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Marketing Plan For General Electric Essay

3200 words - 13 pages

Executive SummaryAccording to the National Fire Protection Association (NFPA, 2008), "cooking fires are the #1 cause of home fires and home fire injuries" resulting in hundreds of deaths and hundreds of millions of dollars of damage each year. With such troubling reports kitchen safety has become increasingly important to consumers. In order to demonstrate commitment to consumer safety General Electric is pleased to introduce its latest innovation in cooking products development - the GE Cook Alert.GE is committed into achieving leadership by developing global technical capabilities, increasing new product growth, and investing in global research. With today's competitive environment GE's ...view middle of the document...

This can result in accidental burns or fires. To reduce the likelihood of such accidents, the GE Cook Alert would project a consistent and timed warning beep with accompanying flashing warning light to notify the user that the range is still in operation. The GE Cook Alert will help prevent burns to customers, children, and home property, while eliminating wasted energy.SWOT AnalysisStrengthsThe strength of GE Cook Alert product is that no one has developed it yet.GE will be the first to develop and implement this product for the new product line of gas and electrical ranges available to the consumer within 12 months.Consumer trust in the GE brand name image is high.WeaknessesThe product is untested at this point.The cost to implement and introduce the GE Cook Alert may outweigh the benefit.Figures have not yet been calculated to determine final cost and future projection ratios.OpportunitiesThe GE Cook Alert will provide GE with excellent public relations and media exposure for its investment in consumer safety and energy efficiency.If successful, such safety adaptations could be developed for a wide variety of GE appliances and products.There is also the opportunity for retro fitting appliances that do not have this sensor.ThreatsThe GE Cook Alert could be quickly copied by GE competitors in the household appliance market such as Samsung and Phillips.TrendsThe most important trend in appliances in recent years is the introduction of high-energy efficiency appliances.New developments in technology has lead to the creation and marketing of appliances that provide consumers substantial savings on gas and electrical energy.In addition to safety, the GE Cook Alert product would help reduce wasting valuable energy and thus increase consumer savings.Research ApproachesMarketing has decided upon two methods of research for the GE Cook Alert. The first method will be a series of focus groups, including participants from urban and suburban areas. The focus groups will be held in Philadelphia, Los Angeles, and Chicago. Education levels, economic levels, and marital status will further classify the participants in an effort to get more accurate statistics and facts of how the population will respond to the Cook Alert.The second method will consist of survey research. This will be conducted in two ways. First, a massive mailing distribution will allow the marketing department to reach a large amount of people. These surveys will be used to reach as many people as possible. In spite of the low response rate this method typically provides marketing believes that it will yield beneficial data. The second survey will be conducted via the Internet by placing a banner and GE promotional "free giveaway sweepstakes" entry form on the Google homepage. This relatively new survey method is growing in popularity and allows GE marketing to reach a larger section of the consumer population.Target MarketThe GE Cook Alert is a specialty item that would be incorporated...

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