Electric Vehicle Marketing Strategies
Added on 2020-03-16
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Running head: MARKETING MANGEMENTMarketing managementName of the StudentName of the UniversityAuthor note
1MARKETING MANAGEMENTExecutive summaryThe purpose of this report is to shed light on the fact that how an organization uniquelydesigns a sporty SUV car that can run by the power of electricity. The report further stresseson the innovative style of the organization’s advertising procedure. In this report, it is seenhow an organization can try to build some reputation by starting from a scratch with the helpof innovative ideas and unique marketing strategy.
2MARKETING MANAGEMENTTable of ContentsIntroduction................................................................................................................................3Marketing Objective:.............................................................................................................4Financial Objective:...............................................................................................................5SWOT analysis...........................................................................................................................5Competitor analysis....................................................................................................................6Threat of new entrants............................................................................................................6Bargaining power of the suppliers.........................................................................................6Bargaining power of the buyers.............................................................................................7Threat of substitute.................................................................................................................7Rivalry....................................................................................................................................7Mission.......................................................................................................................................7Marketing mix strategy:.............................................................................................................8Product:..............................................................................................................................8Price:..................................................................................................................................9Place:................................................................................................................................10Promotion:........................................................................................................................10Implementation plan.................................................................................................................11Action plan...............................................................................................................................11Conclusion................................................................................................................................12References................................................................................................................................13
3MARKETING MANAGEMENTIntroductionThe purpose of this report is to analyze how a sporty SUV car that is powered by onlyelectricity would be appropriate for this market in today’s world. It is seen that in these daysthe vehicles that run by electricity has a good market due to various reasons. It is seen that thecontinuous extraction of natural resources of earth will leave humankind with nothing withina couple of decades and for that, it is very important to commercialize the electricallypowered vehicles in a rapid manner for the benefit of all. In this report, an appropriatemarketing plan for this kind of a car is provided and the advantages and disadvantages oflaunching this type of vehicles are mentioned in this report. As it is seen in today’s market the decreasing natural resources has becoming aserious issue day by day, man’s tendency to depend on the electrically charged vehicles isseen as a current trend. It is seen that manufacturing vehicles run by the power of electricityis a very inexpensive process and it is due to the increase in both gas prices and ecologicalawareness, pure electric cars have become increasingly popular throughout the United States.In today’s market, it is not common to see hybrids and electric cars on the road. With theModel S, the company is the one of the first companies to market a fully electric luxury sedan(Tyagi, 2013). According to the U.S. Census Bureau, the per capita income of the averageAmerican citizen has slowly risen in the past four years from $28,374 to $28,829, creating aseemingly favourable market for luxury items like the Model S. In addition, governmentsubsidies on electric vehicles have allowed the organization to retain more of their profits asthey continue selling cars. However, in places like Texas, the company has been met withchallenges hindering their sales and performance. New legislation has been able to stop Teslafrom legally selling as well as advertise. Overall, the government subsides, rising
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