Marketing Functions and Research for Tesla Company

This report provides a brief explanation of marketing functions and research for Tesla Company, including market research tools and techniques, marketing budget, and how Tesla fulfills customer requirements at the marketplace.

Marketing

Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Brief introduction to Tesla Company and details of its marketing functions..............................3
Marketing research for Tesla Company and importance of marketing research.........................5
Marketing budget.........................................................................................................................8
How Tesla research for fulfilment of requirement of different customers at the marketplace....8
Data collection and primary and secondary research for operations of Tesla...........................10
Profit and loss and break even analysis of Tesla using data collection.....................................12
Sampling techniques used by Tesla Company..........................................................................12
Marketing information system and need for this system in competitive world in an efficient
manner.......................................................................................................................................14
CONCLUSION..............................................................................................................................16
REFERENCES..............................................................................................................................17

INTRODUCTION
Marketing is a major activity which promotes sales of different products and services of a
company. The business organisations which are present in the market generally take support of
marketing management to achieve different sales targets (Balducci, 2018). Marketing is
considered as a backbone of a business which is also helpful in achievement of organisational
goals and objectives. In this report a brief explanation of marketing related functions is
performed along with market research tools and techniques. This report contains types of market
research tools for the business in a precise manner. This report also includes a brief overview of
marketing information system for gaining competitive advantage. In this report example of Tesla
Company is taken into consideration for better knowledge of market related operations in global
business environment. Tesla is a multinational car manufacturing company which was founded
in the year 2003 and is headquartered in United States.
MAIN BODY
Brief introduction to Tesla Company and details of its marketing functions
Tesla was founded by Elon Musk in the year 2003 and it performs manufacturing of electric
cars in global market. The company provides different segments related cars to several customers
in order to attract major customers from whole society. In global market company also provides
different charging stations that are present in different locations. The electric charging stations
are present in different countries to provide hybrid car charging solution to different customers.
Tesla earns a good amount of revenue from the marketplace by performing marketing functions
with the help of professional marketing management. Tesla Company incurs a huge investment
on different operations and activities of marketing to achieve different organisational goals. In
the era of stiff competition between different companies it is essential for a business organisation
to take support of precise strategy at the marketplace (Berman, 2018). There are many different
global companies which are present in global market to compete with Tesla so Tesla has to
develop competitive strategy. The marketing functions performed by management of Tesla are
mentioned below:
 Social media advertising- In the era of information and technology many different
companies use social media platform to reach out different customers at the marketplace.
In today’s world fast internet services are spreading in this world on regular basis so it is

essential to use social media platform for advertisement. Tesla advertises for its electric
cars using social media into operations of publicity.
Figure 1Tesla manufacturing plant's inside view, 2021

 Analysis of marketing mix- The major marketing function which is performed by Tesla
Company is to analyse different Ps of marketing. Price is fixed at a reasonable value in
order to attain attraction of different customers. The marketing management of Tesla
chooses best place for the operations of company in different countries to increase profit.
Promotion of Tesla Company is also done with the help of professional advertising
methods in order to provide competitive advantage to the company. For the overall
development of a business it is essential for a business to analyse whole market to
minimise risk associated with several aspects.
 Skilled and trained employees- A business organisation should hire well trained and
skilled workers for a particular marketing job role. As the competition is increasing in the
whole world day by day it is compulsory to deal with several consequences of marketing.
Skilled and trained employees are capable of achieving different organisational targets
which are essential for business growth (Gummesson, 2017). Market of Tesla is mainly
carried by many workers who are well educated to achieve sales targets. Management of
Tesla is also helpful in providing a competitive advantage to the business and also helpful
in development of whole business.
Marketing research for Tesla Company and importance of marketing research
In every business organisation it is essential for marketing management to perform precise
research in order to understand different aspects of market. The consumer behaviour is
understood by a business organisation at the marketplace to determine different perceptions of
customers. A newly established business also performs effective marketing research for
development of a business in a short span of time. Marketing research generally takes a brief
survey related to concerned market for in depth understanding of market. The elements of
marketing research for Tesla are mentioned below:
 Market survey- It is considered as one of the major approach in understanding market in
a precise manner. Market survey is performed in order to know preferences and tastes of
different customers. The companies perform this technique to develop a brief overview of
concerned market. Tesla performs operations in different countries so it is important to
analyse whole market in order to develop new operations.

 Analysis of market- Analysis of whole market is very much necessary to operate
business functions in new or existing market. Companies work at marketplace to satisfy
needs and demand of different customers. The graphical and statistical approach is used
by a business entity to analyse whole or different segments of market. It is important for a
business entity to take support of skilled and trained employees of marketing
management (Kannan, 2017). Tesla has also hired crucial strategic management which is
helpful in development of whole market to achieve organisational objectives. It takes a
very long time to analyse market but with the help of information and technology it is
very much easier to perform analysis.
 Strategy for research- Marketing research is not an easy task for management so there is
a need of crucial strategy. The management of a company mainly adopts different market
research techniques to develop precise strategy. Tesla organises regular meetings of
different departments to formulate a precise strategy for the operations. In the era of stiff
competition between different companies it is compulsory to perform marketing analysis
with support of top level management.
Figure 2 marketing research elements, 2021

Importance of market research
The importance of market research for Tesla Company is mentioned below:
 Competitive advantage- The competition for Tesla is present in a major sense in global
market and with the help of marketing research company achieves competitive
advantage. Competency related edge is achieved by market research in a precise manner
by strategic management present at Tesla. Company conducts regular operations related
to market research for gaining profit related advantage at the marketplace.
 Positive customer feedback- Customer feedback is considered as major element which
is helpful in providing different experience to business organisations. The market
research is helpful in providing positive feedback from different customers which is
essential to develop a business. Tesla receives maximum positive feedbacks from several
customers which is beneficial for overall development of business.
 Sales target achievement- Every business organisation formulates different sales targets
in the starting of financial year. The sales targets are achieved with the help of market
research that is performed by marketing management of the company. Tesla achieves
sales targets including surplus with the help of marketing management. Sales related
targets are effectively formulated in business meetings which are organised by
management of Tesla with strategy to achieve different targets.
 Business goals- Most of the companies receives different organisational goals and
objectives with the help of market research. All the major goals are achieved in a short
span of time if a company does market related research in decent manner.
Professionalism in marketing related operations is always the crucial requirement of a
business entity. It is very much important for an organisation to achieve different
business goals at the marketplace for survival. Tesla achieves almost every objective
which is formulated by top level management present in the organisation. Company
develops a comprehensive approach at the marketplace with the help of different
strategies. Human resource management which is present in the company is also
beneficial for the company to achieve different targets. The human resource management
mainly motivates employees and maintains culture of the organisation.

Marketing budget
Particulars 1st year 2nd year 3rd year 4th year
Investment 10000 10000 6000 5000
Initial money 10000 5000 5000 5000
Total 20000 15000 11000 10000
Marketing
outlay
15000 1000 3000 5000
Sales
publicity
2000 2000 1000 1000
Direct selling 4000 3000 1000 1000
Promotion 4000 1000 5000 2000
Total 25000 7000 10000 9000
How Tesla research for fulfilment of requirement of different customers at the marketplace
It is compulsory and first priority of every company to serve demand of different
customers at the marketplace (Ketter, 2018). Major companies are involved in fulfilling demand
of different customers. Tesla fulfils requirements of its customers by using following techniques:
 Quality products and services- Tesla believes in providing quality products which
are reliable for a long time for customers. The company manufactures cars are with
help of professional engineers and technology to gain profitability. Tesla has also
hired professional quality management to handle and maintain precise quality in
products and services. The quality services are performed by Tesla to target taste of
customers and to earn a good amount of revenue at the marketplace. In different
operations of Tesla, quality management is a major aspect which is helpful.
 Customer support- Customer support is the major element which is helpful in
development of a business. Many organisations at the marketplace provide
professional customer support to different customers. With the help of information
and technology customer support is provided by many companies. In the functions
of different companies customer support is essential for positive customer

feedback. Internet related chat support is provided by Tesla to deal with different
types of customer in a quick manner. Different types of people who are present at
the marketplace are having demand and expectations. It is considered as precise
approach which is effective in providing customer solutions to different business
organisations. Tesla also provides 24*7 customer support in order to gain high
efficiency in the revenue related operations. According to different functions and
operations performed by management of Tesla it is compulsory for a company to
provide efficient customer support for longer operations at the marketplace.
 Human resource management- The employee management is an important target
of different operations. Human resource management is considered as backbone of
every organisation which is working at the marketplace. There are many different
companies which keep a general approach of human resource management for
strategic decisions. HR management which is working for Tesla performs many
crucial functions related to employee management. In an organisation performance
management is a crucial function of human resource management to develop
efficiency in different activities (Payne, 2017). There are many different companies
which are present in global economic world which hire different types of
employees of society. Hiring different types of employees in an organisation is
essential for a business organisation and it is major responsibility of HR
management to maintain culture of the organisation.
 Strategic management- The strategic management is a crucial authority which is
present in an organisation for planning. Risk minimisation is also done with the
help of strategic management in an organisation. It is one of the major part of
whole structure of the organisation which is beneficial in development of precise
business plan. There are business organisations which compulsory implement
strategic management for leading the marketplace. Strategic management consists
of different professional employees and leaders to develop a major approach for
business operations. A company which is present at the marketplace also try to
involve a crucial strategy at the starting of a financial year. In the functions of Tesla
strengths also play a major role in management related operations and functions as
it is helpful in providing competency edge to a business firm. In strategic action

plan for Tesla it is the crucial responsibility of management to take support of
different strengths. It is compulsory for Tesla to develop different strengths for
increasing enthusiasm in different employees in a short span of time. In overall
development of a business democratic leadership style will be appropriate for a
business in a precise manner. The mutual decisions of an organisation are
developed with the help of democratic leadership style for Tesla. According to
current situation in global market it is essential for an organisation to implement
several techniques and tools for the management of leadership related activities.
The development of a business entity with the help of various leadership related
theories is also considered as a major issue in most of the organisations
 Leadership- Leadership is considered as one of the major function of organisation
which is performed in order to manage large number of employees. The major
companies at the marketplace like Tesla use democratic leadership style to manage
large number of employees. Different companies at the marketplace use this
approach because it is good in supporting a business in its leadership functions. As
it involves decision making by employees the decisions which are formulated are
beneficial for organisational development (Payne, 2017). Tesla takes support of
leadership related activities and functions to majorly compete at the marketplace.
The decision making of whole company is developed and facilitated with the help
of major functions of organisation. The business organisations at the marketplace
develop and train different employees in order to gain efficiency in a business.
Employee productivity in a sufficient manner is achieved by different organisations
with the support of leadership functions. Tesla achieves different organisational
targets in a short span of time with presence of good leaders. Autocratic leadership
style is also used in the operations of Tesla in a precise manner in which the market
business decisions are in hand of leader. Tesla uses this approach in many
developed countries to achieve competency edge over other competitors.
Data collection and primary and secondary research for operations of Tesla
Data collection methods are basically of two type’s primary and secondary data collection
methods. These two main sources are used to generate the valuable outcomes which can be

drawn from the above report. In this report both primary and secondary sources of data collection
are used in order to facilitate researcher for the research (Poddubnaya, 2019). In case of this
report investigator wants to collect maximum and precise information about a particular topic.
The data collection methods will be also useful in completion of the whole research in short span
of time. The primary way of collecting data include questionnaire which will be used by the
researcher for identifying particular information in an appropriate manner. In this report
secondary sources of data collection are books, journals and articles which will help in
identification of different literature reviews for Tesla’s business development. It was essential for
researcher to use both techniques of data collection in order to gain effectiveness in research
results in research for Tesla use data collection method with definite objectives to achieve data
techniques with effectiveness at marketplace. The advantages of data collection methods for
Tesla are mentioned below:
 Graphical representation- Data collection methods are effective in graphical
representation which helps a business to develop different marketing related aspects. An
organisation must understand value of graphical representation for analysis of whole data.
Major companies at the marketplace take assistance of graphical representation for
comparison of data techniques for business development. Tesla also uses graphical
representation with the help of strategic management to perform different comparisons at
marketplace.
 Calculations for future business development- For the future development of business
it is essential for management of Tesla to develop effective data collection methods.
Various companies perform effective research at the marketplace with the help of
different data collection methods (Wirth, 2018). A business organisation mainly deals
with several consequences and in order to minimise risk associated with the business it is
compulsory for a business to take support of data collection methods.
 Analysis of market- It is important for a business to analyse whole market situation in a
precise manner to achieve aim and targets. Data collection methods which are used by
several business organisations at the marketplace. In this competitive era it is essential to
take support of professional techniques of data collection (Rust, 2020). Tesla performs a
precise analysis of whole market with the help of professional strategic management.

 Risk minimisation- The risk associated with different operations of a business is
essential to be maintained with the help of different data collection techniques. Major
business organisations like Tesla minimise risk associated with business by taking
support of different data development related techniques. It is compulsory for a business
to minimise risk associated with the business in a crucial manner in order to gain
competitive advantage at the marketplace.
Profit and loss and break even analysis of Tesla using data collection
2020 2021 2022 2023 2024 2025
Turnover (25 per unit) 189,711.00 199,196.55 209,156.38 219,614.20 230,594.91 242,124.65
Less cost of sales:
Material Cost (3 per unit) 42,597.00 43,874.91 45,191.16 46,546.89 47,943.30 49,381.60
Production Cost (2 per
unit) 15,231.00 15,687.93 16,158.57 16,643.32 17,142.62 17,656.90
Labor Cost (6 per unit) 50,758.00 52,280.74 53,849.16 55,464.64 57,128.58 58,842.43
108,586.00
Gross profit (14 per unit) 81,125.00 87,352.97 93,957.49 100,959.34 108,380.41 116,243.72
Less Expenses:
Administrative expenses 13,751.00 14,026.02 14,306.54 14,592.67 14,884.52 15,182.22
Other operating overheads 22,374.00 22,821.48 23,277.91 23,743.47 24,218.34 24,702.70
Interest 1,943.00 1,981.86 2,021.50 2,061.93 2,103.17 2,145.23
Total Overheads 38,068.00
Profit/(loss) for the
financial year 43,057.00 48,523.61 54,351.54 60,561.28 67,174.38 74,213.57
Break even 2,719 2,774 2,829 2,886 2,943 3,002
Sampling techniques used by Tesla Company
In preparation of a research report of Tesla it is essential for a user to choose appropriate way
of sampling in order to lead in research process. In the sampling and various different operations

there is a major role played by selection criteria (Quach, and et. al., 2020). In the field of
sampling there are mainly two types of researches like probability and non probability sampling.
It is essential for a researcher to look for appropriate sampling technique in order to increase
efficiency of research. In conducting a research it is essential for a researcher to use appropriate
data collection methods in order to collect quality data. There are several sampling techniques
available to Tesla for creating an effective market research. Tesla Company is present at the
marketplace to serve different customers with help of selecting appropriate research technique.
The different sampling techniques available to Tesla are mentioned below:
 Simple random sampling- In this technique of sampling there are high chances of
selection of every member from given population. The sample of a population is taken
into consideration in this approach and there is equal chance selection of every member.
Frame related to sampling in this technique must include whole population which is
available for research. Tools like random number generator are present in this technique
for development of market research. If Tesla wants to perform this sample technique at
the marketplace it can take random sample of 100 employees. Then assign a unique
number to major employee in the database range of 1 to 1000 and then it must use a
random number generator to select the 100 numbers.
 Systematic sampling- Simple random technique of sampling is very much similar to
systematic sampling which is very beneficial for Tesla. The time consumption is very low
in this approach and is also easy to conduct for management of Tesla. In this technique of
sampling technique each member of population is mentioned with a unique number and
then the individuals are selected on regular intervals (Salmon, 2018). All the employees
are listed in alphabetical order in this technique and first 10 numbers are pointed out and
a starting point for example 6 is chosen. Starting from number 6 every 10th person is
selected by the researcher in a precise manner to develop effective research. In this
sampling technique there is no invisible pattern available in the list. In organisational
context this approach takes employees with the form of seniority in a business structure.
Top level management which is present in the organisation is considered as effective in
marketing related aspects related to research.

 Startified sampling- This technique consists of dividing population into different sub
populations that are different in nature. In the research process this technique is helpful in
drawing exact and accurate calculations at the marketplace. In this technique of sampling
subgroup is considered as most important part in achieving business objectives. The
subgroups which are considered in this approach are known as strata which helpful in
creating subgroups. When whole population is given in the research process it is essential
to divide population into subgroups. If Tesla has 800 female employees and male 100
employees in quality management then the researcher must consider that sample reflects
the gender balance in the organisation so the basis of selection will be gender.
 Cluster sampling- This approach is beneficial in dividing population into two different
groups but each subgroup must have similar characteristics like whole group. In cluster
sampling entire subgroup is selected instead of selecting individuals. Clusters are large in
size in this technique to develop market research objectives in a precise manner.
Marketing information system and need for this system in competitive world in an efficient
manner
Marketing information system is considered as a major approach and tool used by many
different organisations which is helpful in marketing operations. The decision making in
marketing is facilitated by marketing information system in a precise manner. Many global
companies like Tesla use this approach for business development and gaining efficiency in
business operations. There are different companies which recommend use of this technique in
order to deal with several consequences of marketing (Schultz, 2020). Marketing information
system is helpful for different international companies which are performing operations in global
market. Tesla also takes support of marketing information system in different marketing related
operations to marketing.
The marketing information system is a technique in which marketing data is formally
gathered, stored, analysed and distributed to managers in accordance with their informational
needs on a regular basis. Business organisations in international market achieve different market
related elements in a gathered manner with help of this technique. In major advertisement related
functions of a company the marketing information system play an important role. The data of
different customer is stored in using professional software for crucial marketing operations.

Major companies also formulate different organisational targets at the starting of financial year
and achieve them with the help of marketing information system. It is important for a business
organisation to involve role of information and technology to continue different operations at the
marketplace (Van Esch, 2019). Companies are involved in hiring skilled and trained employees
for achieving accuracy in different operations. The marketing information system mainly deals
with data related aspects to serve different customers in a precise manner. Accuracy is achieved
with the help of different information and technology related functions performed in Tesla. Data
is stored on different servers for timely usage. Tesla also takes assistance of different IT
professional for performing cloud computing in the activities. Data privacy issue also arise in
fewer amounts which is helpful for increasing trust of customers towards the business (Wang,
2021).
Figure 3Marketing information system, 2021

CONCLUSION
The above stated report it concludes that marketing is supportive for a business in providing
effective solutions for a business to perform major operations. This report concludes that
marketing management also performs market research for development of business. The
marketing information system is a technology related tool which is helpful for a business to
achieve different development related to business functioning. This report concludes that in era
of stiff competition between different companies it is necessary for Tesla to choose appropriate
sampling technique. This report also concludes the importance of professional marketing
management for a business organisation in order to manage large number of employees.

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