Principles of Marketing

Only available on StudyMode
  • Download(s) : 154
  • Published : September 16, 2014
Open Document
Text Preview
Part 1 Marketing Plan
Table of Contents
1. Recent History
Brief Introduction about the organization
General Electric is an American conglomerate operating through the fields of energy, technology, infrastructure, capital finance, and industrial business.1 Thomas Edison is a widely praised genius, both as an innovator and businessman, and it was his vision that laid the foundation for General Electric.2 In 1876, he opened his first real workshop in Menlo Park, New Jersey where he would eventually create the electric light bulb.2 In 1890, Edison started the Edison General Electric Company to hold his many businesses under one roof and after merging with the Houston-Thomas Company, his prime competitor, General Electric was born.2 In the fields of technology and energy, General Electric will be releasing a product targeting solar energy and electric vehicles called The Catch. The Catch is a solar powered car cover that absorbs the sun’s rays to charge electric cars without the need for an outside electrical source. It protects cars from weather damage and keeps them cool from the sun’s heat as well. The Catch is a cover like the ones available to cover any standard vehicle, but will be covered with multiple small solar panels. The Catch will have a chord attached that plugs directly into cars instead of having them plugged into an electrical outlet.

1. “About Us,” General Electric, accessed October 3, 2013, http://www.ge.com/about-us/curing 2. “ Thomas Edison At G.E.,” General Electric, accessed October 3, 2012, http://www.ge.com/about-us/history/thomas-edison

Discuss what is unique about the company and its offerings
General Electric is known widely for their diversified and inventive products. Its products include gas and steam generators, solar energy devices, water treatment services, lighting, healthcare services, home and business solutions, loans and leases.3 G.E. is a world renown company with the numbers to prove it. In 2012, General Electric was placed at number 8 on Fortune 500’s top earners list in 2012 with $146.9 billion in revenue.4 With top competitors such as Valero Energy and Caterpillar Inc. trailing behind, General Electric continuously maintains a respectable reputation as an innovative company.4 As well as being a top ranked annual earner, G.E. was named in Bloomberg Businessweek’s list of world’s most innovative companies and Barron’s list of most respected companies.5 Because General Electric expands their horizons diving into a varied number of profitable industries and dominating the competition with their pioneering qualities and reputable business methods, it is hard for alternative companies to keep up. With the Earth’s diminishing sources of gas and fuel, G.E. came up with a product that would accommodate the ever-changing needs of modern day society. The Catch was designed with daily necessities in mind. The basic functions of the product are to convert solar energy into electricity to charge electric vehicles and also protect vehicles from weather damage. The cover is easy to use and convenient, as well as reliable. This product adds peace of mind to the consumer, and in the long run can save them money.

3. “ General Electric Company Profile,” Hoovers: A D&B Company, accessed October 3, 2013, http://www.hoovers.com/company-information/cs/company-profile.General_Elect tric_Company.8e594783fd3e6c6e.html

4. “ Top Earners, “ CNNMoney, accessed October 3, 2013, http://www.money.cnn.com/ magazines/fortune/fortune500/2013/full_list/index.html?iid=F500_sp_full 5. “ Fact Sheet,” General Electric, accessed October 3, 2013, http://www.ge.com/abou t-us/fact-sheet

1A. Situation Analysis
1. Competitor Analysis
Who are your major competitors and what are their marketing strategies? There are few major competitors for our product The Catch. Since the technology to produce the product in an afordable, marketable fashion has only recently been available, the competition is...
tracking img