Marketing Strategy of General Electric: A Case Study

General Electric Company famously known as (GE) is one of the oldest power suppliers located in New York. It operates mainly in the following four sectors aviation, power, healthcare, and renewable energy. Today general electric has several subsidiaries like GE Additive, GE Aviation, GE Healthcare, GE Renewable Sources, GE Power, etc that work across the globe. Below we have covered some key important points about the marketing strategy of General Electric, its marketing mix, competitors analysis, etc.

Before we dive into the marketing strategies of GE, let us learn more about General Electric Company.

About General Electric

General Electric was founded by Thomas Edison’s company and Thomson-Houston Electric company along with J.P. Morgan its financier in 1882. It is said that GE introduced electricity and home electrical appliances to America. It has been working for more than 125 years and has created technologies that have helped improve the lives of many people.

A few of their notable innovations include the electrical grid in 1882, the first hydro-electrical power plant in 1920, the first gas turbine for producing electricity in 1939, a wind turbine in 2002, the industrial internet in 2018, etc. One of the most interesting facts is that almost 1/ 3 of the world’s electricity is generated by General Electric. They are working on creating strategies and goals that align with the UN’s sustainable development goals.

General Electric’s Competitors analysis

General Electric is a huge brand that has quite a few competitors in the market. Let us read about them too.

1. Siemens

Siemens is a German-based industrial manufacturing company that was founded in 1847. This famous European conglomerate has various branches abroad. 

They provide products and services in sectors such as power, automation, buildings, railways, and water treatment systems. The company has around 4 lakh employees globally and has built a strong brand image. 

This company has many joint ventures and tie-ups with companies abroad. They have strong advertising and marketing approach that increases their brand name. They also have good financial status and hence are a top competitor of GE.

2. 3M

3M is an American Minnesota, Mining and Manufacturing company that was founded in 1902 having its head office in Minnesota, USA. They are known for producing electrical materials, fire protection, laminates, etc.

3M has been providing quality products and carries out thorough research on its products and services. They are also diversified and carry on business across 120 countries. Along with quality products and a brand name, 3M also has sound financial positions.

3. Hitachi 

Hitachi is a well-known Japanese company that has its headquarters in Tokyo, Japan.

Hitachi provides services in various sectors like digital media, telecommunications, construction and machinery, social infrastructure, etc. Hitachi also has a strong brand presence and had been featured in Forbes as the most popular brand. 

The company is present in many parts of America, Asia, Europe, and the Middle East. It also maintains a strong financial position with over 9.2 trillion in revenue. Hitachi is also working on building a strong relationship with its customers and shareholders.