Strategic Marketing Management

Strategic marketing management 0
Strategic marketing management
TESLA INC. (Coursework- 1)
Student’s name

Strategic Marketing Management 1
Contents
Introduction................................................................................................................................2
Customer behaviour and decision making.................................................................................2
Marketing Audit.........................................................................................................................3
Porter’s five force model............................................................................................................4
Threats and opportunities...........................................................................................................5
Situational Analysis...................................................................................................................6
Marketing Objectives.................................................................................................................7
Conclusion..................................................................................................................................8

Strategic Marketing Management 2
Introduction
(Source: Tesla, 2013)
Tesla Motors is one of the automobile manufacturing industries. This company was started
for the development of the electric sports car. The Elon Musk as CEO of this former
company has launched Tesla in 2003 (Tesla, 2013). The main purpose of the organisation
was to encourage innovation and ethical values. The main goals of the Tesla Company are to
generate an entire ecosystem, and as manufacture, an ideal set of the energy solution, power
wall, power back and the solar roof are maintained and helps in managing the renewable
energy generation, storage and consumption (Tesla, 2013).
History: Tesla was the first and the foremost car company after since Ford Company in
1956. Tesla car stock has turned as the company, which keeps on innovating out the new
features and the models while other than this, they also capture the imagination of the curious
public’ wants and demands. In this, the main mission of the Tesla Company is to accelerate
the worldwide transactions to sustainable energy. In addition, all this can be achieved by
converting their sustainability mission through innovation (Liu, et al, 2014).

Strategic Marketing Management 3
Customer behaviour and decision making
Tesla customers’ segmentation is the most effective approach, which tries to appeal to
everyone by engaging them in the mass marketing campaign. As the different methods for
better understanding of the profile of the customers in each segment highlight how the
customers are attracted and help in analysing their purchasing power.
Geographic segmentation: In this, the segmentation of customers is done on the basis of
similarities and dissimilarities within and across segments. Tesla applies a geographic
segmentation because of the prices which keep on vary by the regions and Tesla can focus on
marketing to those customers that live in those areas which are having a high price (Farley,
2016).
Demographic segmentation: In demographic segmentation, Tesla employs its overall
resources to only to those people who can afford it. Likewise, for example, Tesla is marketing
their new launch the Roadster S to those males, which belong to the late thirties as they have
a higher income group, which can afford to buy the same. Other than this, they also targeted
the occupation sector, which is having the higher income group both males and females
(Buckholtz, 2014).
Behavioural Segmentation: The behavioural segmentation highlights about the customer's
loyalty. In this behaviour of the customers are judged whether they are hard-core loyal, Or
soft core loyal or lastly or they are switchers. In addition, such behavioural pattern among the
customers points towards their non- routine consumption. Other than this, factors such as
status, long term cost effectiveness, the perception of being environmentally friendly.
Alternatively, whether they are potential buyers, first-time buyers, determined or ambitious
all such factors of the buyers seek the experiential and symbolic meaning behind the purchase
of such luxurious cars.
Psychographic Segmentation: In this, the segmentation is done on the basis of lifestyle,
which further comprises of aspirer, succeeder, explorer and reformers’. Moreover, Tesla main
motive behind this segmentation is to know about the people’s interest, their activities and
see whether they are satisfied with their current cars and what all changes need to be done for
their satisfaction and meeting their interest (Buckholtz, 2014).
Analysis