Study of Tesla's marketing strategy

Detailed Study of Tesla’s Marketing Strategy

Tesla, the leading automobile manufacturer in the automobile industry located in Palo Alto, California has been creating buzz ever since its presence. The uniqueness that has been feeding the company all the attention is its unorthodox manufacturing approach, the first-ever company to introduce electric vehicles. However, this is just one of the innumerable benefits the company holds in significance to its performance density. Tesla’s marketing strategy has been looked forward in the present time. Elon Musk propagated different marketing approaches proving to be a business benefit. Let’s explore in-depth Tesla’s marketing strategy and how these are shaping the future markets:

Target Audiences

All businesses focus on earning surplus revenue, and Tesla is no different from the norm. Tesla’s marketing strategy travels through the marketing mix which is built on 4P’s, Product, Price, Place, and Promotion.

Product Strategy

Tesla invented three automobile models namely S, X, and 3, proving to be a stepping stone for their success. All three models operate at a speed of 60 miles per hour in just 3 seconds span. The car’s tailpipes emit no carbon resulting in forging a greener environment.

Price Strategy

The vehicles are undoubtedly highly valued for their eco-accommodating + high-tech features present in the process. The vehicle registration plate is worth a whopping amount.

Place Strategy

The vehicles have always been in high demand as they are not easily available at all places like all other brands. The company dusts the thought of selling the cars to a franchisee thereby making it exclusive.

Promotion Strategy

Another highlight in Tesla’s marketing strategy is the vehicles are exclusively manufactured with cutting-edge features like the auto-pilot mode, falcon doors, superchargers, etc. There has not been an invention in the automobile industry like the Tesla cars. In addition, Elon Musk like no other CEO engages in brainstorming speeches contributing to building audiences’ interests and Tesla’s marketing strategy.

Promoting Options

Tesla’s marketing strategy involves setting up Service Plus centers where the company directly sells its cars to the service centers. These centers work simultaneously regarding selling cars and building customer experiences.

Tesla’s Marketing Strategy

Tesla believes in startling audiences’, to walk on the perception they introduced electric vehicles which no other company has executed till date. To take Tesla’s marketing strategy a notch higher, the company introduced $0 marketing budget. Sounds trembling but for the company it turned out to be a boon. In the $0 budget, the first thing Tesla visualized is generating electric cars based on status status-driven concept which helped the company attain the audience’s attention without having to spend any expenses.

Tesla’s Digital Marketing Strategy

Elon Musk majorly contributes to Tesla’s marketing strategy. You must be intrigued to decipher how it’s even possible. Hold on we are briefing you over this, CEO Elon Musk is recognized for being frequently engaged in controversies, leading to converting his social profile into a marketing platform. Recently, the company was again in the headlines for developing cyber trucks. The speculation was raised for the window glass of the cyber truck was pulverized during a demonstration in 2019 which ended up contributing to their promotions.

Conclusion

One thing we can conclude is that Tesla’s marketing strategy is undoubtedly one of a kind. How the company has structured its strategies will surely expand its existing connections and recognition.