Tesla Marketing Plan.docx - TESLA Evan Miller Michael Zambito Jared Crimmins Rayyan Alboqari Introduction to Marketing MKT-333 15 November 2018 TABLE OF

Tesla Marketing Plan.docx - TESLA Evan Miller Michael...

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TESLA Evan Miller, Michael Zambito, Jared Crimmins, Rayyan Alboqari Introduction to Marketing - MKT-333 15 November 2018 TABLE OF CONTENTS
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TESLA MARKETING PROJECT EXECUTIVE SUMMARY 3 A. TESLA BACKGROUND 4 B. ORIENTATION 6 C. Competitive Advantage 7 D. Marketing Mix 7 E. Corporate Social Responsibility 8 F. External Environment/Industry/Competitors 8 G. Global Presence 9 H. Cultural & Social Influencers 10 I. Model S Target Market 10 J. Perceptual Map 11 K. Target Markets 11 L. Marketing Research Utilization 12 M. Publicity 12 N. Social Media Marketing 12 O. Tesla Products 13 P. Tesla Product life cycle 14 Q. Personal Experience with Tesla 15 R. Model S Marketing Channels 16 S. Model S Promotional Mix 16 T. 10 Questions 16 U. Social media strategy 16 V. Model S Pricing Strategy 17 Works Cited 18 EXECUTIVE SUMMARY Tesla was founded in 2003 by Malcom Smith and Martin Eberhard who were engineers from the silicon valley. They struggled to find financial backers until Elon Musk made 2
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TESLA MARKETING PROJECT several sizable donations. They released their first vehicle, the Roadster in 2008 and the same year, Elon Musk did not like the way Tesla was being manages so he fired the CEO and a quarter of the employees. Elon Musk then decided to become the CEO. Since then Tesla has released 7 vehicles, 4 being in production today, and they are soon to produce two more. Today they are not only an automotive company but a sustainable energy company since they merged with SolarCity. Tesla exceeds many benchmarks in the electric vehicle market including range, features, and safety. As charging stations owned by Tesla and those created by state and local governments become more readily available consumers will be more comfortable and confident in making the switch to electric from gasoline. These supercharging stations have a high competitive advantage against the the rest of the automotive companies in the industry. A long with this the range, features, and safety are an advantage that tesla's competitors do not have. Tesla has carefully selected their target market of people in their 30’s to young 60’s. Within this age range tesla focuses on people who are tech savvy, eco-friendly, and entry level luxury car buyers. This is a very effective strategy as their sales have begun to rise. Tesla markets themselves to these target markets by using viral marketing such as social media including instagram and twitter. Instagram is their main way of communicating to the younger age class of their target market. To then sell their products to their consumers, Tesla uses and online website, company owned stores, and mall booths. These are the marketing channels used by tesla. Another marketing method is through their corporate social responsibility. They are very eco-friendly and decrease the carbon footprint by not using fossil fuels and tesla vehicles are manufactured with virtually completely recyclable materials. Tesla also does not patent their products so competitors can enter the electric vehicle market using their designs and decrease the carbon footprint.
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