Detailed Report: Marketing Functions and Tesla's Performance

This report provides a comprehensive analysis of Tesla's marketing strategies and functions. It begins with an introduction to the importance of marketing in business, using Tesla as a case study. The report then delves into the detailed roles and responsibilities of marketing functions, including market research, customer satisfaction, budget management, and strategy development. It examines how these functions contribute to the overall organizational context. Furthermore, the report evaluates the marketing mix and formulates a precise marketing plan for Tesla, covering vision, mission, goals, objectives, and strategies related to product, price, promotion, physical evidence, people, and processes. The report also includes an STP framework analysis, concluding with a summary of the key findings and recommendations.

Marketing essentials

Contents
Contents...........................................................................................................................................2
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1. Detailed identification and evaluation of the roles and responsibilities of the marketing
functions in general......................................................................................................................1
P2. Examination of the roles and responsibilities of marketing function to wider organisation
context of the firm that has been mentioned above.....................................................................3
TASK 2- In PPT..............................................................................................................................4
P3. Evaluation of the concept of marketing mix and its related aspects that various companies
use so as to compare them with the company that has been mentioned above...........................4
TASK 3............................................................................................................................................4
P4. Formulating a precise plan of marketing for the above mentioned company.......................4
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Marketing is one of the most essential factors in each and every business firm that is
operational in the market as it helps the company to gain advantage over other competitors by
working in an effective and efficient manner so that it can increase the value of the enterprise in
the long run (Breibauer, Brücker and Jäger, 2018). Tesla is a firm that is incorporated in 2003
and is geographically located in United States which deals in providing clean energy and electric
vehicles to the society and thus it has captured a larger share in the market as compared to its
other rivals that are operational in the similar market. In this report there is a brief examination of
the roles and responsibilities of the functions of management in separate and in overall
organisational context. Apart from that this report also includes formulation and evaluation of an
appropriate, accurate, and precise marketing plan for the above mentioned firm so that it can help
the company to grow and prosper in the market as a whole by improving its current positioning
in the industry in which it is operating.
TASK 1
P1. Detailed identification and evaluation of the roles and responsibilities of the marketing
functions in general
There are a number of different functions of marketing that contributes in the working of the
firm and for a company like Tesla which is operating in the market on such a huge scale it
becomes even much more important for them to analyse and examine each and every aspect of
the marketing function so that it can add value to the organisation in the long term. There are
different functions of marketing that starts from buying of raw materials to selling of the finished
product with the aim of achieving the desired rate of growth and profitability at the same time
that can help in improving the performance of the individuals that are working in the enterprise.
Since whole world slowly and gradually understanding the importance of maintain a sustainable
environment and as a result there is a shoot up demand of electric vehicles that Tesla provides
which further leads in the increased revenues for the company in the market. Marketing
functions makes it easier for big firms like Tesla to make necessary changes and adjustments in
order to improve the existing product so that the new evolved product can carter the needs,
requirements, and demands of the society and that too in an effective and efficient way. Different

roles and responsibilities of marketing function with reference to Tesla are explained in detail
below-
Market research- Market research is considered the first step towards setting up a business
firm because it is very essential to analyse and evaluate the environment of the industry in which
one is planning to operate so that appropriate adjustments can be made well before the
incorporation of the company so that it can compete with other firms effectively. While doing
market research managers does a detailed examination of the current, past, as well as the future
trends of the industry so that it can give an overview of the situation of the market and its
environment that can be used at a great extent to take an advantage over other organisations.
Since Tesla is operational in the market which is highly competitive and dynamic in nature and
thus it becomes very important to analyse the trends that are going on in the industry in order to
survive in the industry in a better manner which can subsequently help in increasing the level of
sales and can increase the profitability level too within a short time period (Burtles, 2016).
Customer satisfaction- Each and every business firm that is operating in the market
irrespective of the industry in which they are working focuses on giving the highest level of
satisfaction to its customers so that it can directly benefit their sales and profitability which can
further improve their value in the market. The owner of Tesla which is Elon Musk keeps the
satisfaction level of its customers their first priority and as a result the overall efforts of the
company are also directed towards making the best product for the citizens so that it can help
them to maximise their satisfaction level without hampering the environmental factor. Thus for
attracting customers Tesla gives different type of discounts and offers to its customers which
directly affect the sales of the enterprise and also helps to attain and achieve the desired objective
and that to within a limited time frame.
Managing marketing budget- Budget is of great importance and thus every firm appoints a
team of experts that can formulate a perfect budget for the company which can lead to reducing
and minimising the cost, wastages, and unnecessary expenditure that is incurred in the activities
that are performed in the organisation and thus making the company profitable in the long run.
Since Tesla is working on a huge scale and thus it becomes very crucial to use the available
resources effectively and thus it employs a team which is talented and experienced enough in this

regard and that team formulates an accurate and precise budget for the company which helps it in
reducing the overall cost of operating.
Developing marketing strategies- Developing effective strategies that can help the firm to
grow and prosper in the current market circumstances that are highly pervasive in nature is very
crucial since it helps in increasing the level of sales and profitability and that too in a limited
time period. Tesla’s department of marketing does a detailed research on all the aspects that are
currently prevailing in the market like change in trend and after analysing and evaluating all the
factors in detail it formulated appropriate strategies that can be implemented and used for the
smooth functioning of the organisation. Making accurate strategies that can work in favour of the
company is one of the major reasons for such a huge success of Tesla in the industry in which it
is working (Counts, 2020).
P2. Examination of the roles and responsibilities of marketing function to wider organisation
context of the firm that has been mentioned above
All the functions of marketing are not only limited to a specific task but also affects other
departments too and their working so it is very crucial for every firm to analyse all the aspects in
detail so that it can add value to the company in the long run. All the departments are closely
related with each other and every department contributes in the working of other by supporting
the activities that are performed in it. Tesla is a firm which is operating in almost every part of
the country as well as world and it is only possible because all the departments are focused on a
single goal and thus as a result all the activities are directed towards the same making the
organisation more profitable in the industry. Inter-relatedness of various departments are
explained below in a systematic manner-
Marketing and Human Resource department- The role of the HR department is to appoint
talented individuals from a pool of alternatives that are present in front of them. The function
starts from recruitment process and ends on selection process as in the former applications of
various persons are received and in the latter process the best suitable one is selected after a
rigorous process of selection and Tesla appoints a team of experts so that the selected individual
can helps the company to grow in the market. Marketing function is inter-related with HR
department since it promotes the organisation in the market so that a number of people can be
attracted towards the enterprise so that the process of selection can become easier (Gash, 2016).

Marketing and Finance department- The department of finance possesses a lot of
value in the current market situation as it helps in allocating the funds of the company in an
effective manner so that it can fetch higher returns in the near future. Tesla’s marketing and
finance departments are inter-related with each other as the former helps in gathering a large
number of stakeholders so that it can directly affect the profitability in a positive way while the
latter shows the true financial position of the company in which stakeholders are interested.
Marketing and IT department- The department of information technology is very
important in the present time as it compared the technology that is presently use by the firm with
the one that is available in the market so that the latter one can be used instead of the existing
technology so that cost can be reduced which can increase the profitability of the organisation.
Marketing department of Tesla is related with IT department as it examines the different
technology and the other determines that it is worth using or not (Grewal, 2018).
TASK 2- In PPT
P3. Evaluation of the concept of marketing mix and its related aspects that various companies
use so as to compare them with the company that has been mentioned above
TASK 3
P4. Formulating a precise plan of marketing for the above mentioned company
A report that includes all the factors that both directly as well as indirectly affects the
working of the company is termed as a marketing plan. A marketing plan for Tesla is formulated
below in a systematic and sequential manner-
Marketing plan
Basis Details
Vision
Mission
The vision of Tesla is to provide products to
the society that is environment friendly and
also carters the needs of the society and its
citizens.
The mission of Tesla is to make the automobile
industry more electric based rather than fuel

based (Keong and Dastane, 2019).
Marketing goals and objectives  To increase the captured market share
percentage from around 25% to 40%.
 To make enough products so as to fulfil
the needs of every citizen.
 To bring new and innovative measures
that can help in better utilisation of the
available resources.
To make products that is according to the
budget level of majority of the customers.
Marketing strategy Product- Tesla makes their products according
to the needs of the society as well as the trend
that is followed in the market and also does all
the detailing of the product in itself only so that
it can reduce any chances of misinterpretation.
Price- Tesla operates at a competitive price
level so that customers of all income groups
can afford their products.
Promotion- It mostly uses advertisement for
its promotion since it gives the company a
mass reach (Pantano, Bassano and Priporas,
2018).
Physical Evidence- It keeps the environment
of all its stores very adequate and precise so
that it can act as a tool to increase sales of the
company.
People- Tesla focuses mainly on internal
training and development of its employees so
that they can interact with customers in a better
way.
Processes- Tesla uses artificial intelligence and

advanced technology so that it can save money,
time, and effort and also reduce the cost of
operating at the same time.
STP framework Segmentation- Tesla properly segments and
makes division for all its products that it
renders in the market according to the area in
which it is operating so that it can help in
maximising its sales and that too within a short
time frame.
Targeting- Tesla mainly focuses on catering
the needs of upper middle and rich class group
that gives high importance to the quality of the
product.
Positioning- Tesla uses experiential
positioning that creates an emotional bonding
between the buyer and the company (Perez
Zamora, 2019).
Strategies to achieve marketing goals and
objectives
 Tesla does a detailed examination of
the area in which it is operational and
then allows different types of discount
and allowances on its products which
attracts a large number of customers
and thus making the company
profitable in the long run.
 Tesla uses latest technology and also
upgrades it on a timely basis so that the
cost of operating can be reduced which
can help in maximising the profitability
level of the enterprise.
Tesla also does a research before opening up a
store in a region so as to evaluate that if a new

product is launches will it fetch good sales or
not (Siegel and Worrall, 2018).
Monitoring and Controlling strategies  KPIs- Financial key performance
indicators prove beneficial for Tesla as
it helps the company’s managers to
analyse the true financial position of the
firm so that appropriate measures can
be implemented in the organisation.
 Balanced scorecard- It is a technique
that helps Tesla to examine that all the
efforts are directed towards the
attainment of the desired goals or not
(Prins, Bulte and Pilot, 2018).
SWOT analysis Strength:
 Tesla have
adopted
innovation
and
encouraging
culture.
 It offers best
in class
electronic
cars.
 It dominates
various
market
through its
offerings.
 It works with
cross sell and
Weaknesses:
 Tesla have
faced
manufacturin
g
compliances.
 Its
production
rates have
decreased
due to
limited
supply of
batteries in
market.
 There is lot
on his
shoulders to

diversification
method.
give his
hundred
percent to
the company
Opportunities:
 Launching
pick up trucks
that have
huge
opportunity
for
development.
 Adopting
battery
production
technology in
house.
Threats:
 Tesla faces
aggressive
competition
from various
fuel vehicles.
 Because of
highly
complex
engineering
of innovative
vehicles, its
cars have
exhibited
major flaws.
PEST Analysis Political factors: As Tesla runs in various
countries, there political instability impacts
negatively on operations of the entity.
However, political parties have made various
trade regulation through which it performs easy
import and export of required resources and
products.
Economic: Factor including changes in
business cycle impacts on Tesla as it have to
modify its strategies so to work in context to
pertaining business stage so that all operations
are performed effectively.

Social: Attitudes and preferences of customers
plays huge role in impacting performance of
Tesla as the company satisfy its target audience
with innovations.
Technological: Advancement in technology is
one of technological factor that impacts
diversely on Tesla. At same time, it have
adopted technologies including Artificial
intelligence, Search engine optimisation, etc
and so on to work with advanced programmes.
Budget
Evaluation- It can be evaluated that Tesla is one of the biggest firm which is currently
operating in all over the world by giving quality products to its customers. Apart from this it can
be evaluated that it is performing exceptionally well in the industry and is placed well ahead of
all its competitors that are operating in the similar market conditions (SANTOVAC, 2020).
CONCLUSION
From the above it can be concluded that marketing is an important factor for every business
firm since it can help the company grow while at the same time it can damage and disrupt the
value of the company if not analysed in an impactful manner. Apart from that it can be
concluded that a marketing plan is a must for a company like Tesco as it is operating on a large
scale and it helps the company to increase its level of sales and profitability within short time
period.

REFERENCES
Books and journals
Breibauer, A., Brücker, J. and Jäger, J., 2018. Emerging Market Multinationals in Europe:
Implications for a Smart Location Policy. Fachhochschule des BFI Wien.
Burtles, J., 2016. Principles and Practice of Business Continuity: Tools and Techniques Second
Edition. Rothstein Publishing.
Counts, C., 2020. Core curriculum for nephrology nursing. Lulu Press, Inc.
Gash, J., 2016. Coaching Creativity: Transforming Your Practice. Taylor & Francis.
Grewal, D., 2018. Retail marketing management: The 5 Es of retailing. Sage.
Keong, L. S. and Dastane, O., 2019. Building a sustainable competitive advantage for Multi-
Level Marketing (MLM) firms: An empirical investigation of contributing factors. The
Journal of Distribution Science. 17(3). pp.5-19.
Pantano, E., Bassano, C. and Priporas, C. V., 2018. Technology and innovation for marketing.
Routledge.
Perez Zamora, M., 2019. Marketing Communications Plan for Jolla Oy.
Prins, G. T., Bulte, A. M. and Pilot, A., 2018. Designing context-based teaching materials by
transforming authentic scientific modelling practices in chemistry. International
Journal of Science Education. 40(10). pp.1108-1135.
SANTOVAC, B., 2020. Marketing communication models and surveillance economy (Doctoral
dissertation, Masarykova univerzita, Ekonomicko-správní fakulta).
Siegel, L. J. and Worrall, J. L., 2018. Essentials of criminal justice. Cengage Learning.