Analysis Of Tesla Marketing Assignment

MARKETING MIX OF TESLA COMPANY.
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MARKETING MIX OF TESLA COMPANY.
Question 1
Tesla Company was started in 2003 by a group of world’s successful engineers who had the thought of proving to the world that it does not have to always compromise the efficiency of electric cars and that they are quicker, simpler and more fun to drive compared to gasoline driven cars. The company has ventured in to the field of manufacturing electric cars, storing products as well as producing clean and scalable energy (Stolze, 2015).The company started growing in 2008 when it launched its first ever battery technology and an electric power train before designing and unveiling the world’s first ever and efficient electric car which received numerous positive reactions and receptions. The literature review of this company’s operation shows that although it has certain accounts of preceding reputations in the minds of its customers, certain aspects of its marketing strategies requires improvement.
The analysis of this company’s marketing mix is majorly based on three concepts or theories of marketing suggested by Kotler in his book, Principles of Marketing. His first theory states that a marketing mix is a set of marketing tools that a company uses to promote itself and its product development (Kotler & Armstrong, 2012). The theory supports the 4P marketing mix which entails the product, price, place and promotion, a notion that the essay on the analysis follows to the last section. The second concept applied is the concept of marketing environment of the company where the micro environment has a branch called marketing intermediaries which deals with how a company promotes, sells and distributes its products through different channels to the final buyer using supply chain management. This theory also entails the concept of has been applied in the text in the distribution and place section which states that Tesla Company prefers setting up stores, galleries and service centers for the purpose of distributing its products.
Additionally, the theory of consumer relationship management is applied in the text to analyze how the company collects and evaluates detailed information about their individual customers and carefully managing its services in order to increase loyalty. The analysis of the company proves this theory in that the company has several service centers in the United States of America tasked with the responsibility of interacting with customers, advising them on the ideal features of products that will suit their immediate pleasure, qualities and personality. The next theory deals with how a company ensures that it builds customer value and how it correctly tabulates its pricing strategies. This notion is evident in the analysis of Tesla Company as the company appreciates customer value-based pricing where the standard prices of its products are wholly customer oriented and facilitated by numerous pricing considerations. Finally, the concept of communication strategy is used in the text in the description of the promotion section which is evident as the company employs certain promotion tools such as advertisements using social media platf...