers to rent a car from Enterprise), the company was able to build a strong network in the industry. It earned a strong market position for the company. It has also created loyal customers, and partners. Furthermore, it resulted in lower costs and larger profits for Enterprise
GNC Holdings INC.’s vision is to have a grounded loyalty relationship with consumers that will impress and hence an exclusive purchase encounter that will conserve their ground in market against competitors. They reinforce great service towards every person that approaches the company as well as stride to use stakeholder’s capabilities and get up to the maximum
In order to decide the jobs/positions/people needed or no longer needed, GEICO determines the types of talent needed and their composition of the organization’s current workforce by first determining entry level positions needed based on projected call volumes. Coaching/supervisor staff is then determined based on the number of phone associates needed. GEICO has a specialized department within the organization known as the Competitive Advantage Leadership Group or CALG. This department will review processes, procedures and job codes to ensure that the organization is operating cost effectively and with high efficiency. This group operates based on the Lean Six Sigma
GE Healthcare is a unit of the wider General Electric Company. It has a global orientation, employing more than 46, 000 staff committed to serving healthcare professionals and patients in over 100 countries. It is headquartered in the United Kingdom (UK)-the first GE business segment outside the United States. It has a turnover of approximately $ 17 billion. The headquarters hosts GE healthcare corporate offices as well as finance, sales, global sourcing departments, X-Ray marketing, manufacturing, design and shipping. The finance and sales departments at the headquarters handle GE Healthcare’s high level decisions, but each modality often has its own similar
This innovative idea of Boost put them ahead from other competitors and their brand’s distinct campaign builds a relation with customers.
Geico Insurance has expanded its product base to include home insurance, commercial insurance, atv and motorcycle insurance, boat insurance, and umbrella policies to its customers still with the direct selling concept. As technology has evolved, so has Geico Insurance to make sure its products and services are meeting the needs of the consumers. In addition to offering a multitude of insurance products, Geico has expanded its services to its customers with new features such as online claim filing, applications for mobile phones, and online quotes. The variety of products and services reaches out to a large target group ensuring Geico Insurance has a product to meet most all consumers’ needs.
P&G has its own unique and suitable promotion strategy system. The first method in promoting their products is doing advertisement, involving TV, magazines, Subway and some other media advertisements. In over 20 years, P&G has made remarkable achievements and has became the largest consumer products company in China. Besides the advertisements, the company
This alliance helps GFS to deliver cost effective products for their customers. Also, this partnership helps make ordering speciality products more suitable and accurate. (Strategic Alliances. 2017, February 22).
a very large product depth since they offer such a wide range of insurance policies. GEICO’s brand facilitates customers to purchase. GEICO’s brand is easily recognized due to the large
Nowadays, having insurance is a ‘nice thing’ to carry in case of emergency. In the U.S, most people should have at least one type of insurance. As for auto insurance, the law requires drivers to carry insurance when driving. Because of this need, the constant demand for having insurance drives many firms competing in this saturated market. In this analysis, the focus attempts to show GEICO Insurance promotional strategy in communicating its products and services to the market and identifies the effective ways in growing the brand-awareness.
GE health care has a global reorganization. IT should be considered as one of the most important key factor for their success. GE health care take record of each and everyone their patients records with the help of the technology that was developed during the years. They use a number of IT function for themselves and their patient’s convenience. Here in the below are listed with some of the evidences to prove that GE is a true technology user.
SWOT analysis is a useful tool for understanding and decision-making for all sorts of situations in business and organization. SWOT analysis can be classified into internal and external factors affecting a company. The Strengths and Weaknesses of the SWOT analysis represent the internal factors that influence the viability of the company. While the Opportunities and Threats, on the other hand, are the external factors that may affect the company's performances. A SWOT analysis provides more understanding of the organization in relation to its internal and external environment so that manager can formulate better strategy in pursuit of its mission.
Although Gillette uses spokespeople like marketing tools to endorse its brand, the company stands on its own as men grooming giant, who main purpose is to help
Promotions in the marketing mix of Dove: Dove has strong brand awareness in the consumer market because of Dove’s branding and advertising. Marketing policies are the reason why Dove gets success. Campaigns and advertisement improve the brand image and build a positive impact on consumers’ minds (Bhasin, 2016). Dove’s advertisements are aired on various channels of television and radio. Dove has advertisements in newspaper, magazine, and billboards as well. Dove used an unusual promotional strategy for the products. Dove decided to use the ordinary women who look extraordinary after using Dove products in the advertisement rather than celebrity. Dove created a good customer base with the “Real Beauty” that the context about confidence in the advertisement (Bhasin, 2016).