Marketing Plan: Phase I Paper

Essay by DANIMAL69University, Master'sA+, August 2006

download word file, 3 pages 4.0

No longer will the words "Honey, I think I left the stove on", be uttered.

Abstract

According to the National Fire Protection Association (NFPA, 2006), "cooking fires are the #1 cause of home fires and home fire injuries" resulting in hundreds of deaths and hundreds of millions of dollars of damage each year. With such troubling reports kitchen safety has become increasingly important to consumers. In order to demonstrate commitment to consumer safety General Electric (GE) is pleased to introduce its latest innovation in cooking products development - the GE Range Safety Sensor.

Product Description

The purpose of the GE Range Safety Sensor is to alert the user when the range burner remains on after removing cookware from the burner. Often, when a range burner is turned low ("simmer") the person operating the stove is unable to see the flame on a gas stove, or the coils are no longer "red" on an electric stove.

This can result in accidental burns or fires. To reduce the likelihood of such accidents, the GE Range Safety Sensor would project a consistent and timed warning "beep" with accompanying flashing warning light to notify the user that the range is still in operation. The GE Range Safety Sensor will help prevent burns to customers, children, and home property, while eliminating wasted energy.

Organization Overview

GE Consumer and Industrial has 11 technology, services, and financial businesses with more than 300,000 employees in 160 countries around the globe (GE.com, 2006). This $13 billion industry leader in major appliance, lighting, and integrated industrial equipment systems and services has set long term financial goals of 8% organic revenue growth, greater than 10% annual earning growth, operating cash flow growth exceeding earning growth, and a return on average total capital exceeding 20% (GE.com, 2006). In each of its businesses,