Tesla Marketing Strategy

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Tesla, Inc. (formerly Tesla Motors, Inc.) was founded in 2003 by a group of engineers who wanted to demonstrate that electric vehicles can be better, faster and more enjoyable to drive than non-electric vehicles. The mission of Tesla is “to accelerate the world’s transition to sustainable energy.” which points out that Tesla is not only a car producer but also a technology and energy innovation firm (Tesla Inc., 2018).

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In contrast with the other automakers such as BMW, Mercedes, Ford – Tesla Inc. is the only firm that produces only electric vehicles since its existence. Tesla offers its customers a fully electric car (zero emission) in a high quality and performance with luxury and great experiences, so the customers can travel long distances and experience a high level of safety with unique features and eco-friendly status (Tesla Inc., 2018). This provides an opportunity for the company to build long-term relationships on reliability with its customers. Moreover, the company’s pathbreaking concept which is a symbol of innovation and renewable energy solutions attracts and retain new customers (Kissinger, 2018). However, besides its strengths Tesla faces some challenges such as high price, increased demand for Tesla cars, having limited stores, providing supercharger stations (Elrayes, 2016). For example, Tesla’s products are expensive (starting at for Model S $68,000 – for Model X $88,800), so the company launched Model 3 with a lower price tag ($35,000). As a result of this the production capacity met spikes of increased demand. Gigafactory has been building to produces Model 3 electric motors and battery packs. Also, Tesla has only 212 stores and over 10,000 supercharge stations around the world (Tesla Inc., 2018, Lambert, 2018). Having limited stores and supercharge stations are limited the company’s operations in the international marketplace.

In conclusion, there are some different issues that the company should focus on so that the company can increase its competitiveness and profitability. Firstly, Gigafactory should be done in the estimated time in order to meet the increased demand. Second, the company should create new products to decrease the price tags. Third, new stores should be opened in different continents to reach more markets. Finally, Tesla needs to find a way to increase supercharge stations around the world like getting partnerships with gas stations.

References

  1. Kissinger, D. (2018, September 12). Tesla Inc. SWOT Analysis & Recommendations. Retrieved from http://panmore.com/tesla-motors-inc-swot-analysis-recommendations
  2. Elrayes, A. E. (2016, May 12). Tesla Marketing Strategy. Retrieved from https://www.slideshare.net/AhmedElrayes7/tesla-marketing-strategy-61953373
  3. Electric Cars, Solar Panels & Clean Energy Storage | Tesla. (n.d.). Retrieved from https://www.tesla.com/en_CA/?redirect=no
  4. Lambert, F., F., & Electrek. (2018, June 09). Tesla has now deployed over 10,000 Superchargers around the world. Retrieved from https://electrek.co/2018/06/09/tesla-10000-superchargers/
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Tesla Marketing Strategy. (2019, Dec 30). Retrieved December 6, 2022 , from
https://studydriver.com/tesla-marketing-strategy/

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