By John Malmo
http://stream.publicbroadcasting.net/production/mp3/wkno/local-wkno-984276.mp3
GE Builds Classic Marketing, by John Malmo.
Memphis, TN – I was shocked to learn that only ten years ago, a company as complex as GE had no real marketing organization. GE was so confident in its technological developments that it trusted them to sell themselves. Yet, in the past ten years, GE has developed marketing capability in each of its many business segments, from jet engines to health care to GE Capitol. Each marketing group is built around experts in their segments. If they couldn't find them within GE, they went outside and brought in experts from other operators in those categories.
Experts from the air taxi industry led GE successfully into jet engines for smaller aircraft. Healthcare experts developed the GE QuietCare home sensing system. In only a few years, GE went from a company that developed products just because they could, to a company that developed products based on needs in the market.
It exemplifies the classic definition of marketing: maximizing a company's assets by working from the outside in. Find a market need, and develop a product. Don't develop a product, and try to find somebody who needs it. Hire experts in markets you serve and could serve. Give them the time and resources to find an existing market need. Then develop the product or service that fills that need.
John Malmo is a marketing consultant who concentrates on helping business owners grow their businesses with effective marketing. To reach Mr. Malmo, hear and read more of his commentaries, or ask him a direct question, go to AskMalmo.com.
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