Marketing management Exercises III Essay Questions 1.Using the Ten Rules of Radical Marketing, give an example of how accomplish each rule in business 2. What is the difference between a market segment and a target market? 3. Describe each of the five types of needs a customer experiences when making a purchase IV Marketing Spotlight GE GE was established in 1892 when Edison General Electric merged with Thomson-Houston. The company produced lightbulbs, elevators, motors, and appliances. Early success came as a result of J. P. Morgan's financial backing and a focus on research and development. Over the next century GE evolved into one of the worlds biggest companies, with a diverse portfolio of products and businesses. It is among the largest U.S. companies in terms of revenues, and offers an incredible variety of products, from consumer electronics and industrial power to financial services and television broadcasting. Other operating segments include plastics, aircraft engines, and technical products and services for medicine and science. Under the leadership of Jack Welch, who became GES CEO in 1981, the company enjoyed two decades of unprecedented growth and prosperity Welch is widely praised as a visionary business leader due to his performance at GE. He structured the industrial giant by decentralizing the company's operations. He also sought to expand GE's business with highly profitable ventures, and worked to shed low-performing businesses, such as air-conditioning and housewares. This massive restructuring significant cost to GEs workforce: between 1981 and 1985, the company cut 100,000 Once the restructuring was completed, Welch pursued an aggressive acquisition strategy. Some of the major acquisitions included GEs purchases of NBC Television in 1986, and Kidder, Peabody investment bank in 1990(which it later sold to Paine Webber ) In the 1990s, Welch greatly expanded the historically small GE Capital Services with bank and insurance company acquisitions. GE Capital now operates a diverse range of 27 business, including real estate, insurance, finance, and heavy equipment leasing, and provides over 40 percent of the companys revenues. The pace increased between 1997 and 2000, during which time GE averaged more than 100 acquisitions per year. In 1999, GE acquired 134 companies worth $17 billion. In 2000, Welch tenure. the $45 billio manufacturing titan Honeywell International Today, GE has 49 strategic business units operating under the larger master brand. Despite its size, the company is able to react to the fast pace of the New Economy. In 2000, the company reorganized GE Information Systems into an e-commerce unit called GE Global Exchange Services and a support unit named GE Systems Services. These two units manage the worlds largest electronic trading community, comprised of more than 100,000 trading partners Additionally, at Welch's urging, GE employees saved billions of dollars for the company byMarketing Management Exercises 4 Ⅲ Essay Questions 1. Using the Ten Rules of Radical Marketing, give an example of how you would accomplish each rule in business. 2. What is the difference between a market segment and a target market? 3. Describe each of the five types of needs a customer experiences when making a purchase. Ⅳ Marketing Spotlight GE GE was established in 1892 when Edison General Electric merged with Thomson-Houston. The company produced lightbulbs, elevators, motors, and appliances. Early success came as a result of J.P. Morgan’s financial backing and a focus on research and development. Over the next century GE evolved into one of the world’s biggest companies, with a diverse portfolio of products and businesses. It is among the largest U.S. companies in terms of revenues, and offers an incredible variety of products, from consumer electronics and industrial power to financial services and television broadcasting. Other operating segments include plastics, aircraft engines, and technical products and services for medicine and science. Under the leadership of Jack Welch, who became GE’s CEO in 1981, the company enjoyed two decades of unprecedented growth and prosperity. Welch is widely praised as a visionary business leader due to his performance at GE. He restructured the industrial giant by decentralizing the company’s operations. He also sought to expand GE’s business with highly profitable ventures, and worked to shed low-performing businesses, such as air-conditioning and housewares. This massive restructuring came at a significant cost to GE’s workforce: between 1981 and 1985, the company cut 100,000 jobs. Once the restructuring was completed, Welch pursued an aggressive acquisition strategy. Some of the major acquisitions included GE’s purchases of NBC Television in 1986, and Kidder, Peabody investment bank in 1990 (which it later sold to Paine Webber). In the 1990s, Welch greatly expanded the historically small GE Capital Services with bank and insurance company acquisitions. GE Capital now operates a diverse range of 27 business, including real estate, insurance, finance, and heavy equipment leasing, and provides over 40 percent of the company’s revenues. The pace increased between 1997 and 2000, during which time GE averaged more than 100 acquisitions per year. In 1999, GE acquired 134 companies worth $17 billion. In 2000, Welch oversaw the company’s biggest acquisition during his tenure, the $45 billion purchase of manufacturing titan Honeywell International. Today, GE has 49 strategic business units operating under the larger master brand. Despite its size, the company is able to react to the fast pace of the New Economy. In 2000, the company reorganized GE Information Systems into an e-commerce unit called GE Global Exchange Services and a support unit named GE Systems Services. These two units manage the world’s largest electronic trading community, comprised of more than 100,000 trading partners. Additionally, at Welch’s urging, GE employees saved billions of dollars for the company by