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MB 510 Strategic Marketing Of Service
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MB 510 Strategic Marketing Of Service
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Course Code: MB510
University: Stephen F. Austin State University
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Country: United States
Question:
You have been called in as a consultant and advisor by the Teals board. with the support of Edon Musk. Teals is concerned about how these trends may affect its future development plans. It counts on environmental scanning opens that have helped it to recognize global trends, such as those named above. It also has its own experience introducing several models of eketrically.powered vehicles. Further, it has studied the development of the SMART car, hybrid cars such as the Toyota Prins, other electric cars. etc.
Describe and evaluate the current business model of Tale. What are its strong points and weaknesses? You may supplement your business model analysis with a SWOT analysis and use of the George Day Strategic Marketing ftamework.
Answer:
Describing and evaluating the current business model of Tesla
Tesla’s Business model is not same as the other companies in the automobile industry the company has focus on energy innovations and derives vehicles, which are sustainable in term of energy consumptions. The business model of Tesla looks to a long term and futuristic basis. The aims of business model followed by Tesla are to produce products, which are compatible in both the present as well as the future market demands. It can be stated through the analysis of Tesla’s that the following has business model which thinks of the future and which creates futuristic advancement within the company giving the firm and competitive edge over others in the market (Menon et al. 2015).
SWOT analysis of Tesla
Strength
? Technological advancements
? Futuristic ideology
? Financial size
Weakness
? Product price
? Infrastructure
Opportunities
? Large market potential
? Innovations
? Lower price models
Threats
? Competition from established companies like Toyota
? Unpredictable future market conditions
Strengths: The Tesla has strength relating to the technological advancement, which it has in producing electric cars. It can be said that the company is technologically ahead of other in the current market situations. The company has also a well-settled futuristic ideology of producing cars compatible in future market demands. The company too has huge financial potential to comprehend its future operational activities (Solomon et al. 2014).
Weakness: The company although is technological advance the infrastructure currently within the company does not allows the firm to produce or innovate high number technological advance electric cars. The price is another weakness for the company as the prices are very high and are not easy to purchase for middle class individual.
Opportunities: the opportunities in front of the firm are high as will be future demands of electric cars increasing which will benefits the company. The company has huge future market which is valuable for the sales of the organization in the future. The company will eventually produce low price products, which will eventually raise its sales and demand.
Threats: It can be said that the only prominent threat which is there to the company is the rise of the established automobile companies in the electric car segment as they will serve customers too. Although one other threat is that the future is unpredictable in some terms as there can be another alternative option which can affect the electric cars sales in the market (Baker, 2014).
George Day strategic marketing framework
In accordance to the George day strategic framework it is important that the company follows the fool some in making their marketing strategies. Reaching consumers and other populations through digital platforms for the purpose advertising their products. Knowing the market needs and consumer demands is another aspect under. Based on this the company will need to have designer, engineers and other operators to make cars which are compatible in future demands and current market conditions. This will strengthen the company’s business approach and will help the firm in china sustainable development (Armstrong et al. 2015).
References
Armstrong, G., Kotler, P., Harker, M. and Brennan, R., 2015. Marketing: an introduction.
Baker, M.J., 2014. Marketing strategy and management. Macmillan International Higher Education.
Menon, A., Bharadwaj, S.G., Adidam, P.T. and Edison, S.W., 2015. Effective Marketing Strategy-Making: Antecedents and Consequences. In Proceedings of the 1997 Academy of Marketing Science (AMS) Annual Conference (pp. 224-224). Springer, Cham.
Solomon, M.R., Dahl, D.W., White, K., Zaichkowsky, J.L. and Polegato, R., 2014. Consumer behavior: Buying, having, and being (Vol. 10). London: Pearson.
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