GE's consumer demand ranges from good ol’ GE lightbulbs to
refrigerators, ranges, clothes washers and dryers, microwave ovens,
dishwashers, coffee makers, room air conditioners, and hundreds of other
products bearing the familiar script GE logo. An average consumer buying a
refrigerator might do a little online research and then pop out to the local
Best Buy to compare models before buying one. In contrast, buying a batch of
jet engines involves a tortuously long buying process, dozens or even hundreds
of decision makers from all levels of the buying organization, and layer upon
layer of subtle and not-so-subtle buying influences. In its business markets,
rather than selling to large numbers of small buyers, GE sells to a few very
large buyers. Whereas it might be disappointing when a refrigerator buyer
chooses a competing brand, losing a single sale to a large business customer
can mean the loss of hundreds of millions of dollars in business. In the buying
decision, locomotive performance plays an important role. In such big-ticket
purchases, buyers carefully scrutinize factors such as cost, fuel efficiency,
and reliability.
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