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The GE matrix helps a strategic business unit evaluate its overall strength. Each product, brand, service, or potential product is mapped in this industry attractiveness/business strength space. The GE multi-factor model or "nine-box matrix" was first developed by McKinsey for General Electric in the early 1970s. [1]
Determine the key strengths – for example price, service, convenience, inventory, etc. Rank the key success factors by giving each one a weighting – The sum of all the weightings must add up to one. Rate each competitor on each of the key success factors. Multiply each cell in the matrix by the factor weighting. Two additional columns can ...
Although the market potential is rather fictitious, it offers good values of orientation. The relation of market volume to market potential provides information about the chances of market growth. [6] [7] The following are examples of information sources for determining market size: Government data; Trade association data; Financial data from ...
As with most marketing techniques, there are a number of alternative offerings vying with the growth–share matrix although this appears to be the most widely used. The next most widely reported technique is that developed by McKinsey and General Electric, which is a three-cell by three-cell matrix—using the dimensions of 'industry ...
Marketing strategy refers to efforts undertaken by an organization to increase its sales and achieve competitive advantage. [1] In other words, it is the method of advertising a company's products to the public through an established plan through the meticulous planning and organization of ideas, data, and information.
Some of the most important strategic metrics are market share, product quality, investment intensity, and service quality (all measured by PIMS and strongly correlated with financial performance). One of the emphasized principles is that the same factors work identically across different industries.
Marketing activities are costly and represent an investment in a company or brand's long term future. With the increased emphasis on accountability, marketers must consider how they measure marketing's performance and communicate that to stakeholders. Various types of metrics that are in widespread use may be classified as:
For example, ROMI could be used to determine the incremental value of marketing as it pertains to increased brand awareness, consideration or purchase intent. In this way both the longer-term value of marketing activities (incremental brand awareness, etc.) and the shorter-term revenue and profit can be determined.