Marketing Strategy of General Electric: A Case Study

Now that we saw a few competitors of General Electric we know that it has to continually work hard and stay updated with the latest trends. It is very much crucial for GE to have a strong marketing strategy. Further in the blog, we will now have a detailed study of the marketing strategy of General Electric along with its marketing mix and marketing campaigns.

General Electric’s Marketing Mix

Marketing Mix is a set of techniques or actions a company uses to promote its brand or service in the market. The four important P’s in General Electric’s marketing mix include product, price, promotion, and place. Let us look at the four important P’s of General Electric Company below.

Products that General Electric offers

General Electric has a presence in various sectors, it provides products and services for aviation, power, healthcare, renewable energy, kitchen appliances, etc.

In the field of healthcare, it provides equipment that monitors patients, in technology it provides jet engines, locomotives, air crafts, etc. Provides Renewable energy generators like gas turbines, water purification, and wind turbines, and also has a part that carries on drilling of oil and gas from the sea.

Price of its Products

As we just saw that GE has various products and services, it cannot follow a single pricing policy. The price of its services and products differ based on the industry. It has always been providing premium quality products or services hence it follows a premium pricing policy. GE recently tried to provide consumer goods such as household or kitchen appliances at a budgeted price to increase its sales.

Places General Electric operates in

General Electric has been providing its services in more than 160 countries across the world. Having its headquarters in Boston, it has conducted research and development in around 18 countries. It entered Indian markets in the 20th century supplying power equipment and later tied up with other corporations to make gas turbines in the country.

Promotion Strategies Used by General Electric

General Electric is a huge multinational corporation having a strong brand presence globally. It has worked hard to promote its products through different and innovative marketing techniques. It has successfully launched ad campaigns and used digital mediums to market its brand. It has also used innovative email- marketing techniques to catch the attention of its customers.

Now that we have an idea about GE’s marketing mix, let’s move on to the Marketing strategy of General Electric.

General Electric’s Marketing Strategy

The marketing strategy of General Electric plays a vital role in its success, they have to plan every strategy well in advance and make sure to beat the competition in the market. General Electric has done well in this segment. Let us read about each marketing strategy of General Electric below.

1. Being Unique

General Electric has always been working towards trying new products and entering new sectors. For the past few years, they have actively diversified their business which helped them gain experience and customer trust in various sectors.

2. Strong Digital Presence

General Electric’s main goal was to actively create awareness and knowledge about science and technology through their social media channels. Therefore they began by launching their filter on Snapchat (travel geo filter)  and created a buzz around it. They also used different platforms like Facebook, Youtube, Twitter, and Instagram to engage with their audience. They also came up with many fun campaigns and asked people to be a part of them this is an important marketing strategy of General Electric.

3. Tie-ups and Acquisitions

General Electric used the strategy of partnering with local companies in different countries and providing its services. In India, GE tied up with Bharat Heavy Electrical Ltd (BHEL) to manufacture gas turbines, and today is working on many other projects like hydroelectricity, wind turbines,  providing engines and locomotives, etc.

Given below are a few marketing campaigns launched by the company. These have played a crucial role in the marketing strategy of General Electric. 

General Electric’s Digital Marketing Campaigns

Digital marketing is a booming sector, and in the past few years have helped many companies gain publicity and engage with their customers. General Electric has used digital marketing to launch some wonderful campaigns. Here are a few successful campaigns by them

1. Instagram walks

General Electric started a campaign in 2013 called  #instawalks where they called out many influencers and fans of GE to capture and share their experience on the facilities given by General Electric. The fans could click pictures on their walk-around and share them on Instagram.

2. GE’s Unimpossible mission

General Electric came up with some unexpected missions which caught many eyes, one of them was the Snowball’s Chance in hell Campaign where they designed equipment in which they placed a snowball and then dropped it into a vessel that contained burning fire, after taking out the equipment to check the weather the snowball had melted they found that it was just the same while putting it in. This was done to prove that GE can do anything even the impossible missions. This gained many views and likes on Youtube and social media.

‘A Snowball’s Chance in Hell’ Unimpossible Missions GE

3. What my mom does at GE

General Electric came up with another amazing advertisement that portrayed the childlike imagination about what its mother did at work. The advertisement began with children speaking about how they thought their mom built planes like birds that fly in the air, built trains that loved the trees, built underwater fans that are powered by the moon, etc, beautifully ending it with their tag line “Imagination at Work”.

Childlike Imagination What My Mom Does at GE

Hence, General Electric has created a strong presence online and continues to keep up with the latest trends in the market.

Conclusion

General Electric has been successful for so many decades in providing the best quality of products in sectors like aviation, power, electricity, railways, infrastructures, etc. Even after having strong competition in the market, they have survived by earning customers’ trust. General Electric has some of the best research and development teams that ensure maintaining the quality of the brand.

General Electric has also mastered its digital marketing strategies by coming up with unique campaigns and having a strong brand presence online and this was a successful marketing strategy of General Electric.

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