Sign Up Now
Get instant access to over 1 million+ study documents
OR
Already registered? click here to login
By creating your account, you agree to our terms of service, privacy policy and student honor code.
Tesla Marketing Plan
For over a decade, Tesla Motors has emerged as one of market leaders in designing, manufacturing, and selling luxurious electric cars, battery components, and powertrain components. With its establishment in 2003, the company has established an innovative niche in the electric car business. Tesla has developed a market strategy that embodies the company's core values in the luxury electronic vehicle business. With this strategy, the company establishes a competitive niche that surpasses other players in the market.
With this strategy, Tesla can benefit from gaining a significant market share, brand loyalty and awareness, and realization of profits through the adoption of new strategies. In this paper, we look into the market success plan for Tesla Motors (Damodaran 40).
In this case, we develop a fully electric, brand new, and entry-level car named Tesla Z. The car will possess core components of a Tesla vehicle. However, the creation of the car will target 40-60 aged individuals. Development of the car will take into consideration the aspect of the budget to enable customers to buy the car at an affordable price. A variety of luring programs such as Test Drive America and Amplify Your Ride come in handy in improving customer loyalty and satisfaction. Launching an integrated marketing campaign, capitalizing on advertisements spreads the word of Tesla's innovative product.
Shipping of the first car will occur early 2016 for those that booked the car in 2015. The company will host Test Drive America...
Spreading such campaigns gives customers the opportunity to enjoy the innovativeness of Tesla Z. The growth of electric and hybrid vehicle business will depict the demand for the car in the next half a decade. The company can channel resources to cater for an increase in demand for the car. Previously, the expansion of the Supercharger station has given Tesla an appeal in the mass market.
Over five years, it is expected that the strategy will generate revenues totaling $7,900,527, 490. From the sales, a profit of margin of $1,593, 472,782 will occur as a result.
Situational Analysis
For over a decade, Tesla's market presence has enabled it to gain a competitive market niche over other players. A comprehensive market strategy occurs as an essential success measure for the business. Based on the market dynamics, a market entry with Tesla Z suits the targeted 40-60-year bracket customers.
A) Market Summary
Tesla possesses good information on market dynamics especially demands of target customers. Leveraging on the information results in a better understanding of the specific needs of customers and the best techniques for communicating to customers based on their needs.
I. Market Demographics
Tesla Z targets customer group, 40-60 aged customers consist of the following demographic, geographic, and behavioral factors that include the following:
Geographic's
The location of the…
Works Cited
Ayre, James (2015, March 28). "Electric Car Demand Growing, Global Market Hits 740,000 Units." Clean Technica, 28 March 2015.
Damodaran, Aswath. Investment Valuation: Tools and Techniques for Determining the Value of any Asset, University Edition. New York: John Wiley & Sons, 2012. Print.
Kalla, Susan. "Demand For Tesla Is Not The Problem, Switching The World To Electric Cars Is" Forbes. 30 November 2014. Web.
Tesla Motors became a public traded company, (NASDAQ stock quote code: TSLA), earlier this year. You are the Channels Manager for Tesla Motors. How do you think Tesla has developed its distribution strategy, i.e. what were the most important things to have been considered? With the launch of the model S. sedan due in 2012, how would you further develop the distribution strategy over the next five years, and why? Tesla
Tesla Motors has a cash flow problem, which makes it vulnerable to the many larger competitors who want into the electric vehicle business. The advantage Tesla has is with its battery technology, which is vastly superior to anybody else's, and in its brand name and leadership. The in-house distribution is unique to the industry but it might be too early to determine whether this is helping Tesla or hurting it.
Tesla Motors was founded in 2003 "by a group of engineers in Silicon Valley who wanted to prove that electric cars could be better than gasoline-powered cars." The company's first car, the Roadster, was launched in 2008 and the second car, the Model S, was launched in 2012. The company has been a major success since its inception, and while it still is not turning a profit, its revenues are
Tesla Case Analysis General Environment/Industry Analysis The automobile industry is changing quickly with more and more competitors entering into the EV market. Jaguar is introducing its I-Pace, a premium EV with a base model price under $70k. Audi is introducing its E-Tron Quattro E-SUV this year and an E-Tron Sportback next year. Porsche is bringing its Mission E Cross as its second EV. Mercedes plans a 2018 EQC Electric SUV. And then
Summary There are certain aspects of Tesla' s business model that distinguish it from other automakers. These manifest either in its accounting policies, or in the ways in which those policies will affect Tesla (but maybe not its competitors, even if they utilize the same policies). The direct-to-consumer sales model in particular holds influence over some policies, while the company's youth handcuffs it with respect to how it handles things like
SWOT Analysis: Tesla Motors Tesla Motors was founded in 2003 and it specializes in high-end electric vehicles. The company operates out of Palo Alto California and it has over 2000 employees. It was founded by Elon Musk who has prior success in SpaceX and PayPal. The company's goals is to accelerate the transition to electric mobility with a full range of increasingly Despite the fact that it has received loans from