Principles and Practices of Marketing

Principle and Practices of
Marketing

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
TASK 1............................................................................................................................................1
Discussion of concept and knowledge of marketing and overview of company........................1
TASK 2............................................................................................................................................6
Models.........................................................................................................................................6
CONCLUSION .............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Principles of marketing is basically referred as 4Ps of marketing matrix which companies
uses for their marketing strategy. There are generally four principles of marketing which are
product, price as well as promotion which are interconnected as well as work together. Principles
of marketing is also referred as marketing mix of company. Whereas marketing practices is
defined as a task or operations of carrying out marketing activities through a process(Alqahtani
and Uslay2020). This report is based on marketing principles as well as practices of Tesla, which
is an American electric vehicle as well as clean energy based company. As company is dealing in
selling electric cars, battery energy storage from home to grid scale. This report includes about
concept of knowledge of marketing as well as over view of company,models along with its
conclusion.
MAIN BODY
TASK 1
Discussion of concept and knowledge of marketing and overview of company.
Overview of company:
Tesla Inc, is an American electric vehicle as well as clean energy company based in Palo
Alto, California. Company's selling products includes electric cars, battery energy storage from
home to grid scale, solar panels as well as solar roof tiles and other related products as well as
services( Beirman, 2020). Company is ranked as best selling plug in and battery electric
passenger car manufacturer with a market share of 16% of plug in segment and 23% of electric
segment of sales. Company was founded in July 2003 by Martin Eberhard and Marc Tarpenning
as Tesla Motors. As according Elon Musk motive of Tesla is to help expedite for moving to
sustainable transport as well as energy which is obtained by electric vehicles as well as solar
power. Company began its production of their first car model Roadster in 2009.
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Illustration 1: TESLA' s HEADQUARTER
Marketing:
The idea as well as concept of marketing is large and broader which is to be considered
through proper considerations so that objectives are to be accomplished properly. In this
contemporary or competitive market it is essential to have knowledge about market as well as
principles on basis of which is easy to make decision as well as apply strategies. In terms of
Tesla company is playing a vital role in development of auto mobile sector as company focus on
having technology or advancement of software and hardware (Borders, and Lester 2020). With
increase and rise in competition, it has become more necessary to adapt knowledge as well as
skills of marketing so that goals could be accomplished well.
Marketing mix:
It generally refers to a combination or a set of tactics which are applied by company in
order to promote a brand or company. Through this approach it becomes easy for company to
increase business activities as well as effectiveness in a systematic manner. In order to apply this
method through a large range of information which is required so that it would be easy to make
decisions related to business. This strategical method consists of various elements that are as
follows:
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