Principle of Marketing: Analysis of Marketing Environment, Segmentation, Targeting & Positioning, and Marketing Mix for Tesla

This report provides an analysis of the marketing environment, segmentation, targeting & positioning, and marketing mix for Tesla. It includes a brief evaluation and application of STP in context to the electronic car marketing for effective promotion and sale.

Principle of marketing
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Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY ..................................................................................................................................3
Section 1 – Marketing Environment and Planning Process .......................................................3
Section 2 – Segmentation, Targeting & Positioning ..................................................................6
Section 3 – Marketing Mix Analysis..........................................................................................8
CONCLUSION..............................................................................................................................11
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REFERENCES .............................................................................................................................12
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INTRODUCTION
Marketing is the essential business activity which involves the multiple sets of task and
process in context to the creation, communication, delivering and exchanges of the offers for
product promotion and awareness among the customers (Gâdău, 2017). This is incorporating
various strategies and plans for the effective promotion and selling of the products and services
in market with the objective of achieving profitable goals. In order to manage and develop
effective marketing strategies there are the various tools. Tesla, Inc. is the auto-mobile
manufacturing company , which is well known for its electronic vehicles along with this Tesla
current products are solar panels, solar roof tiles and some other related products. This is
American brand, headquarters in Palo Alto, California, United states. This report is involving
the brief analysis of marketing environment and planing process, along with this segmentation,
targeting and positioning is also evaluated. Marketing mix analysed and applied in context to the
goals of selected organisation.
MAIN BODY
Section 1 – Marketing Environment and Planning Process
A)
Components of marketing planing process are are having their own specific importance
in marketing strategies and activities. There are various components of marketing which should
be incorporate in the process of marketing planning to collect essential information related to the
market and all its important factors. Such key components of marketing plan are market research,
target market, competition, market strategies, budget, pricing, branding . All these components
consider under the marketing planing in order select best process, activities and strategies for
marketing goals and objectives (Grandhi, Patwa and Saleem, 2020).
Role and importance of the marketing orientation adaptation
Marketing orientation is very important and play very crucial role in the business
functions of customers analysis and product development according to their need for effective
satisfaction. This involves various task which play very important role in product development
and customer satisfaction. Such as in the electronic car projects of the Tesla, it develop best
products with proper market orientation and innovation approach to file the environment with
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sustainable transport by offering the affordable products as much as possible (Paddison and
Biggins, 2017).
B)
Environment audit
Mecro-environment analysis by PESTEL
PESTEL analysis is one of the essential business tool play very important role in the
different business functions. Such as in context to the marking function it helps to analyse the
external factors of environment which play important role in product development and marketing
process. This is involving the analysis of political, economical, social, technological,
environmental and legal market factors. Below is the brief analysis in context to the Tesla
electronic car (Islam, 2020).
Political- This element of the external environment is incorporating political agenda and
rules which influence the business process. Such as in context to the Tesla electronic vehicles the
U.S. Government political agenda is beneficial for the organisation because that is showing
interest in electronic vehicles and providing all essential support to theses kind of project. This
opportunity is providing the support of investors in innovative electronic car project.
Economical- This element of the external environment is involving factors like
population income, employment which further influencing the demand and supply chain of
electronic vehicle . Such as in relation to the Tesla U.S. Growth rate is slow but the people cars
for electronic car is not stop and they keep buying the cars on credit due to the availability of
several deals like 0% financing. The technological development and innovation is increasing the
opportunity of employment and growth opportunity for Tesla. Company has select the objective
of economical development by offering more employment and increasing their production level.
Social- This is another important factor of external environment which involves the
consideration of customer needs, values, culture and trends. Because this can effect the product
development and selling. In context to the Tesla electronic car, the developing trend and support
of people and market towards the economical and environment sustainability is supporting and
influencing the development of innovative electronic cars as it helps to reduce fuel resources
consumption and pollution (Mody, Suess and Lehto, 2019).
Technological- This is one of the most effecting and influencing element of market in
current days. In market there is the continuous development of new technologies which is best
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opportunity for the organisation to utilize those small techniques for developing new innovative
technology in the form of electronic car.
Environmental- This is involving the various factors of environment and nature such as
resources availability and its conservation law along with environment protection rules. In
context to the Tesla electronic care these factors are opportunity and supporting for the
development of electronic car and in context to the conservation of electricity Tesla is working
on solar battery's which make organisation eco-friendly.
Legal – Legal factors are related to the different policy's and regulation or standards of
market and industry. Which influence the various business activities. Such in context to the Tesla
that is effecting the customer safety and employment management according to which
organisation have to develop their product with safety assurance and employees risk
management (Mende and et. al., 2019).
Micro environmental aspects
In order to manage all business functions well coordinated that is important to make
proper analysis of micro environment and manage it with best strategies and action plans. Such
as in context to the Tesla competitors and their competitive activities are important to analyse in
order to mitigate risk and threat.
 Industry competitor – Some of the most effecting competitors of Tesla are Ford Motors ,
Honda Motor (HMC) and General Motors (GM), Toyota Motor Corp (TM).
 Competitor activities- There are further more competitors of the TESLA which are
performing various competitive activities. Such as some of the traditional car company's
are offering different models of Hybrid gasoline electric care and pure electric vehicles
for example Nissan Leaf is offering some innovative electronic care with multiple
features (Brandt, Wagner and Neumann, 2021). Tesla is having higher status cache
which is not by the other auto-mobile competitors but various companies are keep trying
with activities of electronic care development such as BMW , Jaguar & Land Rover etc.
C)
7Ps of marketing mix and its important in context to the effective marketing planing
Marketing is related to the various elements and factors of the organisation and market
which have to be effectively address by the organisation marketing function team. Marketing
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mix is illustrating the important principles of marketing which helps to attain desire objective by
addressing that. This marketing mix tool is also known as the 7Ps of marketing mix which was
developed by the E. Jerome McCarthy in 1960. that is providing the sequence of marketing
principles which use as framework or tool for marketing planing and strategy development. The
seven principles of marketing is Product is customer focus, price cost focus, promotion
communication focus , place convenience focus , people about caring , process is about proper
coordination , and physical evidence for confirmation (Hisrich and Ramadani, 2018).
Importance in effective marketing planing – Application and development of the
marketing mix by considering all the principles helps to develop effective marketing plan for
selected goals and objectives. Such as in context to the Tesla proper analysis and application of
customers information related to their needs and requirement in the product development and
presentation process helps to affectively proceed to the next step of pricing strategy development
according to the product values customers and organisation profit goal. Initially product and
pricing strategies are develop according to the internal and external factors because they play
important role in the promotion, for making the effective advertisement and promotion content
with proper information and presentation of products along with price which should be attractive
and satisfactory element of the marketing content. Similar to this organisation can effectively
manage their marketing plan with proper consideration and implementation of convenience
place, people caring and services strategies and cost effective process of task management along
with implementation of effective physical evidence which give the confirmation to customers
regarding product and their investment value. By meeting all these marketing criteria plan will
be most successful (Tomczak, Reinecke and Kuss, 2017).
Section 2 – Segmentation, Targeting & Positioning
STP is three step model which helps the organisation to analyse, evaluate there products
and services in order select and communicate with beneficial segment of the specific customers.
This model is use for the segmentation of market according to the specific characteristics in
specific group. From which selected segments of customers get targeted with the marketing
campaigns, then in next to position of the products and services in market organisation make
effective marketing mix strategies which should higher appealing and attractive to the selected
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audience . Below is the brief evaluation and application of STP in context to the electronic care
marketing for effective promotion and sale (Kalverkamp and Raabe, 2018).
Identification of difference between the segmentation of the B2B and B2C market
Business industry is having several types of market factors according to the type of
business and common business and marketing process. There are the two major market
differentiating factor such as in context to which business entities make their marketing plan.
Such as B2B market which deals with selling of products from business to business and another
type of market is B2C which means selling of the products directly to the customers by dealing
with all other characteristics of customers (Jiang and et. al., 2019).
Segmentation of B2B market Segmentation B2C market
That is business retailer partners focused
process. This activities of the
segmentation is done by the analysis and
selection of particular group of the B2B
partners according to the product and
services. This involves the analysis of
three characteristics of B2B market
partners, that is profile, intent and
engagement.
This is consumer focused market
segmentation. In this type of market
segmentation particular segments of
customers are selected by the analysis of
some specific characteristics analysis and
matching of that with product line. The key
characteristics features are behavioural,
geographical, Psychographic and
demographical.
Example Example
Tesla electronic care market is most
selectively B2B model because it
encourage partnership through which
most of the competition is can be reduce.
This market segment is selected by the
profile and engagement opportunity
analysis. Moglix, Panasonic etc. are the
B2B partners of Tesla (Hanna and
Dodge, 2017). In context to the
Tesla is also making best efforts on B2C by
offering best luxury electronic cars to the
higher calls families. The main B2C
segment market of Tesla is higher class and
innovation supporting public.
Psychographic and demographic
Segmentation is prefer by Tesla. In relation
to the higher sale objectives of Tesla
electronic are the target segment is can be
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electronic care higher development and
higher sale organisation can select the
best profit segment of business partners.
middle class family along with higher class
family because this provide opportunity to
increase product development (Lee and
Kotler, 2019).
Targeting of the B2C market
The selected segment of the B2C market for Tesla electronic car, in terms of
characteristics are higher class and middle class people on the basis of demography and
customers who posses higher income values and innovation interest on the basis of
Psychographic Segmentation. After the segmentation targeting of the customers for EV brand
awareness and promotion will done by the aid of effective promotional and advertisement
development and presentation. Which should contain the essential and attractive information of
product luxury features and services, detail price description and brief illustration of electronic
care innovative features. This can be successfully done by social medial, digital, and
promotional campaigns through which each segment of the customer will get satisfied (Foroutan
and Esfidani, 2018).
Explanation of positioning and suggestion for the company in context to effective positioning in
market
Positioning is the process of satisfying customers and make the effective brand value of
the product among target customers by assuring the higher sale. This can effectively done by
effective adjustment, selection and application of marketing mix in context to the specific
segment of customers. Tesla is using mono-segment positioning this done by assuring that
electronic care meet the innovation and environment sustainability needs of the customers by
reducing the use of fuels. Suggestion for the Tesla effective positioning among the new customer
segment is modification of product development process and pricing strategies in order to
effectively satisfy the middle class people. This can be done by implementing more cost
effective development techniques (Dahiya and Gayatri, 2018).
Section 3 – Marketing Mix Analysis
7Ps of marketing mix
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Marketing principles Application in context to electronic Cars
Product
This is the firs important principle of the
marketing mix according to which the products
and services which aims by the company to
sell their customers, have to be customer
centric through modification and development
of products according to the needs and
requirement of target customer (Ike, 2018).
Tesla electronic care new development and
sale project should have to be effectively
developed and featured according to the
specific needs and requirement of the each
selected segment of customers, who are
targeted and attracted by the aid of effective
targeting strategies. In order make effective
position at the market. Such as in context to the
customer segment of higher call company have
to make sure that product should develop with
all essential luxury features. In context to
middle class customers organisation have to
make sure that they are providing best quality
cost effective electronic car and in context to
the innovation and environment friendly
segment company have to make sure that
electronic care should develop with unique and
innovative sustainable features.
Price
This is another important principle of
marketing mix. According to this pricing
strategies such as discount offers, product cost
etc., have to be profitable and customer
satisfactory.
Tesla electronic care pricing strategies should
be effective enough to satisfy all segments of
the customers along with this pricing strategies
have to be profitable which use to meet quality
and features requirements of customers.
Promotion
This is involving the principle related to the
communication and advertisement activities.
According to this principle promotion
strategies should be informative and attractive
Tesla electronic care should effectively
promote in the market with the best and
reputed strategies of advertisement and selling.
Such as informative TV ads with the help of
reputed channels ans celebrity. Attractive and
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enough for the segmented customers. Which
can help the organisation to attain goal. This
involves guarantees, highlighting of product
quality and using the other celebrity brand
name for the promotion products.
innovative campaigns which helps to provide
physical appearance of the electronic care with
brief information of its inventiveness and price.
Place
This principle of the marketing mix is
illustrating that place of product selling and
launch should be convenient enough to
provide easy access for customers without any
difficulties along with assurance of comfort
and attractiveness (El-Omari, 2019).
For the select segment of Tesla electronic car
customers the place of product promotion and
selling is can become more effective with the
help of innovative and automated product
presentation place and easy access facility's .
People
This is another important principle of
marketing mix on the basis of which each and
every stakeholder who are involve in the
business plan, such as employees and
customers, have to supported with proper
facility's and strategies.
Tesla is using one of the best and innovative
techniques of product development, marketing
and customer satisfaction. And this can be
further improve in context to new development
and marketing plan by implementation of more
customer services facilitates and employees
support training along with various other
facility which can make the marketing and
purchasing easy for stakeholders.
Process
In context to the marketing plan process
principle is involving the strategies of effective
control of the marketing activities and task in
order to insure the good customer experience.
Tesla electronic care new product line
promotion and sells is can be effectively
process by the implementation of new
technological method's of marketing and
selling such as online selling, social and digital
medial. With the proper control by the help of
information technology and proper resource's
allocation according to the process need.
Physical evidence In context to the effective physical evidence
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This is another important principle of the
marketing mix according to which customers
should offer with the best evidence of product
and brand value along with the satisfaction of
their investment value. And all theses things is
can be manage by quality product presentation
and grantee, company existence prove and
informative sources.
for the selected segment of customers Tesla
electronic car new products should be offered
with best features, services information,
grantees and online, offline service centre
information and existence in every place of the
segmented market (Kalverkamp and Raabe,
2018).
CONCLUSION
From the above study it has been concluded that marketing is the function which
involves the process of products and services promotion to make higher sale by increasing the
brand awareness. Marketing principles are very essential and supportive part of the marketing
process as it provide the effective structure to the business for marketing functions. But before
the consideration of marketing principles that is important to conduct effective market analysis
by application of PESTEL analysis and STP, which helps to identify and evaluate the key
elements of market which can effect the marketing function and require to involve in that. Such
as in context to the Tesla technology is key external element which encourage to grow and social
interest towards electronic cars is also the influencing micro factor for the company. Company is
having higher opportunity of B2B and B2C segmentation and that is utilizing it in there
marketing strategies along with proper consideration of marketing principles such as 7Ps of
marketing mix (product, price, promotion, place, people, process, and physical evidence). Such
as products are innovative and good, with relevant price strategy, promotion is highly interactive
and informative, peoples are well target and satisfied, process if innovative with reduction of
waste , product uniqueness and facility's are physical evidence.
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