Situation analysis
Identification of the target customers
Primary target customers for Tesla are the rich professionals who are having the purchasing power of spending premium in buying cars. In addition, customers who are more environmentally conscious and aware are also the target customers for Tesla due to the fact that they will more prefers electric vehicles over the gasoline powered vehicles (Reinecke, 2014). In terms of age groups, middle age customers are targeted due to the reason that they are more accustomed with the latest technology and they will also prefer the higher performance of Tesla cars. These customer segments are updated in terms of usage of technology and it is helping Tesla in involving more technologies in their business policy (Kanagal, 2015). On the other hand, customers seeking higher and better performance and acceleration from their cars will also be targeted due to the fact that cars of Tesla will be able to fulfill on these needs. In terms of geographical segmentation, customers from the urban and tier I locations will be targeted in the initial stage. This is due to the reason that favorable infrastructure is required for the electric vehicles such as charging points. These facilities can be made available in the urban areas more effectively.
Identification of the strengths
One of the major strengths for Tesla is their expertise in producing electric vehicles. They are the only car producer in the world with having the entire concentration on producing electric vehicles. Thus, their expertise is more compared to other conventional car markers. In addition, the popularity of the cars of Tesla helped them in becoming synonymous with the electric vehicle category (Hardman, Shiu & Steinberger-Wilckens, 2015). Thus, it is beneficial for Tesla to push their products in the new market such as Australian market. In addition, the current trend of awareness among the average customers in Australia regarding the emission from motor vehicles will also help Tesla to market their products in the Australian market. Tesla will be able to market their cars as more performance oriented as well as environmental friendly in the Australian market. Another major strength for Tesla is their distinctive marketing and distribution strategy (Ratkovic, Krasulja & Garaca, 2013). Tesla is the only car maker in the current time, which is having their showrooms in the shopping malls. In addition, customers are given the opportunity to experience the virtual tour of the cars of Tesla. These strategies of Tesla will further help them in staying ahead in the competition in the Australian market.
Identification of weaknesses
One of the major weaknesses for Tesla is limited brad value and identity compared to their competitors. Though, Tesla has gained immense popularity in the recent time, but it is not enough to match the brand value of the players such as Volkswagen and Toyota. Thus, they have to fight it hard in gaining favorable market share in the Australian market. In addition, the use of updated technologies in offering services to the customers may have its own set of disadvantages. This is due to the reason that a limited portion of the target segment will be able to cope up with the technological advancement of Tesla (Stringham, Miller & Clark, 2015). Furthermore, Tesla is having currently not having any mass market and affordable cars rather than they are only having higher end cars in their portfolio. Thus, the customer attractiveness rate will be less for Tesla. On the other hand, other manufacturers are offering electric vehicles in cheaper rate. It is also leading to the need of effective media strategy including the social media strategy in making aware the customers regarding their value proposition (Chen & Perez, 2018).
Identification of the opportunities
It is reported that in the next two decades, electric vehicles will take up half of the total Australian fleet. This denotes that a good number of electric vehicles are going to be sold in the following years and Tesla is having the opportunity of tapping this market potentiality. It is also reported that demand for electric vehicles in the Australian market grew by more than 60 percent from 2016 to 2017 (Zhou et al., 2015). This is also denoting the brighter picture for business of Tesla in the Australian market. Currently, the available vehicles available in the Australian market are Nissan Leaf and Chevrolet Bolt. These cars also not performance oriented and thus Tesla will not have direct competition in operating in the Australian market (Green, Skerlos & Winebrake, 2014).
Identification of the positioning strategy
Tesla aims to position itself as a premium and higher end electric car maker in the Australian market. In their existing market of the United States and Canada, same positioning is being maintained by Tesla (Schmidt & van der Rhee, 2014). This will help Tesla to have less intensity of competition in the Australian market as very few competitors are operating in the higher end electric vehicle category. They aim to provide unique driving experience along with providence of newer features as premium offerings.
Social media objectives for Tesla
Current social media strategy of Tesla
One of the major characteristics of the social media strategy of Tesla is the online presence of their CEO Elon Musk. It is reported that Musk is one of the most popular and engaged CEO of any car makers in the social media especially in Twitter. He tweets in every single and smallest issue frequently compared to the periodical corporate tweets of other majority of the corporate CEOs (talkwalker.com, 2018). This is helping Tesla in attaining the maximum exposure in the social media platforms due to the reason that when a CEO is updating about each and everything of the brand, then the involvement of the social users will surely get enhanced. The charisma gained by Elon Musk is helping Tesla to get directly involved with the potential customers in the social media platforms and getting the insights of their taste and preference pattern (Anderson & November, 2013). This approach can be considered as one of most unique concepts due to the fact that it is quite unusual that a CEO is representing the brand from the front in the social media. This also reflects in the social media popularity of Tesla.
Figure: 1
Social media buzz of leading car makers
Source: (talkwalker.com, 2018)
The above data shows that Tesla is leading the social media buzz among all the car makers even by being the newest member in the automobile industry. On the other hand, Renault-Nissan partnership is the largest electric vehicle manufacturer in the world and still they are in the 12th position. This shows the effectiveness of the social media strategy of Tesla.
Another social media strategy being followed by Tesla is generating word of mouth among the public. In this case, they are following the social media strategy of Apple Inc. where social buzz is created for a certain product (Ottman, 2017). Tesla periodically use their Twitter handle in updating about their upcoming products and features in their existing products. These coupled with the innovation and technological advancements in their cars are helping Tesla to generate enough word of mouth and buzz in the market that they do not have the need for paid media (Culotta & Cutler, 2016). This is also pushing the sales of them where Tesla as a brand has become an aspiration for the customers over only being a car maker.
Recommended social media strategy
Though, Tesla is getting success by their existing approach of social media but still they should have some changes in their existing approaches in operating in Australia. This is due to the reason that social media trend in Australia is different to that of the western countries. In addition, the expectation and usage pattern of social media of the Australians is also different to what of the Americans. It is reported that Facebook is the most active social media platform in Australia and it is also having most active users followed by YouTube and Instagram and Whatsapp (wearesocial.com/au, 2018). Twitter is in lower position that denotes that active customer engagement strategy of Tesla through their Twitter handle will have limited effectiveness in the Australian market. Thus, it is recommended that Facebook should be more effectively used by Tesla in communicating with the Australian customers.
Figure: 2
Most active social media platforms in Australia
Source: (wearesocial.com/au, 2018)
Social media plan in Australia
Communicating through Facebook will not be same like communicating through twitter. This is due to the reason that with the help of Twitter, Tesla is being able to communicate in more personalized manner and can initiate one to one communication. This is not possible in the case of Facebook. Thus, in the case of Facebook, it is recommended that Tesla should analyze the average trend and pattern of the feedback of the users in designing their business strategy. In addition, it is also recommended that syncing the official twitter handle of Tesla with that of their Facebook account will help in generating the feedback of the Facebook users against the Twitter updates.
It is also recommended that photos and videos should be used more by Tesla for their Facebook page due to the fact that it will not involve one to one communication like in Twitter. Users will come up with their opinions against the photos and videos. These photos and videos should have some Australian perspective that will further help the local customers to relate with the brand and cultural differences can also be mitigated.
Action Plan
The given action plan outlines the procedures to be followed in the social media strategy for Tesla and has been designed for a time frame of 15 months.
Sr. No |
Activity |
Contents |
Costs |
Person Responsible |
Time frame |
1 |
Conducting market research |
In the given procedure, the organization will be conducting adequate market research with respect to the social media tools available and the manner in which these need to be invested. |
$2000 |
The Marketing Manager The Firm Head The research team |
2 months |
2. |
Deciding upon the social media platforms to be used |
In this step, the organization will decide upon the different social media platforms and tools which they can make use of based on their own capabilities and performance in general. |
$500 |
The Marketing Manager The Firm Head The research team |
1 month |
3. |
Assembling the team |
In the given step, the organization will establish a specific team with the help of which they will carry out their social media plans. |
$2000 |
The HR Executive The Marketing head The firm head |
1 month |
4. |
Implementation of various social media tools |
In the given procedure, the organization will be implementation all its plans related to the social media. These plans relate to online marketing, social media marketing and related mediums as given in the budget |
$18645 |
The HR Executive The Marketing head The team |
5 months |
5. |
Communication and promotion of the firm |
The plan and its components need to be successfully communicated throughout the essentially stakeholders and the different related parties so that they are successfully able to contribute to the firm. |
$300 |
The CEO The marketing head |
1 months |
6. |
Evaluation and control of the performance |
In the given step, the organization will be ensuring that they use of various metrics and social media analytics in order to ensure that they are successfully being able to handle the responses received and the efficiency of their advertisements or not. |
$3000 |
IT Developers Marketing head |
2 months |
Gantt chart
Budget
Particulars |
Units |
Cost per unit |
Total |
|
Social Media |
|
|
SUBTOTAL |
$10,645.00 |
|
15 |
$ 150.00 |
$ 2,250.00 |
|
|
16 |
$ 151.00 |
$ 2,416.00 |
|
|
10 |
$ 152.00 |
$ 1,520.00 |
|
|
17 |
$ 153.00 |
$ 2,601.00 |
|
Google+ |
2 |
$ 154.00 |
$ 308.00 |
|
|
10 |
$ 155.00 |
$ 1,550.00 |
|
Online |
|
|
SUBTOTAL |
$ 8,000.00 |
Blog |
8 |
$ 1,000.00 |
$ 8,000.00 |
|
Website |
$ – |
|||
Mobile App |
$ – |
|||
Mobile Alerts |
$ – |
|||
Email Newsletter |
$ – |
|||
|
$ – |
|||
Web |
|
|
SUBTOTAL |
$ 3,000.00 |
Development |
3 |
$ 1,000.00 |
$ 3,000.00 |
|
Pay-Per-Click Marketing |
$ – |
|||
SEO |
$ – |
|||
|
$ – |
|||
|
$ – |
|||
Market Research |
|
|
SUBTOTAL |
$ 2,000.00 |
Surveys |
10 |
$ 200.00 |
$ 2,000.00 |
|
Impact Studies |
$ – |
|||
|
$ – |
|||
Total |
$ 23,645.00 |
Conclusion:
This report concludes that Tesla is having own sets of positive and negative business factors. However, their immense popularity in short term will help them to tap the Australian market also. In this report, the current social media strategies of Tesla are being discussed and it is identified that their existing strategies are effective in the western countries but may not be in the Australian market. Accordingly, this report has recommended a few social media strategies that will further help Tesla to connect with the Australian customers effectively. In addition, these recommended strategies will also help Tesla to have the maximum exposure in the Australian market.
In the current time, social media plays an important role in marketing strategy of the contemporary business organizations. This is due to the reason that different social media platforms such as facebook and Twitter are having huge number of active subscribers and this population can be targeted with the help of effective and efficient social media strategy (Ashley & Tuten, 2015). However it is also to be noted that trend of social media marketing is changing with time and more innovative forms are being initiated by the business organizations. Thus, for the contemporary business organizations, it is important to design the social media strategy effectively by considering different factors.
Tesla is a leading name in the current automobile market with having the distinction of initiation the electric vehicle revolution in the global car industry. They first initiated the fact that electric vehicles can also be practical as well performance oriented also similar to the gasoline vehicles (Tesla.com, 2018). However, with the growing popularity of the electric vehicles, more manufacturers are coming up with their own range of electric vehicles. This is posing threat to the business and profitability of Tesla. In addition, Tesla also changed the existing model or trend of doing business in car industry by becoming more online oriented company over their conventional competitors. Thus, social media is an integral part of the marketing strategy of Tesla.
This report will discuss about the current social media strategy followed by Tesla along with discussing the recommended changes in their policy. In addition, this report will also discuss about the positive and negative business factors of Tesla along with determination of the target customers.
Reference:
Anderson, C., & November, F. (2013). The shared genius of Elon Musk and Steve Jobs. Fortune, December, 9.
Ashley, C., & Tuten, T. (2015). Creative strategies in social media marketing: An exploratory study of branded social content and consumer engagement. Psychology & Marketing, 32(1), 15-27.
Chen, Y., & Perez, Y. (2018). Business model design: lessons learned from Tesla Motors. In Towards a Sustainable Economy (pp. 53-69). Springer, Cham.
Culotta, A., & Cutler, J. (2016). Mining brand perceptions from twitter social networks. Marketing science, 35(3), 343-362.
Green, E. H., Skerlos, S. J., & Winebrake, J. J. (2014). Increasing electric vehicle policy efficiency and effectiveness by reducing mainstream market bias. Energy Policy, 65, 562-566.
Hardman, S., Shiu, E., & Steinberger-Wilckens, R. (2015). Changing the fate of Fuel Cell Vehicles: Can lessons be learnt from Tesla Motors?. international journal of hydrogen energy, 40(4), 1625-1638.
Kanagal, N. B. (2015). Innovation and product innovation in marketing strategy. Journal of Management and marketing research, 18, 1-25.
Ottman, J. (2017). The new rules of green marketing: Strategies, tools, and inspiration for sustainable branding. Routledge.
Ratkovi?, M. C., Krasulja, N. D., & Gara?a, N. (2013). Customer relationship management strategy as an opportunity for improving the modern marketing concept. Kultura, (139), 381-395.
Reinecke, S. (2014). On the Way to Sustainable Transportation. Marketing Review St. Gallen, 31(5), 84-88.
Schmidt, G., & van der Rhee, B. (2014). How to position your innovation in the marketplace. MIT Sloan Management Review, 55(2), 17.
Stringham, E. P., Miller, J. K., & Clark, J. R. (2015). Overcoming barriers to entry in an established industry: Tesla Motors. California Management Review, 57(4), 85-103.
talkwalker.com. (2018). Tesla’s successful marketing strategy shows that it’s time for CEOs to get social. Retrieved from https://www.talkwalker.com/blog/tesla-marketing-strategy-social-ceo
Tesla.com. (2018). Electric Cars, Solar Panels & Clean Energy Storage | Tesla. Retrieved from https://www.tesla.com/
wearesocial.com/au. (2018). 2018 DIGITAL REPORT – AUSTRALIA – We Are Social Australia. Retrieved from https://wearesocial.com/au/blog/2018/02/2018-digital-report-australia
Zhou, Y., Wang, M., Hao, H., Johnson, L., & Wang, H. (2015). Plug-in electric vehicle market penetration and incentives: a global review. Mitigation and Adaptation Strategies for Global Change, 20(5), 777-795.
Situation analysis
Identification of the target customers
Primary target customers for Tesla are the rich professionals who are having the purchasing power of spending premium in buying cars. In addition, customers who are more environmentally conscious and aware are also the target customers for Tesla due to the fact that they will more prefers electric vehicles over the gasoline powered vehicles (Reinecke, 2014). In terms of age groups, middle age customers are targeted due to the reason that they are more accustomed with the latest technology and they will also prefer the higher performance of Tesla cars. These customer segments are updated in terms of usage of technology and it is helping Tesla in involving more technologies in their business policy (Kanagal, 2015). On the other hand, customers seeking higher and better performance and acceleration from their cars will also be targeted due to the fact that cars of Tesla will be able to fulfill on these needs. In terms of geographical segmentation, customers from the urban and tier I locations will be targeted in the initial stage. This is due to the reason that favorable infrastructure is required for the electric vehicles such as charging points. These facilities can be made available in the urban areas more effectively.
Identification of the strengths
One of the major strengths for Tesla is their expertise in producing electric vehicles. They are the only car producer in the world with having the entire concentration on producing electric vehicles. Thus, their expertise is more compared to other conventional car markers. In addition, the popularity of the cars of Tesla helped them in becoming synonymous with the electric vehicle category (Hardman, Shiu & Steinberger-Wilckens, 2015). Thus, it is beneficial for Tesla to push their products in the new market such as Australian market. In addition, the current trend of awareness among the average customers in Australia regarding the emission from motor vehicles will also help Tesla to market their products in the Australian market. Tesla will be able to market their cars as more performance oriented as well as environmental friendly in the Australian market. Another major strength for Tesla is their distinctive marketing and distribution strategy (Ratkovic, Krasulja & Garaca, 2013). Tesla is the only car maker in the current time, which is having their showrooms in the shopping malls. In addition, customers are given the opportunity to experience the virtual tour of the cars of Tesla. These strategies of Tesla will further help them in staying ahead in the competition in the Australian market.
Identification of weaknesses
One of the major weaknesses for Tesla is limited brad value and identity compared to their competitors. Though, Tesla has gained immense popularity in the recent time, but it is not enough to match the brand value of the players such as Volkswagen and Toyota. Thus, they have to fight it hard in gaining favorable market share in the Australian market. In addition, the use of updated technologies in offering services to the customers may have its own set of disadvantages. This is due to the reason that a limited portion of the target segment will be able to cope up with the technological advancement of Tesla (Stringham, Miller & Clark, 2015). Furthermore, Tesla is having currently not having any mass market and affordable cars rather than they are only having higher end cars in their portfolio. Thus, the customer attractiveness rate will be less for Tesla. On the other hand, other manufacturers are offering electric vehicles in cheaper rate. It is also leading to the need of effective media strategy including the social media strategy in making aware the customers regarding their value proposition (Chen & Perez, 2018).
Identification of the opportunities
It is reported that in the next two decades, electric vehicles will take up half of the total Australian fleet. This denotes that a good number of electric vehicles are going to be sold in the following years and Tesla is having the opportunity of tapping this market potentiality. It is also reported that demand for electric vehicles in the Australian market grew by more than 60 percent from 2016 to 2017 (Zhou et al., 2015). This is also denoting the brighter picture for business of Tesla in the Australian market. Currently, the available vehicles available in the Australian market are Nissan Leaf and Chevrolet Bolt. These cars also not performance oriented and thus Tesla will not have direct competition in operating in the Australian market (Green, Skerlos & Winebrake, 2014).
Identification of the positioning strategy
Tesla aims to position itself as a premium and higher end electric car maker in the Australian market. In their existing market of the United States and Canada, same positioning is being maintained by Tesla (Schmidt & van der Rhee, 2014). This will help Tesla to have less intensity of competition in the Australian market as very few competitors are operating in the higher end electric vehicle category. They aim to provide unique driving experience along with providence of newer features as premium offerings.
Social media objectives for Tesla
Current social media strategy of Tesla
One of the major characteristics of the social media strategy of Tesla is the online presence of their CEO Elon Musk. It is reported that Musk is one of the most popular and engaged CEO of any car makers in the social media especially in Twitter. He tweets in every single and smallest issue frequently compared to the periodical corporate tweets of other majority of the corporate CEOs (talkwalker.com, 2018). This is helping Tesla in attaining the maximum exposure in the social media platforms due to the reason that when a CEO is updating about each and everything of the brand, then the involvement of the social users will surely get enhanced. The charisma gained by Elon Musk is helping Tesla to get directly involved with the potential customers in the social media platforms and getting the insights of their taste and preference pattern (Anderson & November, 2013). This approach can be considered as one of most unique concepts due to the fact that it is quite unusual that a CEO is representing the brand from the front in the social media. This also reflects in the social media popularity of Tesla.
Figure: 1
Social media buzz of leading car makers
Source: (talkwalker.com, 2018)
The above data shows that Tesla is leading the social media buzz among all the car makers even by being the newest member in the automobile industry. On the other hand, Renault-Nissan partnership is the largest electric vehicle manufacturer in the world and still they are in the 12th position. This shows the effectiveness of the social media strategy of Tesla.
Another social media strategy being followed by Tesla is generating word of mouth among the public. In this case, they are following the social media strategy of Apple Inc. where social buzz is created for a certain product (Ottman, 2017). Tesla periodically use their Twitter handle in updating about their upcoming products and features in their existing products. These coupled with the innovation and technological advancements in their cars are helping Tesla to generate enough word of mouth and buzz in the market that they do not have the need for paid media (Culotta & Cutler, 2016). This is also pushing the sales of them where Tesla as a brand has become an aspiration for the customers over only being a car maker.
Recommended social media strategy
Though, Tesla is getting success by their existing approach of social media but still they should have some changes in their existing approaches in operating in Australia. This is due to the reason that social media trend in Australia is different to that of the western countries. In addition, the expectation and usage pattern of social media of the Australians is also different to what of the Americans. It is reported that Facebook is the most active social media platform in Australia and it is also having most active users followed by YouTube and Instagram and Whatsapp (wearesocial.com/au, 2018). Twitter is in lower position that denotes that active customer engagement strategy of Tesla through their Twitter handle will have limited effectiveness in the Australian market. Thus, it is recommended that Facebook should be more effectively used by Tesla in communicating with the Australian customers.
Figure: 2
Most active social media platforms in Australia
Source: (wearesocial.com/au, 2018)
Social media plan in Australia
Communicating through Facebook will not be same like communicating through twitter. This is due to the reason that with the help of Twitter, Tesla is being able to communicate in more personalized manner and can initiate one to one communication. This is not possible in the case of Facebook. Thus, in the case of Facebook, it is recommended that Tesla should analyze the average trend and pattern of the feedback of the users in designing their business strategy. In addition, it is also recommended that syncing the official twitter handle of Tesla with that of their Facebook account will help in generating the feedback of the Facebook users against the Twitter updates.
It is also recommended that photos and videos should be used more by Tesla for their Facebook page due to the fact that it will not involve one to one communication like in Twitter. Users will come up with their opinions against the photos and videos. These photos and videos should have some Australian perspective that will further help the local customers to relate with the brand and cultural differences can also be mitigated.
Action Plan
The given action plan outlines the procedures to be followed in the social media strategy for Tesla and has been designed for a time frame of 15 months.
Sr. No |
Activity |
Contents |
Costs |
Person Responsible |
Time frame |
1 |
Conducting market research |
In the given procedure, the organization will be conducting adequate market research with respect to the social media tools available and the manner in which these need to be invested. |
$2000 |
The Marketing Manager The Firm Head The research team |
2 months |
2. |
Deciding upon the social media platforms to be used |
In this step, the organization will decide upon the different social media platforms and tools which they can make use of based on their own capabilities and performance in general. |
$500 |
The Marketing Manager The Firm Head The research team |
1 month |
3. |
Assembling the team |
In the given step, the organization will establish a specific team with the help of which they will carry out their social media plans. |
$2000 |
The HR Executive The Marketing head The firm head |
1 month |
4. |
Implementation of various social media tools |
In the given procedure, the organization will be implementation all its plans related to the social media. These plans relate to online marketing, social media marketing and related mediums as given in the budget |
$18645 |
The HR Executive The Marketing head The team |
5 months |
5. |
Communication and promotion of the firm |
The plan and its components need to be successfully communicated throughout the essentially stakeholders and the different related parties so that they are successfully able to contribute to the firm. |
$300 |
The CEO The marketing head |
1 months |
6. |
Evaluation and control of the performance |
In the given step, the organization will be ensuring that they use of various metrics and social media analytics in order to ensure that they are successfully being able to handle the responses received and the efficiency of their advertisements or not. |
$3000 |
IT Developers Marketing head |
2 months |
Gantt chart
Budget
Particulars |
Units |
Cost per unit |
Total |
|
Social Media |
|
|
SUBTOTAL |
$10,645.00 |
|
15 |
$ 150.00 |
$ 2,250.00 |
|
|
16 |
$ 151.00 |
$ 2,416.00 |
|
|
10 |
$ 152.00 |
$ 1,520.00 |
|
|
17 |
$ 153.00 |
$ 2,601.00 |
|
Google+ |
2 |
$ 154.00 |
$ 308.00 |
|
|
10 |
$ 155.00 |
$ 1,550.00 |
|
Online |
|
|
SUBTOTAL |
$ 8,000.00 |
Blog |
8 |
$ 1,000.00 |
$ 8,000.00 |
|
Website |
$ – |
|||
Mobile App |
$ – |
|||
Mobile Alerts |
$ – |
|||
Email Newsletter |
$ – |
|||
|
$ – |
|||
Web |
|
|
SUBTOTAL |
$ 3,000.00 |
Development |
3 |
$ 1,000.00 |
$ 3,000.00 |
|
Pay-Per-Click Marketing |
$ – |
|||
SEO |
$ – |
|||
|
$ – |
|||
|
$ – |
|||
Market Research |
|
|
SUBTOTAL |
$ 2,000.00 |
Surveys |
10 |
$ 200.00 |
$ 2,000.00 |
|
Impact Studies |
$ – |
|||
|
$ – |
|||
Total |
$ 23,645.00 |
Conclusion:
This report concludes that Tesla is having own sets of positive and negative business factors. However, their immense popularity in short term will help them to tap the Australian market also. In this report, the current social media strategies of Tesla are being discussed and it is identified that their existing strategies are effective in the western countries but may not be in the Australian market. Accordingly, this report has recommended a few social media strategies that will further help Tesla to connect with the Australian customers effectively. In addition, these recommended strategies will also help Tesla to have the maximum exposure in the Australian market.
In the current time, social media plays an important role in marketing strategy of the contemporary business organizations. This is due to the reason that different social media platforms such as facebook and Twitter are having huge number of active subscribers and this population can be targeted with the help of effective and efficient social media strategy (Ashley & Tuten, 2015). However it is also to be noted that trend of social media marketing is changing with time and more innovative forms are being initiated by the business organizations. Thus, for the contemporary business organizations, it is important to design the social media strategy effectively by considering different factors.
Tesla is a leading name in the current automobile market with having the distinction of initiation the electric vehicle revolution in the global car industry. They first initiated the fact that electric vehicles can also be practical as well performance oriented also similar to the gasoline vehicles (Tesla.com, 2018). However, with the growing popularity of the electric vehicles, more manufacturers are coming up with their own range of electric vehicles. This is posing threat to the business and profitability of Tesla. In addition, Tesla also changed the existing model or trend of doing business in car industry by becoming more online oriented company over their conventional competitors. Thus, social media is an integral part of the marketing strategy of Tesla.
This report will discuss about the current social media strategy followed by Tesla along with discussing the recommended changes in their policy. In addition, this report will also discuss about the positive and negative business factors of Tesla along with determination of the target customers.
Reference:
Anderson, C., & November, F. (2013). The shared genius of Elon Musk and Steve Jobs. Fortune, December, 9.
Ashley, C., & Tuten, T. (2015). Creative strategies in social media marketing: An exploratory study of branded social content and consumer engagement. Psychology & Marketing, 32(1), 15-27.
Chen, Y., & Perez, Y. (2018). Business model design: lessons learned from Tesla Motors. In Towards a Sustainable Economy (pp. 53-69). Springer, Cham.
Culotta, A., & Cutler, J. (2016). Mining brand perceptions from twitter social networks. Marketing science, 35(3), 343-362.
Green, E. H., Skerlos, S. J., & Winebrake, J. J. (2014). Increasing electric vehicle policy efficiency and effectiveness by reducing mainstream market bias. Energy Policy, 65, 562-566.
Hardman, S., Shiu, E., & Steinberger-Wilckens, R. (2015). Changing the fate of Fuel Cell Vehicles: Can lessons be learnt from Tesla Motors?. international journal of hydrogen energy, 40(4), 1625-1638.
Kanagal, N. B. (2015). Innovation and product innovation in marketing strategy. Journal of Management and marketing research, 18, 1-25.
Ottman, J. (2017). The new rules of green marketing: Strategies, tools, and inspiration for sustainable branding. Routledge.
Ratkovi?, M. C., Krasulja, N. D., & Gara?a, N. (2013). Customer relationship management strategy as an opportunity for improving the modern marketing concept. Kultura, (139), 381-395.
Reinecke, S. (2014). On the Way to Sustainable Transportation. Marketing Review St. Gallen, 31(5), 84-88.
Schmidt, G., & van der Rhee, B. (2014). How to position your innovation in the marketplace. MIT Sloan Management Review, 55(2), 17.
Stringham, E. P., Miller, J. K., & Clark, J. R. (2015). Overcoming barriers to entry in an established industry: Tesla Motors. California Management Review, 57(4), 85-103.
talkwalker.com. (2018). Tesla’s successful marketing strategy shows that it’s time for CEOs to get social. Retrieved from https://www.talkwalker.com/blog/tesla-marketing-strategy-social-ceo
Tesla.com. (2018). Electric Cars, Solar Panels & Clean Energy Storage | Tesla. Retrieved from https://www.tesla.com/
wearesocial.com/au. (2018). 2018 DIGITAL REPORT – AUSTRALIA – We Are Social Australia. Retrieved from https://wearesocial.com/au/blog/2018/02/2018-digital-report-australia
Zhou, Y., Wang, M., Hao, H., Johnson, L., & Wang, H. (2015). Plug-in electric vehicle market penetration and incentives: a global review. Mitigation and Adaptation Strategies for Global Change, 20(5), 777-795.
Essay Writing Service Features
Our Experience
No matter how complex your assignment is, we can find the right professional for your specific task. Contact Essay is an essay writing company that hires only the smartest minds to help you with your projects. Our expertise allows us to provide students with high-quality academic writing, editing & proofreading services.Free Features
Free revision policy
$10Free bibliography & reference
$8Free title page
$8Free formatting
$8How Our Essay Writing Service Works
First, you will need to complete an order form. It's not difficult but, in case there is anything you find not to be clear, you may always call us so that we can guide you through it. On the order form, you will need to include some basic information concerning your order: subject, topic, number of pages, etc. We also encourage our clients to upload any relevant information or sources that will help.
Complete the order formOnce we have all the information and instructions that we need, we select the most suitable writer for your assignment. While everything seems to be clear, the writer, who has complete knowledge of the subject, may need clarification from you. It is at that point that you would receive a call or email from us.
Writer’s assignmentAs soon as the writer has finished, it will be delivered both to the website and to your email address so that you will not miss it. If your deadline is close at hand, we will place a call to you to make sure that you receive the paper on time.
Completing the order and download