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Tesla Inc. is an American company that manufactures cars that purely depend on clean electric energy power. The company mainly produces top-notch electric cars with zero dependence on fuel. Tesla is famously known for its $0 marketing strategy; this implies that the company does not use any capital to finance its products in the competitive automobile industry. The company found a way of marketing itself based on its unique products without spending any funding on advertisement. This is one of the key strategies the company has implemented to ensure that it remains relevant in the automotive industry. Other automobile giants in the industry have since adopted the concept of clean electric energy to ensure that they capitalize on the emerging market for the same. However, Tesla has maintained a solid command regarding its sales in the USA and other parts of the world.
One of the marketing strategies implemented by Tesla Inc. is known as the market mix, where components of price, product, promotion, and place are integrated to realize the best economic significance in an organization. The first aspect of Teslas product involves the capabilities of its models. Although the models are classified into three categories, X, S, and 3, all three models are configured with efficient technology that ensures the cars can be so fast, moving from 0 to 60mph in just 3 seconds. The integration of solar-powered features of the car improves its ability to go so fast, thus edging most classic cars in the market.
One of the strategies the company uses involves the number of products it produces in the market. Teslas vehicles are not easily obtained because prospective buyers must visit the companys showroom to get the car. This increases demand for its products while at the same time ensuring that the price of the car is high. The quality of the cars is not debatable; they are some of the best cars in the market, t; thus, producing only a few of the cars would ultimately imply that the company gets maximum return with the release only of a few features.
The price of one unit of Tesla product is way higher than the car prices for Ford, Toyota, and GM, among others. One of the key reasons Teslas cars are very expensive is the quality of products used to assemble the car (Shen & Zeng, 2022). The vehicles performance is equally very high, given that most of its competitors struggle to keep up with the investment Tesla put in place to ensure it remains top of its industry. The company uses its reputation as one of many top manufacturers of electric cars as its main advertisement strategy. The reputation held by the company cuts across several facets of the world, thus giving it a considerable edge in car manufacturing and automation. The company is equally associated with the other famous programs by Elon Musk; these products have comprehensively been used to ensure that the company remains relevant and can compete with other companies in the market.
One of the companys strengths is its customer referrals as a key component of its marketing strategy. The company prefers customer referrals through word of mouth to promote its business. Through this system, the company has received almost 30% of its customers at a 0% advertisement rate (Shen & Zeng, 2022). The company has one of the best customer services, thus making it very easy for the customers to be its sales agents and advertisers (Pathak, Yadav, Pillai, Das, & Kansal, 2022). Some of the features integrated into the cars, such as automaton the prim, help customers reason with the cars, thus establishing a comprehensive feature through which the company can integrate all its important components to achieve the desired client objectives. One of the significant features of the Tesla cars is their ability to go at very high speeds, with very few reports of accidents. The cars have a very high-security feature necessary to guarantee safe travel irrespective of the speed. These features prompted Elon Musk to use one of the cars for his daily errands. In using the cars, he is assuring the public that everything is ok when using the car.
The Tesla CEO, Elon Musk, has a huge social media presence due to his vast wealth and interests. Thus, he has been able to advertise the company using his celebrity status at no cost. He has equally invested much capital into research and innovation to enhance the companys engineering systems. The innovative engineering system of the company can be attributed to some of the success the company has realized in the recent past. It is important to note that the company has a comprehensive way of ensuring that everything that goes into the final product is well-researched to meet the clients demands. The research initiative is a key factor in influencing a positive environment to bring several business strategies to focus, thus enhancing the sales and profitability of the company.
The company invested a lot in research, technology, and innovation; thus, in the first years of its production, it struggled against traditional companies such as General Motors, and Toyota, among others. However, over time the company has been able to companys CEOnsive mechanisms through which several factors have been put in place to ensure enhanced production of its activities (Han, 2021). Elon Musk, n his capacity as the CEO of the company, has continually been creating a buzz around the production and development of these cars to promote services across several clients. Elon Musk is the richest person in the world. Thus, it is in the form of the amount of money he has spent on the development stages of electric cars.
The company has specific sales centers, not unlike franchises owned by individuals. Tesla invested in its sales centers to act as reservations and sales stations. It implies that the company runs the stations on its own and, in many ways, does not entertain any form of franchises from third-party individuals. It also acts as a marketing strategy because it essentially gives the clients the security they may need from these organizations. The sales stations have authentic parts of the cars where the clients can take their cars for service with no possibility of the car being damaged. Other automobiles cannot compare to these comprehensive platforms through which the cars can be serviced using original car parts available in all service stations worldwide (Wang, & Yang, 2021). In the event a car has a problem, Tesla provides a way through which the individual can be able to return the car for a better version.
Tesla has a special way of engaging its clients in a more authentic and humor-oriented manner. This can be seen in its celebration of the model x unveiling, sending some roadsters to space. These are some of the techniques the company uses to capture the attention of some of its clients, primarily to enhance its production capacity. The company has a continued online presence where it engages its clients and customers to solve various problems that may arise from the cars. These platforms identify with people who, in many ways, are fully focused on the latest trends in the automotive industry. It is equally a compelling way of ensuring that the company fully complies with the rising social media demand, especially among young people.
In conclusion, Tesla remains one of the leaders in the car manufacturing sector, given its exploits in clean energy cars. Based on their annual sales volume, the car entity is slowly but steadily dominating the market in the future. The Companys philosophy in manufacturing is one of the key attributes contributing to several factors that go into finalizing aspects of the car business. The company believes that investing in its clients by giving quality products is the best sales mechanism to be embraced by any given company. Unlike other companies that spend millions in adverts, the company does not spend a significant amount of its investment on marketing; it spends the same on developing high-quality cars. Arguably this method is working out because it helps the company highlight some areas in which it can adjust its services, thus improving its production line.
References
Han, J. (2021). How Does Tesla Motors Achieve Competitive Advantage in the Global Automobile Industry? Journal of Next-Generation Convergence Information Services Technology, 10(5), 573582. Web.
Pathak, P., Yadav, V., Pillai, S., Das, S., & Kansal, G. (2022). Unveiling the Success Behind Teslas Digital Marketing Strategy. Emerging Technologies in Data Mining and Information Security, 251260. Web.
Shao, X., Wang, Q., & Yang, H. (2021). Business Analysis and Future Development of an Electric Vehicle CompanyTesla. Proceedings of the 2021 International Conference on Public Relations and Social Sciences (ICPRSS 2021). Web.
Shen, C., & Zeng, Q. (2022). Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022) Preface | Atlantis Press. (n.d.). Web.
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