Principles of Marketing Report

Principles of marketing
report.

TABLE OF CONTENT
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
Importance of marketing planning............................................................................................3
PESTEL analysis......................................................................................................................3
Importance of marketing mix....................................................................................................4
TASK 2............................................................................................................................................4
Segmentation:...........................................................................................................................4
Targeting...................................................................................................................................4
Positioning................................................................................................................................4
TASK 3............................................................................................................................................4
Marketing mix in context to Tesla motors................................................................................4
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................5

INTRODUCTION
Electric cars are very popular nowadays as the awareness about sustainability and environmental
degradation are growing rapidly. People wants to buy things that are sources ethically and
sustainably. The things that are providing no or minimal damages to the environment are in
trends and electric cars are one of them (Adie, B.A., 2019.). They are exceptionally good as they
are not producing any type of pollution, they are fast, they do not product carbon footprints, etc.
Their is a less competition in this market as their are limited number of companies that are
providing such type of electrical vehicles. In context to Tesla Inc., they are an American clean
energy and electric vehicle producers. The company was founded by Martin Eberhard and Marc
Tarpenning. The company was incorporated on 1st July 2003. The industry in which company is
serving is of automotive, battery energy storage, solar energy generation. The company has
around 70757 employees and has revenue of approx $31.536 billion. The company has 7
subsidiaries and are serving in more than 35 countries. In this report, the importance of
marketing planning as well as marketing mix is given. Also the analysis of macro environment
factors that can affect the operations and management of the company are given. The report will
also provide segmenting, targeting and positioning strategies of the company. At last the
marketing mix that the company is using is given.
TASK 1
Importance of marketing planning
The marketing planning defines the responsibilities and roles of marketing executive in a way
that can help the company in fulfilling its goals and objectives. The planning emphasis on
creative allocating of marketing resources in the best possible and most economical way. It
involves planning in advance for the various functioning and activities of marketing such as
programme, budgets, policies, campaigns that can help the business in attaining its goals related
to marketing of the offerings (Beals, R.L., 2020.). Today consumers are emotional, confused and
complicated, the company have to make sure that their marketing is powerful and is able to make
the consumer buy the product as the decisions of the consumers nowadays are backed with
subjectivity and not with objectivity.

PESTEL analysis
These are the factors that tells the company about the external marketing environment or the
macro environment of the company.
Political factors: It refers to the factors that helps the company in determining the degree of
interference of government in the industry or in the free market in which the company is going to
operate. These factors are needed to be analysed by the company if they are targeting or entering
any new market. It includes government policies, instability in overseas market, foreign trade
policies, political stability, tax policy, environmental law, labour law, restrictions and so on.
Political factors have a powerful impact on the companies and their business (Chaffey and et. al.,
2019.). The companies that are entering any new market must analyse these factors in order to
make the workings and the marketing strategies of the company according to the current and
anticipated future legislation. In context to Tesla, government is providing support to the electric
vehicles and encouraging people to buy electric vehicle by providing specific tax credit.
Economical factors: These are the factors that are the determinants of the economic
performance of any economy. While entering any new economy the company have to make sure
that they analyse these factors with utmost care. These factors have an impact on the business as
well as on the profitability of the company. In includes economic growth, exchange rates,
inflation, interest rates, disposable income of consumers, etc. In context to Tesla, the electric car
sales have risen as the increment in global economy. It is projected that the world will grow by
3.5 percent with the increase in the sales of electric cars.
Social factors: These are the factors that are related to the society in which the company is
operating. It is important for the company to work according to the culture, norms and rules of
the society. These are the factors that includes the shared attitude and beliefs of the population. It
includes age distribution, population growth, career attitude, health consciousness, etc (Cornwell,
T.B., 2020.). In context to Tesla, they are providing perfect option for those customers who are
looking for eco-friendly products. The population are more and more focused towards
sustainability and increment in the prices of fuel has been an advantage for the company and its
products.
Technological factors: These are the factors that helps the company in getting knowledge about
the prevailing technology in the industry in which the company is going to enter and about the
technology that the competitors already have. It includes upgradation of technology in context of