This document examines the marketing strategies of Tesla Inc. and identifies key principles of sustainable marketing and management practices within the company. It discusses the company's response to these principles and evaluates the success of its sustainable marketing strategy.
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Running head: SUSTAINABLE MARKETING MANAGEMENT SUSTAINABLE MARKETING MANAGEMENT Name of the Student Name of the University Author Note
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1 SUSTAINABLE MARKETING MANAGEMENT 1.0 Examination of the marketing strategies of the company Tesla Inc. is an automotive organization of American origin that also operates in the energy production based industry. The organization is based in Palo Alto, California. Tesla Motors was established in the year 2003. Tesla specializes in the development of electric cars. The solar manufacturing capabilities of the organization manufacture solar panels. The multiple number of production plants that are developed by Tesla are based Gigafactory 1 in Reno Nevada (Tesla.com 2019). The marketing strategy of Tesla Motors is based on the ways by which the market segments of the organization are developed with respect to the fuel-consciousness of the customers. The market segmentation strategy of the organization has been able to provide major levels of support based on the development of innovative and long-term models of the vehicles (Alayón, Säfsten and Johansson 2017). The major car models that are offered by Tesla Motors in the automobile industry include, Tesla Model S, Model Y, Model 3, Model Y and Tesla Roadster. The marketing mix of the products is able to play a major role in the wats by which the customer segments can be satisfied with the help of products that are based on their needs and demands. Product –The major product mix that has been developed by Tesla Motors is based on the different products of the organization like, Tesla Model S, Model 3, Model Y and Roadster. The products are mainly aimed at the ways by which highest levels of value can be provided to the customers. Tesla Motors has developed its image in the industry based on car models that are offered to the customers. The company focusses on the electric car vehicle sales for the expansion of global operations (Bachev 2016). Place –The distribution channels that have been developed by Tesla Motors are based on the ways by which the products can reach the customers. The different channels
2 SUSTAINABLE MARKETING MANAGEMENT used by the organization include, company-owned galleries and stores, company-owned service centres, official website of the company, charging stations. The management of Tesla has been able to control the distribution process of the organization (Bardos et al. 2016). Promotion –The promotional strategies that have been implemented by Tesla are based on the ways by which the tactics and strategies developed to manage the expectations of customers. The promotional mix of Tesla Motors consists of different activities like, viral marketing, public relations, sales promotions, direct marketing and personal selling. The communication of Tesla Motors with customers is able to develop a major promotional mix. The popularity of Tesla increases with the help of different promotional elements (Chitchyan et al. 2016). Price –The pricing strategy that has been implemented by Tesla Motors for the different car models is termed as premium pricing. The uniqueness of the products and high value that is provided to the customers are considered to be major factors that are able to affecttheoperationsofTeslaMotorsandtheimplementedpricingstrategyaswell (Tesla.com 2019). 2.0 Identification of key principles of sustainable marketing and management practices within the company. Identify six sustainability principles The principles of sustainability are mainly based on the ways by which a particular community is able to ensure that the social, environmental and economic systems are well integrated in nature. The organizations need to implement the six principles based on sustainabilityinordertomaintaintheirprofitableoperationsonalongtermbasis (Geissdoerfer et al. 2017). Maintaining and enhancing the quality of life of the residents – The quality of lifeofthecommunitiesorindividualsaredifferentforthevarious
3 SUSTAINABLE MARKETING MANAGEMENT communities. The different components that are a part of the quality of life related aspects include, education, income, disaster, pollution, legal rights, employment. The organizations need to aim at maintaining the principle in order to develop the operations. Enhancing the local economic vitality – The viability levels of the local economy are considered to be highly essential for the levels of sustainability. These are mainly based on the revenues and taxes, services and infrastructure (Lüdeke-Freund and Dembek 2017). Promoting the intergenerational and social equity – The sustainability of resources and the opportunities of the community are made available to everyone, regardless of the age, gender and ethnicity as well. Maintaining and enhancing the quality of environment – The development of sustainable community is based on the ways by which the organization is able to maintain the quality levels of the environment and also trying to enhance the quality (Muñoz-Torres et al. 2018). Incorporating the levels of mitigation and disaster resilience into actions and decisions – The community is considered to be resilient during any natural disasters that can occur in various countries. The contribution that can be provided by an organization based on the issues faced during this period is a major part of the sustainability strategies (Nabavi, Daniell and Najafi 2017). Development of the consensus and participatory processes – The decision makingprocessthatisimplementedintheorganizationneedtobe participatoryinnature.Thisprincipleisabletoimprovethelevelsof sustainability within the organization. This is able to support the process that is implemented in order to promote the generation of new ideas.
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4 SUSTAINABLE MARKETING MANAGEMENT 3.0Response, by the company, to the identification of sustainable principles The impact of the products that are offered by Tesla Motors is based on high levels of sustainability.TheproductsofTeslaareabletocombinetheaspectsbasedsafety, performance and levels of efficiency. The storage products and energy generation processes of Tesla are able to provide support to the urban as well as rural communities in different countries. The ecosystem of Tesla is able to reduce the levels of environmental impact based on transportation based activities. The different car models of Tesla that have been mentioned earlier are able to affect the ways by which levels of sustainability can be increased (Tesla.com 2019). Tesla Motors has played a major role in the development of sustainable energy in order to reduce the levels of pollution in the country. The levels of negative health impacts can be reduced with the help of proper development of sustainable energy. The development of various car models of Tesla Motors is able to play a central role in the ways by which sustainability principles have been implemented. The levels of safety that can be provided to the consumers are based on the features that are offered by the car models of Tesla Motors (Tesla.com 2019). The development of a sustainable future is also considered to be an important factor that has an impact on the operations of the business. The global manufacturing operations of the organization are developed with respect to the proper reduction of operational impact on the external environment. The global levels of CO2 in external atmosphere are high and the unsustainable trend is able to drive the growth and operations of Tesla Motors. The organization is currently aiming at developing the products or car models in such a manner that is based on the global manufacturing process of Tesla Motors (Tesla.com 2019). The manufacturing facilities that have been developed by Tesla Motors are highly effective and modernised in nature. The effective modernization of Fremont Factory of Tesla Motors is considered to be an important factor that is related to the development efficient manufacturing facilities. The manufacturing plants of Tesla Motors
5 SUSTAINABLE MARKETING MANAGEMENT that are located in Gigafactory 1 and Gigafactory 2 have been built based on the highly modernised technologies (Warner and Hadley 2015). 4.0Evaluation of the success, or otherwise, of the company’s sustainable marketing strategy The sustainability based analysis of Tesla Motors has been able to depict that the sustainable marketing strategy has been able to provide effective support to the organization based on the ways by which different objectives have been fulfilled and manufacturing has been developed. Tesla Motors has been able to reduce the levels of impact that the operations of the organization have on the environment and the lifestyle of the communities that are a part of different countries. The factories that have been developed by Tesla Motors are also able to play a major role in the ways by which efficiency levels of production process can be increased (Ridsdale and Noble 2016). The products and the operations of the organization have been developed in such a manner that is able to affect the ways by which the levels of impact on the communities can be reduced. The car models of the organization are also considered to be highly effective for the levels of sustainability that were required to be developed by the organization in the highly competitive automobile industry. Tesla Motors has gained major levels of success in the industry based on the proper implementation of sustainable operations that are able to support the levels of operations (Sala, Ciuffo and Nijkamp 2015).
6 SUSTAINABLE MARKETING MANAGEMENT Reference list Alayón,C.,Säfsten,K.andJohansson,G.,2017.Conceptualsustainableproduction principlesinpractice:dotheyreflectwhatcompaniesdo?.JournalofCleaner Production,141, pp.693-701. Bachev, H., 2016. A framework for assessing sustainability of farming enterprises.Journal of Applied Economic Sciences (JAES),11(1), pp.24-26. Bardos, R.P., Bone, B.D., Boyle, R., Evans, F., Harries, N.D., Howard, T. and Smith, J.W., 2016. The rationale for simple approaches for sustainability assessment and management in contaminated land practice.Science of the Total Environment,563, pp.755-768. Chitchyan, R., Becker, C., Betz, S., Duboc, L., Penzenstadler, B., Seyff, N. and Venters, C.C., 2016, May. Sustainabilitydesign in requirementsengineering:stateof practice. InProceedingsofthe38thInternationalConferenceonSoftwareEngineering Companion(pp. 533-542). ACM. Geissdoerfer, M., Savaget, P., Bocken, N.M. and Hultink, E.J., 2017. The Circular Economy– A new sustainability paradigm?.Journal of cleaner production,143, pp.757-768. Lüdeke-Freund, F. and Dembek, K., 2017. Sustainable business model research and practice: Emerging field or passing fancy?.Journal of cleaner production,168, pp.1668-1678. Muñoz-Torres, M.J., Fernández-Izquierdo, M.Á., Rivera-Lirio, J.M., Ferrero-Ferrero, I., Escrig-Olmedo, E., Gisbert-Navarro, J.V. and Marullo, M.C., 2018. An assessment tool to integrate sustainability principles into the global supply chain.Sustainability,10(2), p.535. Nabavi, E., Daniell, K.A. and Najafi, H., 2017. Boundary matters: the potential of system dynamics to support sustainability?.Journal of cleaner production,140, pp.312-323.
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