You have been hired by Tesla to develop a new marketing plan that includes not only the key elements of the marketing mix, but also how you would implement them. You are asked to present your 1-2 page Executive Summary to the Senior Executive team.
Executive summary
The world has moved on over the last few years to a more conserving and energy preserving mindset. While this is a concern for the vast majority, there is a vast demand for a smaller medium of transportation. With the ever increasing prices of fuels there is an opportunity in the market to provide an alternative energy saving option which can be favored for transportation. This is the focus area of the new production product of electric scooters. Tesla has been a pioneer in the field of electric vehicles and this venture would provide a niche and a first mover advantage to Tesla in the current market globally.
Product Description/ objective
The objective is on the similar lines as other Tesla products where we want to accelerate the world`s transition to a sustainable energy. Providing an alternate medium for everyday usage will provide the education and act as a catalyst to spread the importance of alternate mediums of transport such as electric vehicles. The product is expected to reach the market pinnacle in the next 3 to 4 years. The vehicle will be driven by Tesla`s latest technology and will include different versions which can fit with the different target groups.
Target Audience
The target audience is a niche group of customer who has focus on reducing the carbon footprint and higher usage of alternate mediums. Based on the market intelligence, we can start the promotions with a younger audience. The electric scooters will be targeted by the customers who have an affiliation to the brand of Tesla and also to the energy saving motto. The age group will be between the 18-30 group globally.
Product mix
Tesla will provide eclectic scooters with both gear variants for the customers. There will be different versions with regards to the top end variant which have additional features and the lower variants with reduced enhancements. The performance in both the cases will be similar only difference being the additional benefits. The product will be available with gears and no gear option. The plan is to create a light weight scooter in a fluidic design with comfortable seats which is inspired by Tesla`s other vehicles. The engine capacity will be similar across all variants.
Price mix
Pricing will follow a price skimming policy where the scooter will be charged a premium cost initially on the lines with other Tesla vehicles and later on the rates will be reduced to encourage more users.
Place Mix
The electric scooters will be made available in all the existing Tesla outlets and there will be higher focus on the areas where the concentration of target audience is higher.
Promotion
There will be higher focus on promoting the scooter to the target audience. Promotions will be done through exhibitions, print media, broadcast media, radio and internet marketing. There will be partnerships with other brands who focus on energy saving to ensure the product details are shared to mass audience. Based on the customer demands there can be offers for accessories in specific regions to attract more customers.
Summary of Implementation plan
The above aspects cover the implementation plan from marketing point of view. But to ensure the marketing plan is proper, there has to be detailed study of the market and analysis has to be done on the demand forecast. Based on the forecast, the supply chain needs to be altered to ensure the scooters are made available in the regions where there is higher demand. A project team is created to understand the market in detail and provide the forecast with higher accuracy. There will be AI based tools to gather information from the social media platforms regarding the interest generated through teasers and promos. Based on this, the impact of market plan can be analyzed and improvements can be done to the marketing plan.
Conclusions
With the advent of electric vehicles, more and more customers have shown a tendency to switch from existing models to electric mediums. In addition to this, the pride and brand equity obtained by owning a Tesla vehicle will play suitably for Tesla. There is a higher demand for reducing the carbon footprint globally and this vehicle will go a long way in providing the first step to reduction of dependency on fuels.
You have been hired by Tesla to develop a new marketing plan that includes not only...
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