Marketing Management: Tesla's 4P's Strategy for SALONTA Product Development

Running Head: MARKETING MANAGEMENT
MARKETING MANAGEMENT

MARKETING MANAGEMENT 2
Table of Contents
Survey of marketing environment..............................................................................................2
Company’s marketing strategy for new and existing product development process.............2
Product strategy..................................................................................................................2
Price strategy.......................................................................................................................2
Promotion strategy..............................................................................................................3
Place strategy......................................................................................................................3
Canvas model.........................................................................................................................4
Transforming data into valuable information............................................................................5
Integrate results across business functions.................................................................................6
Ethics in Decision Making.........................................................................................................6
Reference....................................................................................................................................8

MARKETING MANAGEMENT 3
Survey of the marketing environment
Tesla product SALONTA
SALONTA is one going to be a product that will positively contribute to the success of Tesla.
It will support the interior system of electronic vehicles and also it will be used to reduce the
ill-effects of the automobiles on the environment.
Company’s marketing strategy for the new and existing product development process
Tesla has used 4P’s marketing mix strategy to operate its business process in the marketplace.
This marketing mix strategy has been used by the company to consider different factors to
such as product, price, place, and promotion (Aghazadeh, 2015). The said strategy facilitates
the development of the products and also it helps in achieving success. These are discussed
below:
Product strategy
In the current period, Tesla has focused on the quality of products and services to gain more
competitive advantages. Through this strategy, the organization delivers the best quality as
compared to its competitors as it would be effective to attract new and existing consumers. It
could also result in increasing the sustainability of the business in the marketplace
(Aghazadeh, 2015). Apart from this, it is generally believed that price is a significant
component that could directly be affected by the overall productivity of the firm. Hence, the
organization is required to consider it so as to gain higher competitive advantages.
It can be suggested that the organization can use the product differentiation strategy as it will
allow it to make its unique image in the market for its new products (Tesla product
SALONTA). The use of this strategy will enable Tesla to attract the new consumers by
ultimately enabling them to compare its products and services with others, in terms of
different elements named as quality, packing, price, and quantity before taking any buying
decision (Hutchinson, Donnell, Gilmore, and Reid, 2015).