MARKETING AUDIT OF TESLA: Tesla Model 3 in China (Business & Marketing Essay)

MARKETING AUDIT OF TESLA 3
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"Marketing Audit of Tesla 3"
Executive Summary
The report explains Tesla as an organization and the company's marketing strategies, "Model 3" in China. Tesla is known to produce products with superior technology and output. It has gained the trust of its consumer in America. It has a unique positioning because of which it is a well-known brand. Being a premium brand such as Apple, Company cannot compromise on brand positioning. To maintain the trust of its consumers and brand image, it has to bring other strategies to maintain growth and profitability. Market expansion is one of the most feasible of all the available solutions. It would provide the Company to attain new consumers and potential opportunities to introduce more ecological products. China is already introduced electric car technology. However, the available option lags the quality of the product in contrast to Tesla. Tesla needs to act quickly, as the competition is stiff and needs to be countered for sustainability.
Marketing Mix
Marketing Mix identifies the organization's output or the products that are sold to the customer.
Product
Tesla All-Wheel Drive has two independent motors, which are placed for redundancy. Each one has one moving part so that minimum maintenance is to be done over a period. It is different from the conventional All-Wheel drive system as it has a digital system to control the torque for the front and the back wheels. It helps in better handling and traction control. Tesla is known for its electric-powered vehicles. The Company offers one of a kind vehicle with unique designs; it is a product that Company aims to expand in, globally. The car has advanced features that include autopilots and convenience features designed to assist the driver with the most hectic driving routine. (Dikmen and Burns, 2016) The increase in the disposable income of people has led to an increase in cars on the road. Growing market demand for car mostly but on the hind, it is an increase in the traffic, which can be tiring for people. This added feature in the car enables a hectic free, and enjoyable driving experience for people who have to travel a lot daily. A smartphone can be used for driving and controlling critical features of the driving. (Toumi, 2018). Tesla 3 is a product that is not unique but an up to date product that meets the demands of present times.
Price
Tesla covers a premium-pricing strategy, which means having higher price points based on the uniqueness of the product or the goodwill that is attributed to the organization. Customer is willing to pay a high price for Tesla products based on its unique features and environmentally friendly features. Innovations and product design are some of the unique features are some of the significant factors upon which the Company functions effectively. The premium pricing is relatively in agreement with the generic strategy of differentiation. In other words, the Company charges value for money. With the latest technology and effective product such as Model 3, the company charges a little more than its competitors. Over the period, the company has built a reputation of a car o...