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“Building Marketing Strategy
For Selling Transformers”
Submitted to: Mr.Sanjay Udgirkar
Submitted by: Navsikander Singh Brar Roll No: PG20071239 IILM Gurgaon
I Navsikander Singh Brar a student of IILM Institute of Higher Education Gurgaon, hereby declare that all the information, facts and figures furnished in this report are based on my own findings and experience gathered during my summer training at GE Power. This information has been used for purely academic purpose. I hereby declare the work was done by me and suitable information has been downloaded from websites and some gathered from the company. The project report is the result of my own hard work and self belief. Signature of Student Name: Navsikander Singh Brar Date : 28-7-08
An effort is not complete and successful till the people who make it possible are given due credit for making it possible. successful for me and for all. The entire journey from the very idea of this project to reality would not have been possible without the guidance of many experienced people. Firstly, I would like to thank my mentor Mr.Naushad Mullick and my college staff. I thank all of you for being supportive and at the same time tolerant at the times when I would be pressing you for information during your busy schedule. This project would not have completed without your support. I take this opportunity to thank all those who have made the endeavor of mine
I would like to give a special thanks to Mr.Sanjay Udgirkar, Mr.Ravi Sehgal my Guide, for the inputs that came in from you at all points critical, in the making of this project. I also extend deep sense of gratitude to my faculty members for the guidance and support.
• About GE • GE in India • Company hierarchy • GE infrastructure • Transformer • Market growth • Factor affecting sales of transformer • SWOT analysis of GE in India • PEST analysis • Major players in India • Competitor study • GE ‘s edge over its competitors • GE drawbacks • Market problem • Research design • Market strategy • Recommendations • References
CEO of GE Jeff Immelt
GE is imagination at work- - a diversified technology, media, and financial services company focused on solving some of the world’s toughest problems. With products and services ranging from aircraft engineering, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advance materials, GE serves customers in more than 100 countries and employs more than 3,00,000 people worldwide. GE is focused on growth and is committed to achieving worldwide leadership in each of its business. The company is organized into six market focused group. GE infrastructure, GE commercial financial services, GE industrial, NBC
universal, GE health care and GE consumer finance. This structure is aimed at expanding the company’s growth capability and positioning the company for sustained growth.
GE is committed to serving the communities where we do business, providing our customers with innovative, high-quality products and services and protecting the health of our workers and our environment.
Our reputation for honest and reliable business conduct, built by so many people over so many decades, is tested and proved in each business transaction we make.
GE leaders and employees support the communities that we call home.
Environment, Health & Safety
We are committed to keeping our workers safe on the job and ensuring compliance with environmental regulations.
GE employees embrace Six Sigma's customer-focused, data-driven philosophy and apply it to everything we do.
We pride ourselves on our rich history of "industry firsts." Synergy within our broad base of GE businesses helps us define the cutting edge of innovation
GE in India
Tejpreet singh CEO of GE India
GE has been in India since 1902, when it installed India’s first hydro power plant. Today, all of GE’s global businesses have a presence in India and the company has become a significant participant in a wide range of key services, Technology and manufacturing industries. Employment across India exceeds 12000. Over $1 billion of exports from India support GE’s global business operations around the world. GE has experienced success in sourcing products, services and intellectual talent from India for its global businesses. GE pioneered the concept of software sourcing from India and is one of the largest customers for the IT services industries in India. India is one of the world’s most exciting growth markets and many of the country’s needs today are synergistic with the solutions offered by GE businesses. With a diverse portfolio of products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer
financing, electrical and power protection and advanced materials. GE in India offers a compelling “One GE” proposition that will help accelerate many of India’s priorities. As India moves towards its goal of becoming a global leader, GE is committed to being a growth partner to India. At GE, we strive to be both a good and a great company. Every day, the company strives to be a responsible corporate citizen, to perform with integrity and to serve our employees, customers and other stake holders responsibly. Strong corporate citizenship is about constant improvement and we constantly work to improve the lives of the communities in which we live and work.
GE Energy India
New Units (PG) Sales Director & Team (RGM)
Energy Services (ES) Regional General Manager
Power Services T&D
Sales Director & Team T&D OC ENVS
Sales Director Sales Director & Team
Sales Director & Team & Team
Transmission & Distribution Optimization & Control Environmental Services
GE infrastructure is a high-technology platform comprising some of the fastest-growing businesses within GE. From transportation to meeting energy needs to water purification, GE infrastructure spans the globe offering world-class solutions to some of today’s most pressing issues. GE infrastructure is working in India towards building a strong foundation with the future in mind. The diverse requirements of customers are met by offering sophisticated solutions tailor-made to their individual needs. The pillars of GE’s infrastructure are:
GE- Aviation, Commercial engines GE and CFM international engines are the ideal solutions for India’s growing commercial aviation requirements. Whether the need is power for regional jets to connect secondary cities, or narrow- body aircraft for longer domestic routes, or wide-body aircrafts for international routes, GE’s engines provide an ideal value proposition to airline customers.
GE Commercial Aviation Services
GE commercial aviation services (GECAS) is the commercial aircraft financing and leasing business of GE. With three decades of longstanding with more than 200 airlines in some 60 country, GECAS has
a fleet of some 1300 owned aircraft and managers nearly 300 for other airline. Most of GECAS –owned fleet is made up of modern airbus and Boeing narrow body, with wide body aircraft, regional jets and freighters as well. GECAS provides a variety of aircraft financing to airfreight operators around the world and has freighter conversion program in place to convert 737,727 and 767 passenger aircraft into freighters
GE –aviation, military systems operation
Military systems operation is vital component of the Indian aerospace community. The F404-GE-IN20 engine for India’s Light Combat Aircraft (LCA) demonstrator is the latest derivative of the F404 family. The –IN20 version incorporates proven single- engine feature foe outstanding safety and reliability along with improved operational and handing characteristics. GE also has a manufacturing license and technical assistance agreement with Hindustan Aeronautics Limited (HAL) for the manufacture of LM2500 Gas turbines in India-six of which have been procured for the project 17 program
GE transportation is a global technology leader and supplier to the railway industry .GE offers cutting edge solutions related to dieselelectric locomotives and its modernization and its signallingportfolio include on-board and wayside signalling product and train inspection system meeting international railway norms
GE energy business supplies a full spectrum of power plant solution, ranging from fossil fuel technology to renewable energy, to suit customer specific requirements. Offering includes equipment-only packages, engineered packages or total turnkey projects. GE technology gas and steam turbine, hydro turbine, wind turbine and nuclear units account for more than 10% of India’s power generation installed capacity. With more than 200 customers in the Indian subcontinent, GE’s energy business also offers an array of transmission and distribution product and services, as well as condition monitoring products and services, optimization services, energy rentals, aero derivative technology, wind energy, gas fuelled
reciprocating engines, hydro power, solar technologies and nuclear energy
JENBACHER GAS ENGINES
GE Water and process Technologies
GE water and process technologies is a leader in the engineered chemical treatment and process system offering, new generation specialty, chemicals, consumables for RO equipment & pre – treatment for plant utilities such as boilers, cooling towers, waste plants. The new generation product offering includes chexfor heat exchange, ACE product foe boiler applications for high acid crude treatment, APES-new generation polymers and dispersant for cooling water applications and mobile water for emergency water requirement
GE has united the technological innovation and experience of industry leaders in the industry leaders in the design and manufacture of advanced measured and sensor – based solution into one world – class business. Druck General Eastern, kaye, nova sensor, parametric. Thermometric and Ruska are now under one name GE sensing. This new company, with operation in india and throughout the world, offers a broad range of product and services that help customer solve challenges and drive productivity.
GE money is one of the leading providers of financial services to consumer & retailers in India, offering a range of innovative financial products to suit its customer needs .It has a strong retail distribution network in over 5500 outlets across 60 locations and is a leader in a wide range of product. Strong operation is backed by the latest information technology support by product line. Its CRM program is among the most successful customer retention program in Indian and a single database housing nearly 2.5 million customer account, latest technology and centralized operations ensure the best services standards in the industry. With strong joint venture partner in maruti and state bank of India with 1.9 million cardholders, GE money continues to add value to its customers and partners in India
GE entered a joint venture partnership with Xignux and their transformer subsidiary Prolec in 1995, focused on delivering quality power equipment products. Today, GE-Prolec offers a full range of transformer products for the utility, residential, commercial, industrial, and energy markets. Complying with all applicable standards, these products provide flexible, reliable, and robust designs to support the customer's various substation and power plant applications. A complete line of accessories and state-of-the-art monitoring and diagnostics can complement your transformer solution to ensure performance optimization during the life of the equipment.
To utilities and industrials, GE-Prolec power transformers are the product of choice because they deliver the reliability and performance required due to their design, manufacturing and support characteristics. These characteristics aid our customers in offering the best level of energy supply.
• Step down, Generator Step-up, Autotransformers, Shunt Reactors, Auxiliaries for both Single and Three Phase application • 5 - 650 MVA maximum rating • Up to 1550 KV BIL • High Voltage up to 550 KV • Low Voltage up to 230 KV
• 50 or 60 Hz • On Load and Off-load tap changers
GE-Prolec offers a complete line of liquid-filled distribution transformers that meet or exceed applicable ANSI/IEEE standards. With high voltage up to 34.5kV and capacity up to 12 MVA, GEProlec transformers are used in a wide range of residential, commercial and industrial applications. High-grade materials, combined with sophisticated engineering design systems are key elements of a transformer that will deliver years of high-reliability service.
Utility network systems provide continuity of service that is unmatched in the industry. Transformers are operated in parallel within grids to serve multiple customers; individual transformer failures do not interrupt service to any customers on the grid. GE's network transformers provide superior corrosion protection using Reeves zinc-rich epoxy costing. Computer aided design tools help yield the most KVA per cubic foot of vault space available in the industry today. Achieving high reliability for critical loads and high-density load areas are challenges that our network transformers can help you overcome. Optimal voltage control can be achieved with our
microprocessor controlled voltage regulators and our power factor correction equipment delivers the power quality that your customers demand.
Voltage regulators are used by IOU, REC, municipal, and industrial customers to automatically maintain, or regulate, system voltage levels within a pre-set band width. GE's voltage regulators are recognized for designs that have long life with low maintenance expenses.
We are concerned with the Power transformers of 400KV only.
India’s Power and Distribution Transformers Market to Grow Exponentially by 2012
Realizing the importance of private participation in the power sector, India is strengthening its policies to encourage private investments. The country’s Electricity Act of 2003 caused the compulsory unbundling of the state electricity boards to improve their operational efficiencies, thus creating new market demand for better transmission equipment. As a result the Indian power and distribution transformers market is growing rapidly, according to a recent study by Frost &
Sullivan, a global growth consulting company. The Frost & Sullivan studies found that revenues in this industry totalled US$1.04 billion in 2005, and are likely to reach $5.31 billion in 2012. "Government's emphasis on the transmission and distribution sector reforms and investments are showing signs of fruition, thus creating a phenomenal growth opportunity for the Indian transformer market," explained Frost & Sullivan Research Analyst S. Bharath Srinivasan. "Due to rapid economic development and government's target of ‘power for all by 2012,' the Indian power sector will need to replicate what has been achieved during the last 50 years in the next 10 years." The growing presence of global participants in the power and distribution transformers market is a cause for concern for local Indian manufacturers, according to Frost & Sullivan. International Manufacturers have expertise in segments such as extra-high-voltage power transformers and standardized substation technologies. Moreover, the Frost & Sullivan analysis found that minor investments in transformer research and development in India pose a challenge to domestic participants, who eventually pair up with multinational giants for high-end technologies. The global price hike in transformer raw materials such as copper, aluminium and oil caused transformer prices to increase in India, the report found. Also, a shortage of coldrolled grain oriented steel is further escalating the price of this essential transformer core material. With growing demand and price both rising, Indian manufacturers are finding it difficult to maintain
margins in the long term, thereby transferring the burden of increased costs to the end users, according to Frost & Sullivan. The regulatory structure of the power sector has faced some uncertainties in India due to the reluctance and failure of certain states to put the regulations into practice, the study found. Furthermore, utilities are confronting financial problems because of high T&D losses, thus increasing their debt. Despite these setbacks, the power sector in India is likely to remain buoyant, according to Frost & Sullivan. Reforms in the sector and the enlargement of the power distribution network under India’s Accelerated Power Development and Reforms Program is driving the growth and strengthening of sub-transmission lines. In addition, the increase in transmission grid reliability will result in heightened demand for power transformers, the analysis shows. "Other than the central and state utilities plans for power capacity addition, private sector investment is also expected to have a profound influence on the development of the power industry," noted Frost & Sullivan's Srinivasan. "Also, aging equipment is creating potential for a booming replacement market and this demand will be sustained by the growth in industrial demand."
Factors affecting sale of transformers
The factors that largely affect the sale of Transformers are:
Price:The price of the Transformer is the most prominent factor that affects the sales. If the price offered by a company is more than the price offered by any other company, then the company with a lesser price is likely to have more sales. But it is not so every time, because some time the brand and quality compensates the price of the product,
Because if offered a better quality and a reputed brand the customers are willing to pay a higher price. The price also includes the shipping cost and installation cost. We normally ignore the transportation and installation charges, but sometimes these charges are really huge. As transformers are very heavy and bulky, it takes a lot of labour and time to install it. This also contributes to the overall cost of the transformer. The price of a GE transformer comes to ~ INR 300,000 - INR 350,000 / MVA as a thumb rule which is appreciably higher than what local manufacturers provide in India.
Rise in price of Steel and Copper:-
The price of raw materials i.e. steel and copper also plays a major role in the sale of transformers. The price of raw materials determines the manufacturing cost of the transformer and thus increases its final cost. The price of steel has gone higher considerably with in past years. This is shown by the graphs shown above and below.
Copper is also a vital part of the transformer. Inside the transformer the winding on its core is made from copper. Thus the price of copper also plays a major role in the final price of the transformer thus affecting its sales not only in India but throughout the world.
The new technology also affects the sale of transformers. As we know that everyone wants to possess the latest technology gadgets. So in the transformer market as technology is changing daily, the demand of newer and improved transformers is increasing. The demand of older transformers is decreasing and so is their cost going down as no one wants to buy the older technology at higher prices. This is a big problem for the manufacturers. The value of the inventory in their store decreases when newer technology comes to play in the market. Thus to sell that stock the manufacturers have to lower the prices.
As delivery play very important role in the sale of the transformer. If the delivery time is long then this will affect the sale of the transformer. For every consumer delivery time is one of the important factors for the selection the organization. Delivery time play an important role because delivery time is directly proportional to the cost of the transformer. More the delivery time more the cost of the transformer. Transporting of the transformer is
such a costly process that it affects lot on the overall cost of the transformer. As GE has a problem in delivery time because GE has no production unit in India, that why GE is facing lots of problem in establishing the business in India.
BRAND / QUALITY
Brand or quality is also one of the important factor which play an important role in the sale of the transformer. Across the company, GE employees embrace Six Sigma's customerfocused, data-driven philosophy and apply it to everything we do. GE also works with their customers and suppliers to achieve the highest levels of quality possible.
GE continue to build on successes by sharing best practices across all of our businesses, putting the full power of GE behind our quest for better, faster customer solutions.
Other factor which effect the sales of the transformer is Market demand .If the market demand is high it isobvious that the sales of the transformer is also increase There is directly proportional relationship between the market demand and sales of the transformer World electric transmission and distribution equipment demand is likely to rise 4.4 percent annually through 2011. The industrial and
commercial sector will see the strongest gains as cogeneration proliferates and products such as high voltage transformers become more common outside of the utility sector. The market demand also depends on the economy state of the country. When we talk about India, we see it as a very fast growing economy. The demand of the power distribution equipment in such a nation is likely to be very high. Govt of India is planning to set up a number of new power plants to meet the growing energy demand in the country, thus they will need a number of high quality transformers. Thus there will be a substantial increase in the demand of transformers in the country.
Swot analysis of GE in India
Swot analysis is a two by two matrix, which shows the Strengths, Weakness, Opportunities and Threats of the product abut which we are talking.
Strengths of GE
Brand Quality Varity of products Better service Better technology
No manufacturing facility in India Has to deliver all the products from USA to the destination
Higher prices Takes longer time to deliver the products to customer Not established in Indian transformer market
It can exploit and capture the huge Indian market Customers in India now want better quality and technology products. GE can explore this segment Customers in India are mostly Government organizations, if GE get a few contracts, it can capture a large share of market
Competitors Changing market trends Changing market demand Higher shipping cost, order time
Political factors: The political factors include
Monopolies legislation Environmental protection laws Taxation policy Employment laws Government policy Legislation The political scenario in India is very favourable for the foreign companies that want to enter Indian market. The government is following the open door policy and it is inviting the foreign companies to invest in India and sell their products in Indian market. This will provide employment to a large number of people. Economic Factors: The economic factors include Inflation Employment Disposable income Business cycles Energy availability and cost In India the economy is really booming, there is a great demand of power distribution equipment and the demand is to rise in the coming years. Moreover the country is a developing country and there are many power generation and power transmission projects going on in the country. The customers are also willing to pay higher prices if they are offered better quality and branded equipment. Socio-cultural Factors: The socio-cultural factors include
Demographics Distribution of income Social mobility Lifestyle changes Consumerism Levels of education The socio-cultural factors also favour the company’s plans. Technological Factors: The technological factors include New discoveries and innovations Speed of technology transfer Rates of obsolescence Internet Information technology The technological factors also favour the company. The company has the latest technology used in manufacturing transformers. It has the best engineers and a well developed R&D department which enables GE to develop newer and more effective technologies.
Major players in Indian Transformer Market
BHEL has been by far the leading player in PPE with a market share of 65% of the installed base in India. Other players are Siemens, GE, Alstom , Ansaldo and Hanjung. BHEL, Siemens and ABB (now Alstom) dominated the Indian power plant equipment industry till 1991. With IPPs and international competitive bidding setting in, players like Mitsubishi, Hanjung, Hyundai and Chinese manufacturers are also making their presence felt. GE was not selling the 400KV transformers in India till now. GE realised that there is a great opportunity in Indian market. Now it is entering the Indian market in a big way. It is aiming to sell power transformers of good quality, parts and services in India.
The main competitors of GE in Indian market are companies like
BHEL Siemens ABB (Alstom) Ansaldo Hanjung The main market share is captured by BHEL. The others are also well established. Almost all the competitors have a manufacturing facility in India from where they manufacture and supply the product to the customers. This enables them to lower their delivery time and also the shipping cost thus lowering the overall cost of the product. These companies have well developed marketing strategies to market their product, this gives them a competitive advantage. More over their price tag is also very competitive and beats GE’s price tag by a good significance. On the other hand the regular service and change of spare parts is also very quick and in less cost, while GE has to import all its parts from USA or from warehouses in nearby countries. BHEL is a government concern company so it holds a major advantage as most of the customers in India are the government organizations. The competitors also provide cheap and quicker service of the transformers.
GE’s Edge over its competitor
The factors where GE has an edge over its competitors are: Brand name: The brand name of GE around the world is the biggest advantage of GE over the competitors. In today’s market brand is the
driving force behind most of the purchase that a customer does. Transformer is a very expensive product. The customer wants to have a product that lasts long and doesn’t give problems in operation, thus they prefer products of good brands. Technology: GE has the most modern technology. So its products are also technically much advanced than its competitors. This is a great advantage that GE has. The competitors in Indian market are mostly Indian companies that do not have the latest technology. Quality of products: the quality if the product is another point where the company holds the advantage over its competitors in the Indian market. Quality of services: GE not only offers high quality products but also high quality services for the products. It believes in building long term relations with its customers. The competitors are also providing good services but it does not match the quality of GE.
The factors where GE loses to its competitors are: GE is a very well developed company but still it has some drawbacks in India where it loses to its competitors. The main problem is that GE does not have a manufacturing facility in India; it has to import its products from other countries where it has a manufacturing facility (mainly from USA). This leads to many problems; the delivery time
of the products (time taken by the company to deliver the products to the customers) is much more that what its competitors promise. The other problem arising is the shipping cost. The shipping cost of transporting transformers is very high. This cost adds to the total cost of the product which is already priced higher than that of the competitor’s products. The other problem is that the competitors are established in the market and GE is a new entrant in the Indian transformer market. GE has to find customers and establish itself in the market but its competitors are already established in the market. They have loyal customers who buy their products. Because purchasing a transformer from a company is also building a long term relation between the company and the customer. More over GE has a higher product price, which may be a major drawback in the price conscious Indian market. The price of a GE transformer comes to ~ INR 300,000 - INR 350,000 / MVA
There is no dough that GE is the one of the best organization in world. For the Indian transformers market GE is a new organization, so it will take long time for it to be well known in Indian market. GE has recently launched its power transformers in India. The sales are low. GE needs a good marketing strategy for selling its transformers in
Indian market. They need to frame strategies and develop a good image in the market to attract loyal customers.
A research design is a framework or blueprint for conducting the marketing research project. It details the procedure necessary for obtaining the information needed to structure and/or solve marketing research problems. The research design provides a specific detail as to how to implement the approach. A good research design will ensure that marketing research project is conducted effectively and efficiently. Typically, a research design involves the following components, or tasks: • Define the information needed.
• Design the exploratory, descriptive and /or causal phases of the research • Specify the measurement and scaling procedures
Construct and pretest the questionnaire or an appropriate form of data collection
• Specify the sampling process and sample size • Develop a plan for data analysis. Research designs may be broadly classified as exploratory or conclusive researches. The primary objective of exploratory research is to provide insights into, and an understanding of the problem confronting the researcher. The information needed is only loosely defined at this stage and the research process adopted is flexible and unstructured. The primary data is qualitative in nature. Usually these researches are followed by further exploratory research or conclusive research. Conclusive research is done to assist the decision maker in determining, evaluating and selecting the best course of action to be taken in a given situation. The objective of conclusive research is to test specific hypotheses and examine specific relationships.
In this project I have done Exploratory research. And I have used secondary data.
Strategy has three levels: Market strategy Business strategy Functional strategy Market strategy is of two types, Market Expansion and Market focus. In Indian market the competitors are well established (BHEL holds nearly 65% of the market share) and have a large number of customers that are loyal to the company. GE is a new entrant in the 400KV transformer segment, so it is not profitable to compete with the well established competitors having Quality, Brand and technology as the only weapons. Instead GE should use the
Expansion strategy for selling its 400KV transformers in Indian market. The conventional market is the government organizations involved in the transmission and distribution of Power. Beside this the company has to identify new markets. The possible markets can be the private power generating and transmission companies like Reliance etc, the big industrial plants that need a very high voltage of power like that of 400KV, big housing complexes and societies that need a different substation. These markets can be explored and targeted. Most private companies desire high quality, technically advance, reliable and durable products and are also willing to pay more for all these factors. GE is has an edge in these factors and has a very good brand image. Thus it should position its products on basis of quality, technology and brand. Business strategy is analyzing the structure of the organization and restructuring it if needed. For example if the company wants to sell its products in whole country it has to setup marketing and sales offices in all parts of the country. It can be state wise or zone wise, if there is not an adequate staff it needs to recruit more staff. The company can also find a middle man who has very good contacts or can bring possible customers to the company.
Functional strategy deals with applying the strategy in the market. First the company has to make a budget for promotion of its product. Then according to the budget it should decide which means of promotion to choose. The possible methods of promotion can be: • Giving advertisement in the Newspapers preferably on the front page.
The company can send its marketing officials to the office of the state electricity boards, power generation and distribution companies, electricity ministers and other targets to tell about their product and promote it.
• Press conference can be organized for gaining the required publicity for the product. • Moreover lobbing (though illegal) can be used to raise the price in the transformer market so that GE can decrease the price gap between the price of the competitor and GE’s price tag.
The recommendations for GE are
It should not fight with the existing competitors in the market, as it will be risky and will require a large number of resources. Instead the company should opt for the expansion strategy.
The delivery time of the product adds to the overall cost of the product. GE has to import its products from its manufacturing facility in USA, this increases the delivery time of the product. The company can forecast the sales and can store the products in the ware house in advance so that in could supply the product directly from the ware house to customer and reduce the delivery time.
Marketing and sales office can be set up in different states of in different zones of the country so that the vastness of the country
can be efficiently covered. Skilled staff should be recruited to run these offices.
• • • • • • • •
www.geenergy.com www.ge.com www.google.com www.wikipedia.com www.siemens.com www.bhel.com www.siemens.com www.abb.com
• Secondary data available in the company • Marketing strategy By- O.C.Ferrell Michael D.Hartline • Market research By-Naresh K Malhotra • Marketing management
By- Koshi Jha
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