Marketing of General Electrics - Essay Example

?Marketing    Marketing is a wider sphere that encompasses all of the most crucial aspects like increasing the visibility of the products and therefore increasing the sales to a great extent. There is no hard and fast rule available when it comes to marketing and one needs to be aware that a thorough watch of the market and the events surrounding that is what is needed in order to gain maximum benefit out of it. In the business arena, a good marketing is definitely a must and without marketing even the finest of products and services will not be able to get the results and attention on the whole. A competitive advantage is something every business will look forward to and it is through marketing can a business attain the essential reach (Mercer, D 2001). Decisions making is an important aspect of marketing and is a determining factor of a business to a great extent. It is a process through which the consumer opts to go for a particular product or services which they have got used to with time. The concept of decision making is very crucial and is a winning point for any product in the competitive world. If a deeper look into decision making is taken it is a kind of psychological feeling or attachment that one gets towards a particular products or brand overall. It is a common thing in the marketing sphere for people to get attached to particular brands or products rather than other factors. If they are convinced of the fact that a particular brand will always provide quality product or service then consumers will go for it irrespective of all other available options. Brand perception is an aspect that rules the world of marketing (McLucas, A 2003). In this paper, let us see the strategies followed in decision making by reputed brands on their products. General Electrics is one of the most famous companies of all time that is famous all over the world. It is a corporate giant that has established it to be the best brand and it has capitalized well on the brand aspect. It is a company that is operating all over the world and has got a huge resource base as well. The company is known for its best services and initiatives which are set to turn around the entire line of sales in its favor. A more comprehensive study regarding the company, its initiatives and services that keeps things working the right way is discussed in the paper (Salaman, G 2001). If we take GE into consideration, it can be understood that the company gives more importance to that of human resources aspect. For the purpose of a stable business, it is important to have some good and reliable resource base with them. A good HR program is the backbone of the proper channel and organize of work, thus it is the absolute necessity to show importance in this are. GE seems to have understood about this fact and is known to provide with all the effort it can in order to keep the human resource aspect intact. There is several HR initiative programs carried out by the company in order to make it beneficial for the company as well as the employee. There are several ways through which the company aims at streamlining and molding its resource in order to get the best out of it on the whole (Gelder, S 2005). The best strategy that is used by GE is that it trains as well as cares on its HR sphere. It becomes very much important for one to keep the internal space in a steady way to get a positive wave from outside and GE exactly does that. The idea is to drive its brand as a group to get better result for the brand. GE aligns human resource with that of administrative function as it has its business spread across all over the world. The decision making prowess of the company is well known in the business field and it has always manage to take ultimate control of its resources. The human resource aspect is integrated into the management system of the company. The company’s top management makes it a yearly affair to formulate a set of HR rules for the year along with that of the goals and objectives. It shows a great deal of interest in decision making when it comes to that of the HR goals. There have been several instances where a business loses out the importance of human resource management and training and thereby is not able to reach the company goals and objectives on the whole (Finskud, L 2009). According to Rothschild, W 2007, there is a share wealth policy of GE that helped it to stay ahead of competition in the market. GE is known for the sharing the wealth policy whereby and it provides for better human resource programs. The best way to recognize an employee is to pay them well in several respects and GE is known for its competitive package from employees from all discipline. There are several other advanced programs that the company promises with which holds good to the resources and in turn to the company itself. GE employees will have a positive attitude about their work and makes sure to provide for the best output in return for their compensations. The company shows utmost importance in hiring the right kind of people, train them well, reward them well with the best of benefits and thus makes the employees work with a sense of satisfaction rates at a higher level. The company makes sure that there is no sort of major gap in the communications with the employees and ensures to provide employee satisfaction to a greater extent. When employees are satisfied by the company then they will start making decisions in favor of the company in a considerable way which is sure to provide with more business to the company. GE works in sync with this mechanism. Salary or compensation is one of the most important aspects for an employee. If the company is able to sustain its trained employees by providing them with the necessary compensation then they are sure to keep going with the company. Always it is important that for a company to grow proper attention needs to be given to the salary issues to all the employees. This way the employees will not get a feeling that they have been robbed out of all their hard work and that the executives and management is making real big money with them (Davis, M 2009) General Electrics provides greater importance to that of human resources and its training and considers it as the perfect route to brand perception. It is not possible to run a company with a very narrow thought. The thought process needs to be widened up in order to get the maximum results out of it and thus the companies needs to opt for taking the opinion of people more importantly that of the employees very seriously. For any company to flourish well in their business and get the maximum result possible, it become necessary to find out the best talent possible so that it will be a value addition to one and all. When compared to all other strategies, the brand perception created through best talent is the most important and renders a great result. GE understands this need of management and streamlines its resources the best way possible. There could be nothing that can stand between a well managed business strategies for a company to attain success at a much earlier stage possible. There are certain basic aspects that determine the satisfactory levels of a person with a particular service or product and let us see some of them that would help us to make a better understanding over the ways to follow. The brand perception is created through prior experience the customer has with regard to a brand, the depth of marketing and advertising that is carried on, validations or reviews that are given by that of authentic sources, the spread of the brand or product through the recommendation of family and friends and last but not least discussions with sales, customer service interactions and the specific department employees of the company. GE believes that if it is able to refine the employees in the company their interaction with the customers will be more professional and they will be able to spot out the customer requirements at the earliest time possible and sort it out. Brand perception is associated with two of the most crucial factors and that includes functional experience as well as emotional experience with a particular company. As far as functional experience is concerned, it is marked by the speed or reliability of the services, quality and comfort in the usage. Emotional experience on the other end provides for an extra edge in service and making the customers feel better about the whole deal. There is nothing that can be more effective than perfect customer service. For a company to do really well care needs to be taken on the marketing front and regular market analysis needs to be carried out in order to get the best of results in a short span of time (Pietersen, W 2010). There is a lot of competition available in the market and with each passing day new brands and products keeps coming into the market. It becomes important for the companies to understand this competitiveness and follow some of the best strategies possible in order to achieve maximum results overall. Brad research on a regular basis is very much crucial wherein the company will get to know as to how to proceed with the market condition and carry on with an apt decision making in this regard. GE came out with excellent decision making when it came to business and employed one of the best strategies possible that showed a great deal of positive results from all corners. GE is a company that is located in worldwide and there is a great amount of cultural differences that it comes with but still the company has managed to keep together all of its employees and thus did the best when it comes to decision making option. By all means strong employee base is very much crucial for a business and in the sales front the responsibility is even higher from all corners. The companies need to understand the impact and potential of the employees, especially at the sales level because these are all the facts that determine the working conditions. With the growing demand in competitions and with more and more number of companies jumping into the sales sphere it is important to get going with it to attain maximum results possible. Thus, in order to get the customers to select over a particular brand item or product it becomes necessary for one to get acquainted with the necessary skill set possible. The company should always be on the safer side and should act early in order to prevent itself from facing hiccups. A company should think more futuristic and at the same time should be able to make the best in the present scenario as well. GE is one company that followed excellent strategies and innovative methods in order to make their brand a hit. For this purpose it carried on with apt decision making with regard to human resource. It acted according to the fact that good and experienced human resources are the backbone for any company and in order to get the best out of it proper channeling is necessary. On the whole, there are a lot of complexities that are associated with that of running a business the best possible way and most importantly to develop a brand name. After a brand name is developed, it becomes important for one to involve in good decision making by implementing the best of strategies to sustain the brand name. Reference: Mercer, D 2001, Marketing, Blackwell Publishers Ltd, Massachusetts McLucas, A 2003, Decision Making: Risk Management, Systems Thinking and Situation Awareness, Argos Press, Australia Salaman, G 2001, Decision Making for Business, SAGE Publications Ltd, California Gelder, S 2005, Global Brand Strategy: Unlocking Brand Potential, British Library, UK Finskud, L 2009, Developing Winning Brand Strategies, Business Expert Press, Nre York Keller, K 2008, Strategic Brand Management, Pearson Education and Dorling Kindersley Publishing Davis, M 2009, The Fundamentals of Branding, AVA Publishing, UK Rothschild, W 2007, The Secret to GE's Success, McGraw-Hill Companies, US Pietersen, W 2010, Strategic Learning: How to Be Smarter Than Your Competition, John Wiley and Sons, New Jersey Gharajedaghi, J 2011, Systems Thinking: Managing Chaos and Complexity, Elsevier, Burlington Read More