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UNLEASHING THE

POWER OF
MARKETING
HOW GE DID IT?

GROUP 1
MEGHA | HIMANSHU | VISHWAJEET | ISHA | KISHAN
2

2010

2009 Marketing
is now an
Article Four roles
engine for
for
Summary successful
growth
2003 Created a through
marketers
new direct
instigator,
marketing collaboratio
framework innovator,
Marketing n with
along three integrator
leaders customers,
and
applied dimensions: new
implement
GEs principles, product
2000 er
Marketing process people and opportunitie
departme orientation process s, and new
nt as a and markets
support standards
function and
doubled
the size
of their
Growth by
3 Focus on launching
technological increasingly
innovation, sophisticated
products could technologies or
market taking existing
No part technologies to
themselves
played by new market
marketing in
Marketers
At best, corporate
Old assigned to
marketing is a strategy
Perspective support
sales support
and or
function; at
Challenges communication
worst, an
s
overhead

Strategy to grow
Some of the the top line by
Rapidly
best-thought- acquisitions and
changing
out new bottom line by
industries
offerings were seeking out
proving to be
fast becoming efficiencies was
unpredictable
commodities not working
anymore
Marketing
4 Strategy fuelled
responsible for
by technology,
critical operating
innovation,
mechanisms such
global markets, as pricing and
and stronger quantifying value
customer ties
Line role for customers
instead of Marketing
New Staff role became
Perspective More
torchbearer
Marketing engine for
products at
to drive more commercial
more price
direct collaboration innovation
points
with customers
one with standards
as rigorous as
Marketing to
Giving those for other
be a vital
marketing a functions
operating
revenue function across
generating role GE to spur
in its own right organic growth
5

New Principles People Process


Marketing
Framework
Creating a Getting the Including very
common right leaders in specific
language and place measures for
standards grading
performance
6
Imagination Breakthrough: Portfolio of growth projects
created in 2004 and designed to engage marketing and
technology in ways that would create new value.
Example: Sodium battery/power hybrid
locomotives/stand alone business or GE Healthcare #
$2 billion revenue annually
Some other Ecomagination: GEs clean-technology initiative,
new launched in 2005. More than 90 new products and $70
inititaives billion in revenue in first 5 years
Marketing doubled its ranks, from 2500 in 2003 to
5000 in 2010.
CMO position was created for all GEs businesses and
at the corporate level.
Templates for marketing leadership roles and
responsibilities. External hires: To elevate capabilities.
Internally grown: To connect the dots culturally +
Training programs to master core principles.
Two CMOs per one GE Business with complementary
areas of expertise
7 Push change. Internal incubator fund that
enlisted and sponsored a small skunkworks to

Instigator scan the entire business landscape and come


up with marketing ideas that were either not
on the business leaders radar or considered
elusive. #HomeOfTheFuture#QuietCare

Expand thinking beyond product features and


functionality to include pricing, delivery,
Roles of
Successful Innovator customer engagement, complicated risk-
reward sharing, and new business models all
part of commercial innovation. #AirTaxi
Marketers #myEngines

Build bridges across multiple organizational


silos and functions to unite them on a single

Integrator path. Must act as a translator, making


outside customer insights relevant and
meaningful to those inside the organization.
#GECApital (weekly war room)

Build coalitions and persuade others, using


functional expertise, insights, and teamwork

Implementer rather than authority. Mobilize people and get


things done. Establishment of Center of
Excellence that would gather and disseminate
key competitor information
8

Undershot
Strategic
Consumers
Reflection

Overshot
Consumers

Non-
consumers
9

Customer driven Shar Top management


organization ed Sty support
Customers come first
Marketing expenditures
Valu le Open communications
Recognition & Rewards
are investments es
Developing a Service is paramount
Integrated plan for
market development Based on
oriented Formalized Str Stru markets/
definitions
ate geography
organization Detailed marketing ctur Key account
objectives gy e sales structure
Commitment to Decentralized
implementation
marketing staf
Customer intelligence Skil Recruitment
reports ls/ Training
Competitor intelligence Syst
Sta Knowledge of
reports ems markets
Marketing planning & ffin
Analytical skills
control systems g
Remuneration &
performance appraisal
systems
10
Not full range provider of investment
vehicles
No low cost advantage
Market New competitors ofering unbiased
comprehensive advice
Disruption Change program (segmentation,
building systems infrastructure,
redesigning core processes, cultural
FEW OTHER change)
EXAMPLES Increase in retention rate & doubling in
share of wallet

In 1992, $3.9 bn loss, declining market


share, bloated costs, worst customer
Erosion of satisfaction ratings, customer
siphoning
Market Closed 113 unprofitable stores,
terminated 100 year old Sears
Alignment catalogue, divested financial services
business
Transformation program women as
decision makers, introducing private
labels, structural and cultural change
11

Transformation from project


organization to operating company
Strategic Need for cost control and develop
ability to attract, serve & retain
Necessity customers
Organized around customers,
jettisoned the old functional structure,
FEW OTHER developed 85 cross functional teams
EXAMPLES

Company in debt, besieged by


asbestos litigation, silo mentality
Intolerable Information bottlenecks, gaps in
product line, problems with project
Opportunity completion
Recruited inexperienced team,
Costs improved customer service & problem
solving through systems thinking
Paid $110 million to install SAP & train
people, it saved $80 million annually
12

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