Principles and Practices of Marketing: Tesla's SOSTAC Plan for Jamaica

This presentation outlines a marketing plan for Tesla's expansion into the Jamaican market, following the SOSTAC framework. It begins with a situation analysis, examining the current market landscape and Tesla's position. The objectives focus on sales, service, and brand building. The strategy involves targeting the Jamaican market with electric vehicles. Tactics include utilizing the 7Ps of the marketing mix (product, place, price, promotion, process, people, and physical evidence). Action steps detail the implementation, while control mechanisms ensure the plan's effectiveness. The conclusion highlights the potential benefits for Tesla in Jamaica, given the increasing demand for electric vehicles and the absence of competitors in this sector. The presentation uses Harvard referencing.

PRINCIPLES AND PRACTICES OF
MARKETING

Table of content
◦ INTRODUCTION
◦ Situation Analysis
◦ Objectives
◦ Strategy
◦ Tactics
◦ Action
◦ Control
◦ CONCLUSION
◦ REFERENCES

INTRODUCTION
◦ Marketing is considered as the toughest business process or function for all profit and non profit
business. This process is widest process as compared to others which includes product design, research,
development, promotion and customer service . Tesla is an American electric vehicle and clean energy
based company founded by Martin Eberhard and Marc Trapenning as Tesla motors in 2003

Situation Analysis
◦ Situation Analysis first stage of implementation is planning the framework of auto-mobile marketing. In
this situation the overview of the company is addressed like what the company is, how will it interact and
trade, and who will be going to run this company and the which factor the internal or external can impact
the business(Ahmad, N., 2018) .

Objectives
◦ The second step of the auto-mobile marketing planning framework should have a focus on the objectives
of companies strategies (Ike, 2018). As Tesla is planning to built its industry in the Jamaica it should be
clear about the objectives it includes the 5s goals sell, serve, speak, save and sizzle

Strategy
◦ Strategy refers for how a organisation plan to achieve their terms of completing objectives set. This section should
also identify which type of market is the company is planning to target. As Tesla is auto-mobile company and
planning to build their auto-mobile industry in Jamaica so should be aware of all the things (D'Amore, 2017

Tactics
◦ Tactics are used to cover the particular tools which are the objects of your auto-mobile marketing plan.
The strategic section also plays the role in finding the segments of the market in which the organisation
is planning to aim. It is necessary for the Tesla to find the objectives of their company (Dileep, 2017).
For this process 7Ps of the marketing mix sounds useful. Tesla marketing mix includes product, price,
promotion, process, people and physical evidence.

Continue…
◦ Product- Tesla makes fully electric vehicles and energy generation and storage system. The company
should be aware as the people are using fuel served vehicles will it be able to serve them electronic
vehicle.
◦ Place- Tesla sales its vehicles by its own sales and the service network. As its deciding to build its
industry in Jamaica will it be worth for it and can it will be able to compete the companies who are still
doing there business.
◦ Price – The price strategy of Tesla are premium as it is producing electronic vehicles which are expensive
to purchase.

Action
◦ This is the basic point as all points are done and the company is all over ready then its time to take action
(Kumar, 2018). Action means to what the company is going to do, when the company will going to start
the industry, what are the resources of the company.
Element of the
Promotional mix
Visual evidence Analysis Applied taught
models/ theories
Price premium This is expensive and
it will be purchased by
rich people
for this pricing
strategy will be made
by Tesla in oreder to
attract custoemers.
Place Jamaica This is a place in
which most of the
customer will visit this
place.
For place
communication model
will be used
Product Fully electric vehicles this product will be
suitable for the
company
for this company
could focus on
providing high quality
of products.

Control
◦ It is the final stage of planning how an organisation will monitor and measure that is they are able to
reach the strategies and objects they used and planned (Dominique-Ferreira, 2020). As Tesla has all its
resources and ideas even they have a proper format of what will they going through

CONCLUSION
◦ From the above discussion it can be concluded that the market of Jamaica is beneficial for Tesla as in the
market of Jamaica there is not any company who manufactures electronic vehicles and the Tesla will get
so much good response from the customers as the fuel is ending day by day and all people want a
pollution and fuel free vehicle.

REFERENCES
◦ Ike, L., 2018. Marketing: Traditional, Digital and Integrated. Xlibris Corporation.
◦ D'Amore, C. and Chawla, L., 2017. Many Children in the Woods: Applying Principles of Community-
Based Social Marketing to a Family Nature Club. Ecopsychology, 9(4), pp.232-240.
◦ Dileep, M.R. and Mathew, V., 2017. Marketing of tourism industry: enhancing services through
marketing mix elements. In Strategic Marketing Management and Tactics in the Service Industry (pp.
304-329). IGI Global.