Student Instructions: Complete the following information about the organizati an

Question

Student Instructions: Complete the following information about the organizati and products and/or services you will focus on as you develop a complete marketing plan throughout the course. You may need to do research to get answers to the questions below. The subject for this assignment should be the organization and products and/or services you identified for the Marketing Plan, Part 1 Assignment. Marketing Information and Research Research Question Describe an important question you need to answer or a problem you are trying to solve in order to help the organization meet its goals and objectives.

Explanation / Answer

Company – Tesla

Product – Electric powered vehicles (passenger segment), Brand – Model 3

Research Question –Model 3 is built on highly differentiated technology, but will it be successful in generating demand from customers who have the option of cheaper products with similar performance from competition.

Information needed –

Recommended Research Method –

The Customer –

To define the Customer, we need to first reflect on the product. This is a highly differentiated product – scaling up the electricity fuelled vehicle segment. There are definite advantages in terms of not causing damage to the environment, like fossil fuel powered cars. Thus, the customer persona is someone who appreciates the sustainability factor and believes in consuming responsibly. He is also ahead of the curve, who likes new tech and is an “early adapter”. The brand “Tesla” has already built a positioning as a hi-tech product company, hence any product in their portfolio will have the cutting-edge technology base – this has also helped Tesla command a premium in product pricing over conventional tech. So, in summary, our Customer –

The Target segment will comprise of customer groups who meet these criteria. We can look at

Solving the Customer’s need (Problem) –

The targeted persona seeks to be differentiated and loves to experiment with a new technology. Model 3 answers to both these aspirations and the utility is widened when we look at emerging markets where leading technology has not yet penetrated fully.

Factors influencing customer decisions –

Reaching the Consumer –

Brand communication should be omni-channel but not at a mass scale. The target consumer loves differentiation so any mass media will not elicit response (Televeision, Print, etc). They are more inclined to respond to a “Pull” based approach.

Competitive Advantages –

Market Niche & Positioning Strategy –

The Niche for Model 3 are the consumers who look forward to using a differentiated product and are early adapters. They are less likely to respond to mass marketing and a wide distribution network which “pushes” products to consumers.

Positioning strategy will be based on these facets. The communication channels will also connote the same message. Recommended strategy is based on Differentiation and Sustainability.

Positioning Statement –

To the buyers of passenger cars (family sedan), Tesla Model 3 is the only family sedan that because it is a non-polluting vehicle with State of the Art Technology and promotes responsible consumption.

Branding

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