Case Study 1: GE Healthcare (A): Innovating for Emerging Markets

Running head: GE HEALTHCARE 1

GE HEALTHCARE 5

GE Healthcare

Student’s name

University affiliation

GE Healthcare

One of the emerging trends in the external environment has led to the development of a new strategy by the General Electric (GE) Healthcare for its production activities as well as marketing of cheap Electroencephalography (EEG) machine. This undeveloped market comprises people who are in the middle class in India. Even though they are still considered as poor per the western standards, they can afford the products that are sold at a price that is lower as compared to that set in the Western countries. Comment by Tutor: Capitalization – Since this is not the first word of a sentence or a proper noun, reconsider whether capitalization is necessary Comment by Tutor: Capitalization – When we’re using “west” or “western” to refer to the specific region rather than a direction, it’s considered a proper noun and should be capitalized.

The other emerging trend in the external environment that has led to the development of a new strategy by the (GE) Healthcare is the large populations existing in the BOP markets. Most of the countries existing in the market have their governments responsible for the procurement of the medical equipment used in the hospitals. The GE Healthcare thus wanted to indulge in the large populations that are found in the BOP markets and those who are willing to implement the use of products that are affordable and those which can meet the desired performance (Herhausen, 2011). Comment by Tutor: Article Usage – Reconsider whether the article “the” is necessary here. Comment by Tutor: Punctuation – Since you’ve already identified what this is an abbreviation for, reconsider whether parentheses are necessary here Comment by Tutor: Noun Form (singular/plural) – Consider whether changing this to the singular form may fit slightly better with the current sentence. Comment by Tutor: Word Choice – Since we used this word in the previous sentence, consider whether we may be able to replace this with a different word or phrase for more variety. Comment by Tutor: Article Usage – Reconsider whether the article “the” is necessary here.

One of the internal barriers that GE Healthcare faced in the process of its development of its BOP market in India was not being able to tap into the vast market fully (Insead, 2015). This is because the sales that were made in India only comprised a small fraction of the total sales made by the company. Also, the needs of the people in the Indian market were not given much attention in this global organization which was highly centralized. The second internal barrier that GE Healthcare faced in the process of its development of its BOP market in India is the R&D initiatives carried out in India. This was an obstacle to the development process of GE healthcare because they had the tendency of gravitating towards fulfilling the needs of the customers who are said to be in the high-end segment which was familiar to the developed customers in the GE's market. This hindered the growth of the GE Healthcare in the market since it produced and sold products that were not meeting the needs of the customers. Comment by Tutor: Capitalization - If this is part of the specific business or organization’s name, make sure to capitalize. If it is not, make sure to change all other similar uses to lowercase. Comment by Tutor: Clarity – This sentence is currently somewhat unclear. Are you saying that GE focused on marketing towards high-end customers like they had with pre-existing customers? If so, consider trying to rephrase this to more clearly reflect this. You may also want to consider condensing it slightly to help with this. Comment by Tutor: Subject-Verb Agreement – Remember that we want to use a slightly different verb form depending on whether the subject doing the action is singular or plural. Since “customers” is plural, consider what different form of “were” we should use. Comment by Tutor: Article Usage – Reconsider whether the article “the” is necessary here Comment by Tutor: Content – You may want to consider briefly expanding on why this approach resulted in GE not creating products that fulfilled the needs to the customers.

One of the external barriers that the GE Healthcare faced in the process of trying to achieve its goals in marketing in the Indian market is the heart disease which causes death to a large number of people in the country. The deaths resulting from this disease makes the testing of the ECG be of significant impact in the early detection. The machines produced were only designed to meet the needs of the large and the modern hospitals since they were highly priced. One of the ways to address this barrier is ensuring that the company offers machines at an affordable price to make them meet the needs of the old hospitals in the market. The second external barrier is that only a few people in the country could afford to undergo the testing using these machines which were considered to be high end since they were very expensive. In addition to this, it was not possible for the people living in the rural areas as well as the small towns to access the hospitals (Insead, 2015). One of the approaches that can be employed to address this barrier is reducing the cost incurred in the conducting of the tests using the high-end machines and also ensuring access to the people in the rural areas and small towns through the market penetration in the interior. Comment by Tutor: Article Usage – Reconsider whether the article “the” is necessary here Comment by Tutor: Article Usage – Reconsider whether the article “the” is necessary here Comment by Tutor: Subject-Verb Agreement – Remember that we want to use a slightly different verb form depending on whether the subject doing the action is singular or plural. Since “deaths” is plural, consider what slightly different form of “makes” we should use. Comment by Tutor: Phrasing – Consider whether we may be able to replace this with one being verb (is, are, has, have, etc.) Comment by Tutor: Word Choice – Consider whether there is a different preposition (to, from, in, on, etc.) that my fit slightly better here. Comment by Tutor: Article Usage – Reconsider whether the article “the” is necessary here Comment by Tutor: You may want to clarify any other changes they may need to make to make this possible. Will they make changes to the machines that make them more affordable to purchase and use? Etc.

There are many steps that GE took with an aim of developing a long-term strategy to expand to the BOP markets. The organizations used the thought that for it to be able to expand to the markets of the developing world, it required to manage to produce useful products that will be highly competitive in the market, and thus through those products, the organization will be introduced into the BOP markets and begin making sales within them. The steps that this organization took to obtain the market access of the BOP organizations related directly to strategic thinking. This is because the organization, to begin with, formulated a single product to act as an experiment in providing the organization with information on how the market of the BOP operates. Despite the fact that the Indian market did not provide revenue that could be considered successful with the GE standards, it could be regarded as successful in the Indian Markets (Insead, 2015). Comment by Tutor: Phrasing – Consider whether we may want to replace this with the -ing form of “manage”

The GE's healthcare's strategy in improving its BOP market's position contributed significantly to both developed and developing markets. For the case of developing markets, to begin with, the organization managed to formulate means through which it could penetrate their market. Through the first product, ECG for the Indian market that it formulated, it obtained the basics of the BOP market on how to penetrate these markets. For the case of the developed markets, on the other hand, the organization managed to increase its market area and thus increased its market value and abilities to obtain more capital (Hutt, & Speh, 2013). Comment by Tutor: Article Usage – Reconsider whether the article “the” is necessary here Comment by Tutor: Noun Form (singular/plural/possessive) – Since this appears to be the name of the business/company, reconsider whether the possessive is necessary here. Comment by Tutor: Capitalization - If this is part of the specific business or organization’s name, make sure to capitalize. If it is not, make sure to change all other similar uses to lowercase. Comment by Tutor: Phrasing – This same phrase was used similarly a few sentences ago. Reconsider whether it is necessary to use it again here. Comment by Tutor: APA – When we have two authors for a source, we do not need to use a comma in between their names, just the ampersand ( & ).

References

Herhausen, D. (2011). Understanding proactive customer orientation: c onstruct development and managerial implications. Wiesbaden: Gabler Verlag. Comment by Tutor: APA – Remember to capitalize the first letter of subtitles

Hutt, M. & Speh, T. (2013). Business marketing management: B2B. Australia Mason, OH: South-Western, Cengage Learning.

Insead, (2015). GE H ealthcare; Innovating for Emerging M arkets: The business school of the world. Retrieved from http://bit.ly/2axbrZK Comment by Tutor: APA – Make sure to apply special APA capitalization rules for titles. We only want to capitalize the first letter of the title, the first letter of any subtitles, and the first letter of any proper nouns. Comment by Tutor: Punctuation – Double check whether this should be a semicolon or a colon Comment by Tutor: APA – Make sure to apply special APA capitalization rules for titles. We only want to capitalize the first letter of the title, the first letter of any subtitles, and the first letter of any proper nouns. Comment by Tutor: This does not appear to be part of the document title. Reconsider whether this is necessary to include.