Marketing Fundamentals: Tesla Inc. Background and Products

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
1