Marketing and Promotion of Electric Vehices Essay

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Tesla Marketing Plan

For over a decade, Tesla Motors has emerged as one of market leaders in designing, manufacturing, and selling luxurious electric cars, battery components, and powertrain components. With its establishment in 2003, the company has established an innovative niche in the electric car business. Tesla has developed a market strategy that embodies the company's core values in the luxury electronic vehicle business. With this strategy, the company establishes a competitive niche that surpasses other players in the market.

With this strategy, Tesla can benefit from gaining a significant market share, brand loyalty and awareness, and realization of profits through the adoption of new strategies. In this paper, we look into the market success plan for Tesla Motors (Damodaran 40).

In this case, we develop a fully electric, brand new, and entry-level car named Tesla Z. The car will possess core components of a Tesla vehicle. However, the creation of the car will target 40-60 aged individuals. Development of the car will take into consideration the aspect of the budget to enable customers to buy the car at an affordable price. A variety of luring programs such as Test Drive America and Amplify Your Ride come in handy in improving customer loyalty and satisfaction. Launching an integrated marketing campaign, capitalizing on advertisements spreads the word of Tesla's innovative product.

Shipping of the first car will occur early 2016 for those that booked the car in 2015. The company will host Test Drive America and Amplify Your Ride campaigns in America in the second half of 2016. Spreading such campaigns gives customers the opportunity to enjoy the innovativeness of Tesla Z.

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The growth of electric and hybrid vehicle business will depict the demand for the car in the next half a decade. The company can channel resources to cater for an increase in demand for the car. Previously, the expansion of the Supercharger station has given Tesla an appeal in the mass market.

Over five years, it is expected that the strategy will generate revenues totaling $7,900,527, 490. From the sales, a profit of margin of $1,593, 472,782 will occur as a result.

Situational Analysis

For over a decade, Tesla's market presence has enabled it to gain a competitive market niche over other players. A comprehensive market strategy occurs as an essential success measure for the business. Based on the market dynamics, a market entry with Tesla Z suits the targeted 40-60-year bracket customers.

A) Market Summary

Tesla possesses good information on market dynamics especially demands of target customers. Leveraging on the information results in a better understanding of the specific needs of customers and the best techniques for communicating to customers based on their needs.

I. Market Demographics

Tesla Z targets customer group, 40-60 aged customers consist of the following demographic,….....

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