Tesla Benchmark Part 2 PDF

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Marketing Plan Analysis and Presentation: Part 2 – Research Template Directions: Using the company and research sources from the Topic 2 assignment as a starting point, conduct additional research to acquire information related to consumer behavior, product or service, and price associated with the company you selected. In the “Research Summary” section, discuss how the company could use these types of research findings to develop a marketing plan to meet the company marketing objectives and business needs. Information to be Researched Describe the customer segments and target markets.

Research Findings Tesla centers around one portion of clients. This is called mono-portion situating. However, they consider understanding this market fragment and subgroup action. As such, the objective market is portioned in three principal ways: segment, geographic, conduct, financial, and psychographic division.

Cheong, T., Song, S. H., & Hu, C. (2016). Strategic alliance with competitors in the electric vehicle market: Tesla motor’s case. Mathematical Problems in Engineering, 2016. Furr, N., & Dyer, J. (2020). Lessons from Tesla’s Approach to Innovation. Harvard Business Review. Retrieved 13 June 2020, from https://hbr.org/2020/02/lessons-from-teslasapproach-toinnovation. Tesla Website. (2020). Investors Overview | Tesla, Inc. Tesla, Inc. Retrieved 13 June 2020, from https://ir.tesla.com/.

Tesla serves one market – the premium all electric sports vehicle market.  The organization serves a world class gathering of private financial backers and clients who are well off.  What is more, are taught on contemporary issues like contamination and environmental change.  The electronic vehicle (EV) market is transcendently situated in zones where there is the appropriate framework to help EV.

Mangram, M. E. (2012). The globalization of Tesla Motors: a strategic marketing plan analysis. Journal of Strategic Marketing, 20(4), 289-312. Furr, N., & Dyer, J. (2020). Lessons from Tesla’s Approach to Innovation. Harvard Business Review. Retrieved 13 June 2020, from https://hbr.org/2020/02/lessons-from-teslasapproach-toinnovation. Tesla Website. (2020). Investors Overview | Tesla, Inc. Tesla, Inc. Retrieved 13 June 2020, from https://ir.tesla.com/.

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Describe characteristics of the target markets that will affect product/service and pricing decisions.

Resource Citation Information

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© 2019. Grand Canyon University. All Rights Reserved.

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Describe how the company differentiates its product and positions its brand.

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In these areas, the spending on charging networks is generally high. In this market, clients are progressively aware of the climate. There is incredible. interest in economical methods of transport. Clients will undoubtedly pay more for ecofriendly vehicles. The focused-on people comprise for the most part of businesspeople and business chiefs who are city inhabitants and ecocognizant. They are additionally well informed, early adopters, and in the upper to the working class. They additionally to a great extent own other premium extravagance vehicles like the Audi, Mercedes, and BMW. Tesla separates its items by giving its clients with extraordinary item plan, bespoke innovation, and remarkable client assistance. Tesla likewise consolidates a purchasing experience that is sans bother and advantageous for the purchaser. Tesla use modest battery innovation in this manner limits the absolute expense of claiming the vehicle all through its lifetime. Tesla underscores and gains by its set out to fabricate eco-accommodating vehicles. This makes the organization an industry chief. The organization builds up its vehicles like a programming business which permits it to give consistent updates and overhauls in its items. Since the Tesla vehicle has less parts, its all-out costs are essentially lower as contrasted with vehicles working through

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Mangram, M. E. (2012). The globalization of Tesla Motors: a strategic marketing plan analysis. Journal of Strategic Marketing, 20(4), 289-312. Tesla Website. (2020). About Tesla. https://www.tesla.com/about. Retrieved 13 June 2020, from https://www.tesla.com/about. Furr, N., & Dyer, J. (2020). Lessons from Tesla’s Approach to Innovation. Harvard Business Review. Retrieved 13 June 2020, from https://hbr.org/2020/02/lessons-fromteslasapproach-to-innovation. Tesla Website. (2020). Investors Overview | Tesla, Inc. Tesla, Inc. Retrieved 13 June 2020, from https://ir.tesla.com/.

Describe a consumer buying behavior model for this company and brand.

Describe the product mix.

Describe the product lines.

inside ignition motors. The interest drivers for Tesla's clients incorporate the craving to bring down the carbon impression.  The clients are additionally aware of the expense of petroleum products. Electric vehicles give an elective course to get an energy-effective vehicle.  Tesla's interest is likewise determined by the marking of its items. The apparent tip top status and brand acknowledgment of Tesla is a huge driver for request.  The capacity of battery charging stations and other help administrations are additionally determinants of interest.  Tesla's items fall in the auto, energy age, and energy stockpiling markets.  Tesla utilizes item improvement to understand its corporate goals. The four primary items incorporate cars, electric vehicle powertrain segments, sun-based boards, and batteries. 

Tesla electric vehicles product offering incorporates:  Model S – the primary ever premium and all electric vehicle  Model X – a game utility electric vehicle  Model 3 – a low-valued, high-volume electric vehicle.  Tesla Semi – an electric truck  Model Y – fair sized SUV that seats up to 7.  Cybertruck Other prominent product offerings fall under the energy arrangements division and include:

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Mangram, M. E. (2012). The globalization of Tesla Motors: a strategic marketing plan analysis. Journal of Strategic Marketing, 20(4), 289-312. Tesla Website. (2020). About Tesla. https://www.tesla.com/about. Retrieved 13 June. 2020, from https://www.tesla.com/about. Furr, N., & Dyer, J. (2020). Lessons from Tesla’s Approach to Innovation. Harvard Business Review. Retrieved 13 June 2020, from https://hbr.org/2020/02/lessons-from-teslasapproach-toinnovation. Tesla Website. (2020). Investors Overview | Tesla, Inc. Tesla, Inc. Retrieved 13 June 2020, from https://ir.tesla.com/. Cheong, T., Song, S. H., & Hu, C. (2016). Strategic alliance with competitors in the electric vehicle market: Tesla motor’s case. Mathematical Problems in Engineering, 2016. Tesla Website. (2020). About Tesla. https://www.tesla.com/about. Retrieved 13 June. 2020, from https://www.tesla.com/about. Tesla Website. (2020). Investors Overview | Tesla, Inc. Tesla, Inc. Retrieved 13 June 2020, from https://ir.tesla.com/. Tesla Website. (2020). About Tesla. https://www.tesla.com/about. Retrieved 13 June. 2020, from https://www.tesla.com/about. Shipley, L. (2020). How Tesla Sets Itself Apart. Harvard Business Review. Retrieved 13 June 2020, from https://hbr.org/2020/02/how-tesla-sets-itself-apart

Describe the service processes.

Discuss physical evidence of service, service scape, and ambiance.

Discuss the roles of company employees in service delivery.

 Powerwall, Powerpack, and Solar Roo Tesla maintains its own help business. It does not rethink mechanics from outside the organization to get to its symptomatic devices.  Customers can demand administrations through the versatile application.  Tesla gives text refreshes through its application with respect to advance of fixes and other significant issues.  Tesla offers free side of the road help.  Offers an advantageous help highlight that is proactive: e.g., free loaner vehicles can be conveyed to the client.  The Tesla Ranger Service considers specialists to go to the client.  First and foremost, Tesla makes a huge effort to ensure client comfort. This pushes the Tesla to go any-place the client is found.  Tesla store: Tesla sells its items on the web instead of through vendors. Their stores, notwithstanding, sell a few embellishments. They moreover offer different types of assistance like client administration, test drives, and so on.  Tesla's offices are planned with their client as a main priority. They are present day, clean, what is more, smooth. They have splendid lighting and have enamoring photography and workmanship.  Tesla's representatives are needed to fare thee well of clients' necessities.  They likewise run the display areas and help clients with issues, for example, customizations, and test drives, vehicle support, and so forth. They participate in offsite fixes just as give loaner vehicles to

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Cheong, T., Song, S. H., & Hu, C. (2016). Strategic alliance with competitors in the electric vehicle market: Tesla motor’s case. Mathematical Problems in Engineering, 2016. Shipley, L. (2020). How Tesla Sets Itself Apart. Harvard Business Review. Retrieved 13 June 2020, from https://hbr.org/2020/02/how-tesla-sets-itselfapart. Tesla Website. (2020). Investors Overview | Tesla, Inc. Tesla, Inc. Retrieved 13 June 2020, from https://ir.tesla.com/.

Karamitsios, A. (2013). Open innovation in EVs: A case study of Tesla Motors. Shipley, L. (2020). How Tesla Sets Itself Apart. Harvard Business Review. Retrieved 13 June 2020, from https://hbr.org/2020/02/how-tesla-sets-itselfapart. Tesla Website. (2020). Investors Overview | Tesla, Inc. Tesla, Inc. Retrieved 13 June 2020, from https://ir.tesla.com/.

Karamitsios, A. (2013). Open innovation in EVs: A case study of Tesla Motors. Furr, N., & Dyer, J. (2020). Lessons from Tesla’s Approach to Innovation. Harvard Business Review. Retrieved 13 June 2020, from https://hbr.org/2020/02/lessons-from-teslasapproach-toinnovation.

clients. Deliver proficient help support at Tesla's administration habitats.  Tesla utilizes a deal arranged evaluating objective right now. They expect to develop its piece of the pie and attest their situation in the business.  Generally, the organization makes more misfortunes than benefits each quarter. One explanation for this is the gigantic measure of cash spent on R&D.  They sell top of the line vehicles at top-ofthe-line costs.  The recently uncovered Model 3 vehicle will be sold at a lower value point however to a bigger client base. Tesla's evaluating procedure is premium.  For instance, the Model S is sold as an extravagance vehicle the valuing methodology depends on the items' uniqueness and high worth ascribed to them.  The base model for the Model S begins at $79,99. 

Define the company’s pricing objectives and discuss whether the objectives are profit- or sales-oriented.

Provide an example of current company pricing strategies.

Describe pricing tactics (discounts, etc.) that are used to drive short-term demand

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Tesla gives its items at a retail cost on the web. Thus, they work dependent on transient evaluating strategies trying to draw clients towards their product offerings. An illustration of these strategies incorporates raising the base store needed for clients to buy their vehicles. Accordingly, this increments their momentary benefits. For instance, Tesla once expanded the store for the Model 3 vehicle from $1000 to $2500 in Q4 2018

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Tesla Website. (2020). Investors Overview | Tesla, Inc. Tesla, Inc. Retrieved 13 June 2020, from https://ir.tesla.com/. Overcoming barriers to entry in an established industry: Tesla Motors. California Management Review, 57(4), 85-103. Shipley, L. (2020). How Tesla Sets Itself Apart. Harvard Business Review. Retrieved 13 June 2020, from https://hbr.org/2020/02/how-tesla-sets-itselfapart.

Furr, N., & Dyer, J. (2020). Lessons from Tesla’s Approach to Innovation. Harvard Business Review. Retrieved 13 June 2020, from https://hbr.org/2020/02/lessons-from-teslasapproach-toinnovation. Tesla Website. (2020). Investors Overview | Tesla, Inc. Tesla, Inc. Retrieved 13 June 2020, from https://ir.tesla.com/. Business Review. Retrieved 13 June 2020, from https://hbr.org/2020/02/lessons-from-teslasapproach-toinnovation. Shipley, L. (2020). How Tesla Sets Itself Apart. Harvard Business Review. Retrieved 13 June 2020, from https://hbr.org/2020/02/how-tesla-sets-itselfapart. Tesla Website. (2020). Investors Overview | Tesla, Inc. Tesla, Inc. Retrieved 13 June 2020, from https://ir.tesla.com/.

Research Summary: In 250 words, discuss how the company could use these types of research findings to develop a marketing plan to meet the company's marketing objectives and business needs. In view of these exploration discoveries, Tesla should deliver limited time recordings that vigorously target online media clients. Quite a bit of its objective is technically knowledgeable and promptly absorb innovations in their everyday activities. Their promoting effort ought to stay consistent with their character which is an "innovation focused" organization. Notwithstanding, Tesla does not have a substantial presence out and about. Their rivals have a hefty presence in essential regions, for example, businesses or service stations. Tesla should expand their perceivability to likely purchasers on the street. Right now, numerous potential purchasers could be seeing Tesla's items in the theoretical and as inaccessible. Since the organization is hoping to extend its piece of the pie, it ought to consider building a thorough promoting effort that objectives spending clients. Tesla's image is known at its significant expenses and extravagance bid. Notwithstanding, its choice to dispatch a spending vehicle prompts the organization to consider its situating to pull in the new client portion. The informing towards new clients ought to likewise be expanded to incorporate other segment gatherings. Tesla ought to seek to target more ladies and youthful working experts. Close by these new activities, the organization ought to improve its administration arrangement and backing administrations. A decent move for the organization is guarantee that more assistance places are effectively accessible in more territories in its objective business sectors. Also, the organization should attempt to give more super charging focuses to clients along the street to build their product offering's appeal and convenience scores. By and large, Telsa should make a few enhancements for their battery life and charging station foundation to win their rivals.

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