Analysis of Marketing Fundamentals for Tesla Inc: A Detailed Report

This report provides a comprehensive analysis of marketing fundamentals using Tesla Inc. as a case study. It covers the processes and stages of marketing, including production, product, sales, and marketing orientations, and examines the critical role of the marketing mix (product, price, promotion, place, physical evidence, people, and process) in Tesla's marketing strategy. Additionally, the report explores stakeholder engagement and its impact on Tesla's marketing activities, highlighting how the company integrates stakeholder interests into its overall marketing efforts. The analysis aims to provide a detailed understanding of how Tesla leverages marketing principles to achieve its business objectives and maintain a competitive edge in the electric vehicle and clean energy market. Desklib provides access to this and other solved assignments.

Marketing fundamentals

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................2
Processes and stages of marketing including the role of the marketing mix..............................2
Stakeholder engagement and their impact on the marketing activities of an organisation.........7
CONCLUSION ...............................................................................................................................8
REFERENCES..............................................................................................................................10

INTRODUCTION
Marketing is define as a process which creates, communicates, exchanges and delivery that
provide value for clients, customers, society and partners. This mainly define as exchange
process which mainly satisfy wants and need of customers. It is also management process which
is responsible for identifying, anticipate and satisfy customer requirements which leads increase
in profitability for business. The marketing concept which proposes objectives of organisation
which anticipate the wants and needs of potential consumers which satisfy consumers more
effective and efficient manner. (Andrews,and Shimp, 2017)There are two major segments of
marketing such as Business to Business and Business to consumers marketing. A marketing mix
is foundational tool which is used to guide decision making process in marketing. This represents
basic tool and technique that marketers which use to bring their services or products to market
segment. There are 7P’s in marketing mix such as product, price,promotion, place, physical
evidence, people, process. In addition there are 4C’s which modern marketing mix model such as
consumer, cost, communication and convenience. There are four stages of marketing such as
product, production, sales and marketing orientation. Marketing process consists of four
elements such as strategic marketing analysis, marketing mix planning, marketing
implementation and control of marketing. Aim of marketing is profit for organisation which also
meets customers satisfaction in convenient. Stakeholder engagement is process by which
company includes people who affects the decision which is make by managers which influence
the implementation of all decisions, which influence the organisation.
In this report it consist of Tesla Inc, which is an American clean energy and electric vehicle
which have headquartered in Palo Alto, California. This organisation includes products
electric cars, solar roof tiles and solar panels and also related products. This is an
automotive, energy storage and production industry.
This report covers stages and processes of marketing which involves role of marketing mix.
In addition, there is stakeholder engagement and their impact on activities of marketing of
company.
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MAIN BODY
Processes and stages of marketing including the role of the marketing mix.
Marketing is the process by which marketer attract new customers towards the their
product and services. There are various functions of marketing such as research, promotion,
sale,distribution of product and services. The marketing helps the organization to gain proper
knowledge about the competition in the market (Baines, Fill, Rosengren, and Antonetti, 2017)
and it also increase they level of profit in the company. The study of marketing helps in
understanding the needs and wants of target market from the company. To understand various
stages of marketing below is the detail explanation of it in the context of Tesla:
Stages of Marketing: There are various steps of marketing that helps the organization in better
planning and understanding of the market. Stages of marketing ensures that company have
effective plan and strategy by which they can gain competitive advantages. In the context of
Tesla the company deals with huge market and various products, marketing stages helps the
company to analyse all the factors and opportunity for the organization. Proper arrangement of
resources helps the company to gain effective productivity and profit. There are various stages of
marketing that help the respective company in order to gain competitive advantages.
 Production orientation: This is the first stage that Tesla can use to make marketing
stages for the company. The product orientation focus on increasing the production of
the company. Better production helps the organisation to increase the profit and improve
the performance of the company. In involve all the research that helps the organization
to understand which factor of the company is more profitable and which are not. In the
context of Tesla production orientation helps the company to improve current
production of the company and analyse how they can meet the needs and wants of
customer in order to gain their (Bhatia, 2019) loyalty for the brand. Better production
improve the quality of product offers by the Tesla to the company. It also increase the
profitability with better production. Tesla can train their employees in order to make
them more productive in order to increase quality of their product and services.
Employees of the Tesla can help the company to improve the production process of the
company also it could give better experience to their consumers. Thus, production
orientation helps Tesla to increase the productivity and control the cost of production. It
also help them to increase sale volume by better production of the product and services.
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 Product orientation: It refers to the quality of product and services provided by the
company, the product orientation refers to the analyse that the product provided by the
company is profitable of not. The product of the company is one of the most important
factor that ensure the growth of the organization. The product orientation companies
concentrate on increasing the quality of product they offer in the market it help them to
gain customer loyalty and brand image of the company. The organization focused on
increasing the quality of the product to generate sale in the market and increase the level
of profitability within the organisation. In the context of Tesla, company focused on
better quality of product they offer to their customers it helps them to increase revenue
and sale in the organisation. (Brennan Canning, and McDowell, 2020)The mangers of
Tesla thinks that good quality products sell themselves in the market. Customers gets
attracted towards the better product and services and it could help the company in better
production and provide quality products to the customers. The product orientation
department of the company concentrate on better quality of product and services, it also
help them to increase their sell in the market and increase customers base.
 Sales orientation: It refers to the better promotion of product and services in the
market. The better promotion helps the marketer to increase the sale of the product and
services. The companies focus on the making high level of sales so that they can gain
high level of the margin in the market. The main motive of sales orientation is to make
high level of the sales so that it can increase level of revenues in the organisation. In the
context of Tesla, the company use various marketing strategy by which they increase the
volume of their sales and it also help the (Chaffey, and Smith, 2017) business to gain
high level of profit margins form the sale. They offers products at low cost and it help
them to gain more competitive advantages and increase the sale of the company. Thus,
the sale volume of the company is high and they also use various strategy to increase
their sales and profitability. Increasing sell of the company also helps them to provide
more profit in the market. Tesla also use many promotion tools by which they can gain
more competitive advantages and increase the sale of the company.
 Marketing orientation: In marketing orientation company analyse the needs and wants
of the customers so that they can provide more product and services according to the
demand of the customers. The main motive of company is to make their customers
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satisfy with the offering of the company. In the context of Tesla, company use market
research in order to make their customers happy with their products in the market. They
also use various research tools by which they can gain more profit in the market. The
company make their services customers oriented so that they can gain more profit and
customer satisfaction. There are various stages of marketing orientation that company
follow in order to know about the choice and (Chaffey, 2017) preferences of their
customers. It is also beneficial to gain the locality of the customers in the market. Thus
marketing orientation helps Tesla to understand the needs and wants of the customers it
also increase the level of customer base in the company.
 Create marketing strategy: It is an most important part of the marketing research,
making perfect strategy is not an easy task for the company. The organization focus on
various strategies that help them to increase the level of sales and profitability of the
company. Marketing strategy helps the company to analyse the market competition and
also helps in proper understanding to market needs. In the context of Tesla, organization
makes various strategy for enhancing their sale and profitability in the market. Tesla
analyse the marked demand and make strategy accordingly. There are various factors
that have an impact on the performance of the company; creating marketing strategy
helps the company to deal with those factors. Thus, Tesla can use various marketing
strategy to handle all the external factors of the company.
Role of Marketing Mix:
Marketing mix:
It refers to the set of marketing tools that company use to achieve its marketing objective
in target market. marketing mix helps company analyse and prepare the goods and services
according to the need of customers and target market. it helps organisation to achieve is its
objectives and goals it is also profitable for the organisation to set all the marketing tools
accordingly. In the context of Tesla the marketing mix of respective organisation refers to the
various elements of marketing mix product, price, place, promotion. Marketing mix play
important role in the growth and success of organisation. it is also increase the customer base
which is more profitable for the company below is detail explanations of marketing mix in the
context of Tesla(Cornwell, 2020)(Deepak, and Jeyakumar, 2019).
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Product: It is most important element of marketing mix in every business product play
important role. Product refers to the element which company offers to their customers in tangible
or intangible way. product could be tangible are intangible according to the company offering to
their customers. organization gain margins by selling product and services in the market
according to the needs and wants of the customers. without product business cannot run and
effective business makes its product and services in most effective way so that customers get
satisfaction and proper use of these product and services. in the context of Tesla company
provide various product to their customers in order to gain more profit and increase their sales
volume. the main product of Tesla is they provide electrical cars to their customers and
sustainable products. that build brand image of organisation in industry and also attract more
customers towards the brand. Tesla provide cars in three models those models are model X
model 3 each and every car of Tesla have a powerful engine that goes from 0 to 60 mph within
only 3 seconds. but company not only provide Electricals vehicles but they also provide limited
edition of lifestyle products for their customers. in 2018 Tesla and produce wireless smart phone
charges in Eid I cards Surf boards shirts hoodies caps as well. they always focus on providing
unique products to the customers and it make the product of Tesla more unique and innovative in
the market.
Price: It refers to the cost of product and services provide in the market. the price of product
refers to the its quality and quantity it also explain how much a customer can pay for a particular
product or service. various product (Elshiewy, Guhl, and Boztug, 2017) have different prices
according to the place, situation and time. price of product change accordingly and innovation in
product also change their price. in the context of Tesla after making product and introducing it in
market company have to select a particular price that will be accepted among their target market
of the company. the prices is always negotiable for the customers but Tesla always shock people
with new technology and innovation in their product and services. as always focus on inventing
new services and innovative products for their customer. it is a premium experience and
customer cannot find the same experience from other brands. organisation is always focused on
making sustainable product that helps the country and its citizen to analyse importance of
environment and sustainable products. Tesla set the price of its products according to the target
market there have a different price according to different car. and water the first model of Tesla
EV certain model as at a price tag of $71000 other models also caused between $7000 to
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$152000 but with the hybrid prices the demand of this cars as not describe in the market brand is
use eco friendly concept that have an impact on the target audience and it increase its cells in the
market.
Place: It refers to the positioning of product and services in the market where customers can see
and purchase the product. company analyse target market for their product make effective
product strategy to distribute the product in target market. it is one of the most difficult task for
the company to select right target market and target customers for their product and services.
company analyse target market and the competitor In the target markets where product could be
sale to the customers. it is very important for organisation to ensure that their product and
services visible and available among the all(Grubor, and Jakša, 2018) customers and target
groups. in the context of Tesla the placement and distribution strategy of company is very unique
and different from others. the Tesla company doesn’t have any dealership with other partners to
sell their cars. they use online platform for the promotion of their cars. company own stores in
some of specific areas in the country. the car of Tesla are not negotiable and for the test drive of
their cars customer have to deposit $5000 first and after they get delivery it is because of
company does not have high range of products in there company compared to other auto
mobiles. Company focused on providing best services and sustainable environment to the
customers. like the products are premium the distribution channel of the companies also
premium as well. Tesla used and very unique supply and distribution technique to attract more
customers in the brand and increase the level of sustainability and eco friendly cars in the
country.
Promotion: It is one of the most important factor of marketing without promotion customer
cannot be aware about the product and services offered by the company. the main purpose of
promotion technique is to give a proper information about Innovation and new product in the
market. promotion tool of marketing mix helps in providing the information to customers and
increase the sale of the company. Different companies use various promotional tools such as
online platforms, advertising, through the newspapers, (Perreault, 2018) TV channels, etc. In the
context of Tesla not use any direct promotion marketing media for promoting the product and
cars to the customers. because company never invested in promotional activities for their car but
the uniqueness of cars and innovation of Tesla make huge impact on the mind of customers. the
company surprisingly got coverage from margins and word of mouth. Tesla can use many
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promotional tools in the future for the better success and growth of the company. it could help
the company to increase a profit and sales in the market there are many products and services of
the company needs to promote in market for better sales and profitability of the company.
Thus, the marketing mix plays an important role for the respective organisation, they use their
marketing mix tool as an strategic element to improve the market of company and increase its
sales. Tesla use marketing mix as an innovative ideas and information about the company so that
they can attract more customers and gain profit margin. innovativeness of product helps the
company to grow in the market and sustainability(Harris, 2017) a product increases its customer.
base Tesla used in non-negotiable prices for their cars because of the product of companies
unique and other cannot copy it.
Stakeholder engagement and their impact on the marketing activities of an organisation.
Stakeholder engagement
It is a process by which companies communicate with their stakeholders and Know about
them. it helps the companies to Know about what are their needs and wants from the business.
the organisation needs to know about goals and objective of stakeholders so that they can analyse
their marketing strategies to meet their goals and objectives. stakeholder engagement refers to
the improvement relationship stakeholders and owners of the company stakeholders are the
internal and external groups of people that have any impact on the business directly or indirectly.
stakeholders play an important role in decision making process of organisations it also include
various decision company take in order to (Kapferer, and Bastien, 2017) sustain and retain their
stakeholders within an organisation. below is a very steps by which company can engage their
stakeholders and its impact on marketing activities of the organisation.
Clear concept communication: in order to make organisation grow and successful in the
market it is very important for the company to clearly understand the process of goals and
objective of project within an organisation. all the information needs to be share properly to
every individual that participate in business activities and influence the sale of the company.
the internal and external stakeholders needs to know about every information about project
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and understand the vision of the company it helps the organisation to better growth in the
market and build a brand image within the industry.
Outline the engagement requirement for stakeholders: it is very important to know why the
stakeholder engagement is needed and valuable within an organisation. proper engagement
of stakeholders helps the company to lower the debates in decision making process better
understanding between company and stakeholder make it easier for them to take a right
decision at right time it helps(Keegan, 2017) in developing common goal between
stakeholders and Company and it improve better market condition of the organisation.
Window project around the engagement main project: Main reason project in organisation
fail because stakeholders does not have proper knowledge about the activities and task
acquiring within an organisation. it is difficult for the company to make outlets for every
individual in the organisation. so building project around their engagement help the
company to improve relationship with stakeholder and retain them within the organisation.
Importance of stakeholder engagement
It helps the organisation to clarify the vision and goal to the stakeholders and increased the
probability of the company it enables an organisation to identify what their stakeholders needs
from the company and also understand the relationship they have with organisation the company
to build collaborative partnership in the organisation and improve the Governance of the
company stakeholder engagement also help in better marketing strategies within an organisation
that helps in better communication of Information and (Malhotra, Nunan, DMcKay, Hopkinson
and Ng, 2018)promotion of products. It provides clear vision to the company that helps in better
marketing of product and services within an organization. The stockholder engagement helps in
better planning of resources of the firm also it helps the organization to build an relation with the
stack holders of the organization.
CONCLUSION
It has been concluded from above report as marketing defines as activities which organisation
undertakes for promoting buying or selling of product or services. It involves selling, delivering
and advertising products to end users or other organisation. Marketing use four 4P’s which helps
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in identifying products in successful manner. In addition there are stages of marketing which are
helpful in success of business and role of marketing mix which helps attainment of goals and
objectives of organisation. furthermore, this report also highlights stakeholder engagement which
is define as process which is used by enterprise for engage relevant stakeholder for motive of
attainment of goals and objectives in effective & efficient manner. It is very important for
effective engagement of stakeholder in organisation, which helps in maintaining and creating the
basis of strategy development. Moreover, there is also impact of these stakeholder which have
positively or negatively have impact on organisation. internal stakeholders such as managers and
employees which have direct impact on daily routine activities.
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REFERENCES
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