Create a formal problem statement based on key background/contextual information
Create a formal problem question
Create an expanded purpose statement including the purpose, scope, limitations, and significance
Create a research strategy including a description of potential sources and methods of collecting data
Create a tentative outline of key questions to answer that factors the overall problem into manageable chunks
For any business to survive the current market, it needs to realign its marketing strategies to suit the dynamic market that is the world today. The business must keep finding new ways of how to increase sales, without necessarily reducing their prices and profit margins. This calls for alternative strategies to increase sales, and one such strategy is adopting an adept marketing strategy. Tesla Motors is a world leader in innovation and technology and has made its foothold in the automotive industry with their electric cars. However, with several companies slowly catching up with Tesla Motors, and with resistance from petroleum-fueled vehicles, the company needs to adopt a marketing mix that will ensure that the company remains relevant and that it makes sales. Every company has a marketing department that is mandated to develop and execute a marketing strategy that should be adopted. This marketing strategy will include various attributes of the product such as price, advertising techniques, as well as the competitors. The marketing mix developed should be so that the company emphasizes promoting its products while keeping the costs involved as low as possible. For the case of Tesla, the marketing department is tasked with how can Tesla electric vehicles become mainstream in the automotive industry?
This research paper will look into Tesla Motors’ marketing mix and strategy. To achieve the set goals, the paper will be informed from theory and literature. Through an adept study of the present literature, the paper will determine the current marketing strategy that has been adopted by the Tesla Motors identify its strengths and weaknesses, identify niches and propose possible recommendations on how to improve the mix, if any. The paper also compares Tesla’s marketing strategy to the international best practices of marketing, and those adopted by their competitors as well.
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