Harvard Case - General Electric Plastics: Organizing the Marketing Function
"General Electric Plastics: Organizing the Marketing Function" Harvard business case study is written by V. Kasturi Rangan, Steven C. Michael. It deals with the challenges in the field of Marketing. The case study is 22 page(s) long and it was first published on : Sep 19, 1990
At Fern Fort University, we recommend GE Plastics implement a comprehensive marketing reorganization strategy that focuses on customer-centricity, innovation, and global expansion. This strategy will involve restructuring the marketing function, developing a robust brand management system, and leveraging digital marketing to reach new target markets. This approach will enable GE Plastics to effectively communicate its value proposition, drive growth, and solidify its position as a leading player in the plastics industry.
2. Background
The case study focuses on General Electric Plastics (GE Plastics), a division of General Electric (GE) that faced challenges in organizing its marketing function. While GE Plastics had a strong reputation and a diverse product portfolio, its marketing efforts were fragmented and lacked a clear strategy. The company operated in a highly competitive market with numerous established players, and it needed to find ways to differentiate itself and reach new customers.
The main protagonists in the case are:
- John E. (Jack) Brennan: Vice President of Marketing for GE Plastics, tasked with restructuring the marketing function.
- GE Plastics Marketing Team: A group of experienced marketers struggling with a lack of direction and coordination.
- General Electric (GE): The parent company, with a strong brand reputation and a diverse portfolio of businesses.
3. Analysis of the Case Study
To analyze the situation at GE Plastics, we can utilize the following frameworks:
1. SWOT Analysis:
- Strengths: Strong brand reputation, diverse product portfolio, access to GE's resources, established manufacturing processes.
- Weaknesses: Fragmented marketing efforts, lack of a clear marketing strategy, limited focus on customer needs, insufficient investment in digital marketing.
- Opportunities: Growing demand for plastics in various industries, emerging markets, technological advancements in plastics manufacturing, potential for product innovation.
- Threats: Intense competition, volatile raw material prices, environmental concerns regarding plastics, potential for regulatory changes.
2. Porter's Five Forces:
- Threat of New Entrants: Moderate, as entry barriers in the plastics industry are relatively high due to capital investment and technological expertise.
- Bargaining Power of Buyers: High, as buyers have numerous options and can easily switch suppliers.
- Bargaining Power of Suppliers: Moderate, as raw material prices are volatile and can impact profitability.
- Threat of Substitute Products: High, as alternative materials like metals and composites are available.
- Rivalry among Existing Competitors: High, as the industry is fragmented with numerous established players.
3. Marketing Mix (4Ps):
- Product: GE Plastics offers a wide range of products, but lacks clear product positioning and differentiation.
- Price: Pricing strategies are not clearly defined and lack consistency across different segments.
- Place: Distribution channels are not optimized for reaching all target markets effectively.
- Promotion: Marketing communication efforts are fragmented and lack a cohesive message.
4. Recommendations
GE Plastics should implement the following recommendations to address its marketing challenges:
1. Restructure the Marketing Function:
- Create a centralized marketing organization: This will ensure consistent messaging, efficient resource allocation, and better coordination across different marketing activities.
- Establish clear roles and responsibilities: Define specific roles for marketing professionals to avoid duplication of effort and ensure accountability.
- Develop a comprehensive marketing strategy: This strategy should be aligned with GE Plastics' overall business goals and address the needs of key target markets.
2. Develop a Robust Brand Management System:
- Define a clear brand positioning: This will help differentiate GE Plastics from competitors and communicate its unique value proposition.
- Develop a strong brand identity: This includes creating a consistent brand image, logo, and messaging across all communication channels.
- Build a strong brand reputation: This requires focusing on quality, innovation, and customer satisfaction.
3. Leverage Digital Marketing:
- Invest in digital marketing channels: This includes search engine optimization (SEO), search engine marketing (SEM), social media marketing, and content marketing.
- Develop a digital marketing strategy: This strategy should focus on reaching target audiences online and driving engagement.
- Utilize data analytics: Track digital marketing performance and use data to optimize campaigns and improve ROI.
4. Implement a Customer-Centric Approach:
- Conduct thorough market research: Understand the needs and preferences of target customers.
- Develop personalized marketing messages: Tailor communication to specific customer segments.
- Provide excellent customer service: Build strong relationships with customers and foster loyalty.
5. Focus on Innovation and Product Development:
- Invest in research and development: Develop new products and technologies to stay ahead of the competition.
- Partner with industry leaders: Collaborate with other companies to develop innovative solutions.
- Offer customized solutions: Tailor products and services to meet the specific needs of customers.
6. Expand into Emerging Markets:
- Conduct thorough market research: Identify growth opportunities in emerging markets.
- Develop localized marketing strategies: Adapt marketing campaigns to the cultural nuances of different regions.
- Build strong partnerships: Collaborate with local businesses to gain access to new markets.
5. Basis of Recommendations
These recommendations are based on a thorough analysis of GE Plastics' internal and external environments. They consider the following factors:
- Core competencies and consistency with mission: The recommendations align with GE Plastics' core competencies in manufacturing and innovation, and support the company's mission to provide high-quality products and solutions.
- External customers and internal clients: The recommendations prioritize understanding customer needs and building strong relationships with both external customers and internal clients.
- Competitors: The recommendations focus on differentiating GE Plastics from competitors and leveraging its strengths to gain a competitive advantage.
- Attractiveness ' quantitative measures if applicable: The recommendations are expected to drive growth, increase profitability, and improve market share.
Assumptions:
- The global plastics market will continue to grow in the coming years.
- Technological advancements in plastics manufacturing will continue to drive innovation.
- GE Plastics will be able to successfully implement the recommended changes.
6. Conclusion
By implementing these recommendations, GE Plastics can overcome its marketing challenges, strengthen its brand position, and drive growth in the competitive plastics industry. The company should prioritize customer-centricity, innovation, and digital marketing to effectively reach new target markets and achieve its strategic goals.
7. Discussion
Other alternatives not selected include:
- Maintaining the status quo: This would result in continued fragmentation and lack of direction in marketing efforts.
- Outsourcing marketing functions: This could lead to a loss of control over branding and messaging.
- Focusing solely on traditional marketing channels: This would limit reach and engagement with potential customers.
Risks and Key Assumptions:
- Implementation challenges: Implementing the recommended changes requires significant effort and may face internal resistance.
- Market volatility: The plastics industry is subject to fluctuations in raw material prices and economic conditions.
- Technological advancements: Rapid technological advancements may require GE Plastics to adapt its strategies and products.
8. Next Steps
- Develop a detailed implementation plan: Outline specific actions, timelines, and responsibilities for each recommendation.
- Secure necessary resources: Allocate budget and personnel to support the implementation of the strategy.
- Monitor progress and make adjustments: Regularly track performance metrics and make adjustments as needed.
- Communicate effectively: Keep stakeholders informed about progress and any changes to the strategy.
By taking these steps, GE Plastics can successfully transform its marketing function and achieve its growth objectives.
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Case Description
Describes the rapid growth of General Electric Plastics for over the last decade to a $5 billion (sales) company. The accompanying organizational transitions are described. The task is to design a marketing organization for the coming decade given the anticipated market changes.
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