Tesla Motors Marketing Mix: Tesla Motors, currently known as Tesla Inc, is a public limited company of American origin. It is involved in the storage of energy items that are associated with the automobile industry. Tesla Motors was founded in 2003 on the 1 1st of July by eminent co-founders JB Straubel, Elon Musk, Ian Wright and Marc Tarpenningand Martin Eberhard.
Marketing Mix Of Tesla Motors
Marketing Mix Of Tesla Motors is brand-based. In Marketing Mix Of Tesla Motors, We will Learn About the four key elements of Marketing Mix: products, place, price, and Promotions. By paying attention to the following four components of the marketing mix, a business can maximize its chances of a product being recognized and bought by customers. We will be discussing Tesla Motors Marketing Mix. Below is the detailed Marketing Mix Of Tesla Motors.
Let’s talk about Tesla Motors Marketing Mix.
Tesla Motors Main Competitors
- FAW Group
- Federal Signal
Tesla Motors’ official website: www.tesla.com
Product in the Tesla Motors Marketing Mix:
Tesla Motors is an independent automaker offering various vehicles made with the most recent technological advances. It follows the B2B model, which encourages partnerships with other businesses by providing products and services. It also follows the B2C model, which includes the most luxurious, family, or large-scale automobiles.
It is an established manufacturer, distributor, and creator of environmentally friendly items and provides similar services to other automobile firms. One primary product made by international companies is electric-powered batteries. Apart from that, it creates sustainable energy technologies and a supercharging station. Its products can be described listed below.
- Motor induction
- Motor of magnet
- Lane departure alert
- Affinity cruise control
- Emergency Braking
- Lithium-ion battery
- Glass for the roof
- Roof tiles using the solar collector
Batteries and battery products
Models of vehicles
- Tesla Model S: Tesla launched its first car of top quality, with features such as auto-pilot auto-driving with adaptive lighting, a powerful and robust engine, and a defensive mode for the safety of passengers
- Tesla Model 3: Tesla has introduced its third generation model Model 3 with fanfare, and within the first week of its existence, the company had the most significant number of reservations. Model 3 is among the most sought-after possessions created by electric cars and has the highest safety standards.
- Tesla Model X: It’s an SUV crossover with an aluminum body. Clean-air technology provides passengers protection from polluted air. This car is among the fastest to reach sixty mph/2.9 seconds, the most secure with five-star ratings, and spacious, with easy access to the third and second row of seating.
Place in the Tesla Motors Marketing Mix:
Tesla Motors caters to a worldwide audience via its headquarters in Palo Alto in the United States. It boasts a vast distribution as well as distribution network that it owns, which includes stores across Asia, Europe, Australia, South Korea, Dubai, and North America. One of Tesla’s most important markets is selling electric automobiles in China. In October 2017, as part of an agreement with the Chinese government China, the company announced that a manufacturing facility was set to open in Shanghai. As of May 2017, this multinational company had eight branches across Canada, including cities such as Montreal and Ontario.
Tesla established its base in San Carlos in, California, and later, it opened retail stores in Los Angeles and Manhattan. In October 2016, there were two sixty retail outlets within the United States alone. June 2016 saw the opening of a store-within-store located in Los Angeles. Several galleries and stores in the United States have been set in shopping malls to get maximum branding exposure. Tesla Motors has a site for selling its products to interested customers.
The company has adopted the direct-to-consumer approach to sales through its stores and service centers. Services and inspections are provided through their service centers. Its manufacturing facility is located in Fremont, which is located in California. Other assembly facilities are scattered all over the world, such as Gigafactory 1 in Nevada Nevada and Giga factory 2 in Buffalo, New York. Instead of utilizing a traditional dealership system, Tesla is opting to sell its cars through online sites and showrooms owned by the company. One of the most important R&D departments is located in Athens, which is located in Greece.
Price in the Marketing Mix Of Tesla Motors:
At the close of the financial year, Tesla Motors posted revenues of 11.76 billion US dollars, with net earnings of -2.24 billion US dollars and total assets at 28.66 billion US dollars. Tesla Motors initially focused on wealthy customers, making conscious choices to gain access to more significant markets later with low-cost pricing. Thus, from the beginning, it implemented the price-based approach and maintained its high prices for its top products. This was targeted at a small market that was more attracted to high-end products with the latest technologies regardless of cost since they could pay for such items.
The company later introduced affordable products, considering the mid-sized general market. The company wanted to capture the majority of the need of consumers, and thus it adopted the prudent price method. It was a massive success because it allowed the company to market a more significant number of items, resulting in greater profit margins and higher profits.
Promotions in the Tesla Motors Marketing Mix:
In 2017 Tesla Motors approved a budget of 52 US dollars to be used for marketing and also used word-of-mouth and referral programs to attract customers. The company has developed a unique method of promoting its products to customers. The multinational corporation also enlists media announcements and its PR team to generate positive brand recognition. In the company’s PR efforts, its charging stations on the highways and charging points in hotels, malls, and restaurants bear the brand name Tesla on top of them.
To increase widespread recognition, Tesla has taken the aid of social platforms. It has a strong presence on its blog, website, and forums and thus uses websites for marketing purposes. It is always a source of viral buzz when there is an announcement of any new product. There are more than one hundred fifty videos uploaded to the channel. It is the only official channel on YouTube with over 364k followers and videos that showcase their vehicles’ best characteristics.
The most current information includes specifications, features, safety measures, and warranties. New software is released frequently on its official site for those interested customers. Tesla utilizes its Facebook page to gain maximum benefits and has over 2.2 million fans. Discussions are regularly held on social media platforms about different products and technologies. The company also interacts with its followers through Twitter with success, as it has greater than 1.73 million users on the Twitter account.
Chief Executive Officer Elon Musk Elon Musk is the company’s public face. Company. He is a regular participant in a variety of talks and interviews. This aids in increasing the positive image and the value of its brand.
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