Marketing Fundamentals: Tesla Inc. Background and Products

This assignment provides information about the background of Tesla Inc. and its products. It explores the concept of marketing fundamentals, including the 4P's of marketing and the pricing strategies used by the company. The assignment also discusses the importance of effective communication and time management skills in completing the project.

Marketing
Fundamentals

Contents
INTRODUCTION...........................................................................................................................1
PART 1............................................................................................................................................1
Reflection.....................................................................................................................................2
CONCLUSION................................................................................................................................3
REFERENCES................................................................................................................................4

INTRODUCTION
Marketing is an activity of selling purchasing and promoting goods and services of a
company with the purpose of fulfilling consumer’s needs and demands (Chaffey and Ellis-
Chadwick, 2019). It can understand of product, price, place and promotion of a firm. This
assignment is based on Tesla which is an American electric vehicle and clean energy company.
This venture was incorporated in 2003 and is headquartered in California US. The company
operate its business globally with the help of its different products like Electric vehicles, Tesla
batteries and Solar panels & roofs. This written document will cover information about
background of the company and its products & services.
PART 1
Background of the company
Tesla Inc was established in 2003 by the engineers Martin Eberhard and Marc Tarpenning in
San Carlos, California, US. The organisation operates its business in Automotive, Energy and
Energy production industries. This venture originally known as Tesla Motors, a name the
organisation changed in 2017. The firm only manufacture cars but also specialise in electric
vehicle production, battery energy storage, solar panel and solar roof etc. The firm use premium
pricing market oriented pricing strategies to sell its products in effective manner. This firm
employ 48, 016 people and offering its services across the world more than 30 nations (Deepak
and Jeyakumar, 2019). The firm was named after the 19th century inventor Nikola Tesla who best
known for discovering the properties of rotating electromagnetic areas. Tesla is historically noted
for his important and essential contributions o electrical engineering and sciences. At the
incorporating of Tesla, Eberhard served as its CEO and Trapenning served as CFO. They
launched this enterprise to develop and manufacture an entirely electric car, in part that
supported to favourable reaction test markets had to General Motors.
The company is funded by different sources of finance, most notably PayPal cofounder Elon
Musk, who contributed more than $30million to the new enterprise and served as Chairman of
the organization in beginning of 2004 (Visser, Sikkenga and Berry, 2019). In 2008, the
respective company released and produced its first car, the totally electric Roadster. During the
testing of it, the firm is able to achieve 245 miles or 3894 km on a single charge. In 2007,
Eberhard resigned as CEO and president of technology and joined the advisory board of the
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enterprise. It was publicized in 2008 that the person left the firm thought remained a shareholder.
In 2012, the respective venture stopped the manufacturing of Roadster to focus on its new Model
S sedan that was praised by automotive critics of its execution and design.
Prices refer to the value of the goods and services that is set for purchasing of them. In
Tesla, the management of the company set the prices of commodities by analysing the quality,
features and technologies of commodities. The administration also consider the prices of
competitive and substitute products so that they can set prices and gain competitive benefits. The
management of the organisation use premium pricing and market oriented pricing strategies to
sell its goods and services. The firm use this pricing strategies to sells its products and gaining
profits.
Introduction- This content will define about marketing concept like 4P’s marketing that
provides information about product, price, place and promotion. If the company use this concept
then it helps in offering information about goods, pricing strategy, promotional channels and
distribution place.
Main Body- When i was performing in this report, i used effective marketing theory such as 4
P’s of marketing which is crucial for determining the information about the products that are
offered by Tesla in its different product categories like energy vehicles, energy battery and solar
panels etc. With the help of this concept, we get information about the pricing strategy of the
venture which is used by the company to sell its commodities (Perreault, 2018). Promotion
channels offer information about diverse tools of publicity that used by a company to promote its
goods. And different distribution place likes direct selling and online way offer information
about place and way of selling goods. It is an effective theory which helps in offering detailed
information about products to consumers. Due to working in group i make development in my
communication skills because the work is related to each other so we discuss each other about it
which helps me improving my communication.
Reflection
During the time of performing in this project i appropriately used my all skill like
communication, time management, problem solving and many others. My written
communication skills help in writing an effective and better blog so that people and the person
who want get information about Tesla can effectively and briefly aware about its services and
products. With the assistance of this skill, i also appropriately define proving strategies that are
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used by the venture to sell its commodities. Because most of the people, before purchasing
goods, want to know about the prices of goods and services of a company. The information
which mentioned in this blog will help in offering about prices as well products, place and
promotional; tools of organisation that which products are produces by it, which place they are
available to purchase etc. With the help of time management skill, i complete this report in set
time duration and my problem solving skill enable in resolving my complexities which arisen
during performing my work. 4P’s of Marketing concept helped me in providing detailed
information about prices that are used by Tesla to offer their commodities to their target
audiences. With the help of effective management i administrate the entire task and work my
blog in adequate manner and perform them efficiently.
CONCLUSION
This has been concluded form the above information that marketing is an effective activity
of selling, buying and publishing the products and services of a company. By using effective
marketing fundamentals a business venture can get information about the impact of atmospheric
components and determining the level of competition in appropriate manner. Appropriate tools
and techniques also assist in offering information about business environment in which the
venture operating its business.
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REFERENCES
Books and Journals
Chaffey, D. and Ellis-Chadwick, F., 2019. Digital marketing. Pearson UK.
Deepak, R.K.A. and Jeyakumar, S., 2019. Marketing management. Educreation Publishing.
Visser, M., Sikkenga, B. and Berry, M., 2019. Digital Marketing Fundamentals: From Strategy
to ROI. Routledge.
Perreault, W.D., 2018. Essentials of marketing. New York: Mc Graw Hill.
Brennan, R., Canning, L. and McDowell, R., 2020. Business-to-business marketing. SAGE
Publications Limited.
Sahaf, M.A., 2019. Strategic marketing: making decisions for strategic advantage. PHI Learning
Pvt. Ltd..
Sumner, D.A., 2018. New California Milk Marketing Regulations Will Not Change Economic
Fundamentals. Choices. 33(4). pp.1-6.
Morrison, A.M., 2018. Marketing and managing tourism destinations. Routledge.
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McKay, G., Hopkinson, P. and Ng, L.H., 2018. Fundamentals of Marketing. Goodfellow
Publishers Limited.
Taylor, C., Lynn, P. and Bartlett, J., 2018. Fundamentals of Nursing: The Art and Science of
Person-Centered Care. Lippincott Williams & Wilkins.
Terech, A., 2018. An Introduction to Marketing and Branding. Generations. 42(1). pp.45-49.
Online
History of Tesla. 2020. [Online]. Available Through: <
https://www.thestreet.com/technology/history-of-tesla-15088992>.
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