High-quality and authentic content
on every custom paper

  • All papers written from scratch
  • We hire professional writers only
  • Original and creative work
  • Timely delivery guaranteed
  • Variety of disciplines, topics, and deadlines
  • 100% confidentiality guarantee

Order Now

Social, Ethical, and Legal Implication

Social, Ethical, and Legal Implications
Purpose of Assignment
The purpose of this assignment is to help students think through the importance of social, legal, and ethical issues that may arise with their product or service and the implications of decisions made within those frameworks. It is designed to help the learners understand ethical and legal issues related to marketing practices. This knowledge helps to prevent such issues when developing the marketing strategies in their marketing plan. The executive overview of the marketing plan is not a summary and conclusion, but an overview of what the plan entails and what it does not address.
Assignment Steps
Note: the Social, Ethical, and Legal Implications assignment is part of the total marketing plan as outlined in the grading guide. It is not a separate paper.
Producing and marketing a product without regard to ethical, legal, and social considerations is detrimental to the overall success of any company.
Assess in a maximum of 700 words the ethical, legal, and social issues affecting your product (Our Product is Tesla) or service in two markets: the United States and one international market. Domestic market generally means the market where the company headquarters are located. If you choose a domestic market that is not the U.S., then your other market is required to be the U.S. marketplace. This will be added to the Target Market section of your Marketing Plan.
Include the following:
• Develop a process to monitor and control marketing performance. This process could be a flowchart but a flowchart is not required (flowcharts do not count towards your word count requirement).
Formulate a maximum 350-word executive summary including at a minimum the following elements to include in your marketing plan:
• Required executive summary elements:
o Strategic Objectives
o Products or Services
• Optional executive summary elements:
o Resources Needed
o Projected Outcomes
Integrate the previous weeks\’ sections, social, ethical, and legal implications, and executive summary into the marketing plan. Incorporate them. The marketing plan should be a minimum of 3,850 (I’ve enclosed/attached week 2 through week 5, which should sum up to 3, 850 words INCLUDING THE 700 WORDS ABOVE TO ASSESS, AND 350 WORDS ABOVE TO FORMULATE) and include the following:
• Incorporate Understanding Target Markets (Week 2) Enclosed
• Incorporate Promotion and the Product Life Cycle (Week 3) Enclosed
• Incorporate Price and Channel Strategy (Week 4) Enclosed
• Incorporate Marketing Communication and Brand Strategy (Week 5) Enclosed
• Incorporate Executive Summary, Legal, Social and Ethical Considerations (Week 6)
Cite a minimum of three peer-reviewed references.
Include all peer-reviewed references from the previous weeks\’ individual assignments in your marketing plan.

WEEK 2 UNDERSTANDING TARGET MARKETS
Understanding target market
Introduction
Telsa Motors is a renowned universal enterprise that, mainly designs, manufactures and markets electric mechanical vehicles and components. Currently, it’s the sole vehicle manufacturer selling zero emission sports cars regarding serial production (Farhan & Tech, 2016). Moreover, it is presently expanding this technological benefit to the superfluity vehicle sedan market. Tesla’s strategy about vending lustrous, eco-friendly designs at high margins rebounds Apple Computer’s business model in a bid to accomplish the escalating demands for the electric and hybrid vehicles (Tansel, 2015). In spite of the major universal strides made by Tesla regarding the technological advancements, global branding, and market acceptance, it remains a relatively young company in emerging industry in comparison to the over 150-year-old internal combustion vehicle industry.
Consumer analysis of Tesla Motors
Tesla Motors’ target is small because the owners are frequently referred as the affluent environmentalist. With the current new developing popularity of the underlying Model S, their primary target audience is relatively older wealthy individuals who are perceived as too real-world to purchase their respective own roadster edition. Moreover, Tesla is also targeting the relatively fresher generations that frequently desire to develop reputation and status.
The primary consumer of the Tesla Motors cars is a person who wants a combination of functionality, performance, and elegance as well as energy proficiency (Tansel, 2015). Tesla Motors segments markets in the drivers who perceive EV’s as a symbol of their respective commitment to the underlying environment, drivers who mainly consider technology to be fresh and epitomize cutting edge invention and the economic drivers who need to decrease their actual travel costs utilizing an EV (Krebs, 2016).
Tesla also recognizes that it distinguishes itself from its corresponding competitors regarding delivery of the most environmentally responsible vehicles on the market with the entire profits of the premium care (Farhan & Tech, 2016). Telsa is utilizing numerous celebrities to approve their respective products.
Environmental scanning of Tesla
In a bid for the Tesla Motors to be competitive within the existing electric car market and corresponding solar cell market, there is a need to both examine internal and external environments (Tansel, 2015). Moreover, Tesla’s competitive benefit coupled with strategies is mainly to create significant value.
SWOT Analysis (Internal Factors)
Strengths:
Robust HR department solely employs qualified high technological proficiency regarding the electric transmissions and drive trains.
Weakness:
The company exclusively sells electric cars, and its current market is still small compared to the similar fossil cars. It has insufficient charging stations, short battery range, and deficiency of suitable brand name appreciation (Tansel, 2015). Moreover, the company has been in the business for a relatively shorter duration.
SWOT Analysis (External Factors)
Opportunities:
CEO mainly believes in the peak oil, increasing consumer feeling and big global market. Moreover, the management of Tesla Motors also believes in the government assistance, escalating awareness coupled with support from the real environmentalist (Tansel, 2015).
Threats:
The dominate care companies are drastically expanding into the existing electric vehicle market with feasible internal combustions which pose a significant threat to the target and expansion of the enterprise.
Economic forces
Financial situations play a significant role regarding the consumer purchases and massively affect car purchasing behavior. As Tesla Motors continues to recover from the 2008 recession, cat sales are escalating, and clients are looking to substitute relatively older vehicles, and Tesla plans to take advantage of the underlying opportunity to provide EVs to a relatively bigger market to the consumers in the few coming years (Krebs, 2016).
Social forces
Tesla’s long term mainly plan to incorporate constructing a broad range of the superfluity and reasonably priced family cars. Moreover, the company has commenced the execution of the program by basically introducing the Model X that purely targets the wealthy female car buyer (Farhan & Tech, 2016).
Technological forces
Tesla Motors is most assuredly impacted by the alterations regarding the technology sector and profoundly ventures in research and advancement and are employing top talent (Tansel, 2015). Numerous largest problems EV manufacturers and clients encounter revolve around the current production costs coupled with the battery charging technology and Tesla Motors hopes to outdo its competitors.
Regulatory and Legal forces
Requirements have been forced to create and issue adequate energy models, particularly by the Big 3 that has resulted to the US Auto Industry bailout (Krebs, 2016). Moreover, in certain states in the US have forbidden straight to clients sale of the vehicles
Regulatory measures aid in decreasing greenhouse gasses and energy consumption as well as escalating the environmental energy and economic security of nations have been executed universally (Tansel, 2015). Moreover, this has compelled the automakers to advance the existing technology and efficiency of their respective vehicles thus incentivized new companies to penetrate the market.
Ecological forces
Whereas the energy efficient vehicle market was principally propelled previously using environmental cognizant, other drivers entailing the monetary and governing have resulted in an escalation of demand in the latest years (Farhan & Tech, 2016).
Target Market section
Tesla can utilize a geographical subdivision since the gas prices frequently differ according to region thus making it to the main emphasis in marketing to the people that reside in the locations with higher prices. With the current geographic segmentation, Tesla is capable of excluding certain countries where the gas solely costs fifteen cents per gallon (Tansel, 2015).
Utilizing demographic subdivision, Tesla can use its existing resources solely to individuals that can afford. For instance, Tesla can exclusively market the underlying Roadster S to the essential males of 30 years and have relatively higher income (Krebs, 2016).
Regarding the psychographic segmentation, Tesla can view people’s activities and see if they are content with traveling within their respective present cars or if they are looking for substitute cars (Tansel, 2015). Moreover, Tesla can also segment by the individuals’ interest by determining the number and the kind of people that are engrossed in reducing their respective costs to a few cents.
Analysis of the demographic and psychographic data regarding Tesla Motors can solely market the underlying Roadster S to the males of 30 years having relatively higher income. Moreover, it only targets people who require reducing their expenditure.
In summation, Tesla’s strategy mainly pertains to vending lustrous, eco-friendly designs. Telsa Motors’ target is small because the owners are frequently referred as the affluent environmentalist. Tesla’s competitive benefit coupled with strategies has mainly assisted it in creating significant value.
References
Farhan, M., & Tech, C. E. B. (2016). Marketing of Electric Cars.
Krebs, S. (2016). Silent by design? Tesla\’s Model S and the discourse on electric vehicle sound: Tesla Motors Germany, Model S 85D (2015). Sound Studies, 2(1), 93-95.
Tansel, A. K. (2015). Analysis of Tesla Motors’ Marketing Communications Strategy.

WEEK 3 PROMOTION AND PRODUCT LIFE CYCLE
Promotion and the Product Life Cycle
Every new product goes through several stages in sequential order beginning with the introduction and ending in decline. A product passes through four stages comprising of the following: introduction, growth, maturity and finally, decline (Hestad, 2013). Even though not every product adopts this life cycle, this is the most common life cycle for a majority of products. The stage of a product within its life cycle is an important determinant in the positioning of a new product with its price, marketing, and distribution. Every stage of the life cycle of a product is different, and as such, requires the correct promotional strategies unique to the stage.
Tesla Incorporated is an automotive company based in California, United States. The company is specialized in the production of electric cars, lithium-ion battery technology as well as solar panels. The subsidiary, Solar City, is responsible for the production of solar panels for residential purposes. The introduction stage of any product begins when a product is first launched into a market. During this stage, a product previously unknown is introduced to buyers (Hardy, 2010). Tesla Inc. was at this stage when introduced by their first product, the Tesla Roadster. This was a two-door sports car which was completely powered by electricity. The breakthrough product in the automotive industry considering the first production electric car capable of a mileage of more than 200 miles on a single charge. As a newcomer to the automotive industry, Tesla had to invest heavily in the promotion of their product. Rather than use the conventional method of using dealership networks for their distribution, and opted to use a multichannel model used online stores and retail outlets.
The growth stage is characterized by an increase of market share and building of brand preference (Lawley & Cohen, 2010). During this stage, the quality of the product is maintained and improved through additional features while distribution channels are increased to meet increasing demand. Tesla Inc. has drastically increased the number of superchargers. The expansion of supercharger network was to meet the increasing demand for cars. The network of superchargers enables owners of Tesla automobiles to use high-performance chargers free of charge. In an attempt to remain competitive, Tesla has challenged the traditional model of improving the quality of their cars. Similar to gadgets such as smartphones and personal computers, Tesla releases software updates to their cars to improve their functionality. As such, Tesla can continuously modify and improve the cars for much longer as compared to other car manufacturers. This establishes strong brand loyalty among their consumers. During the maturity stage, strong growth in sales diminishes, and competition begins to emerge with similar products. Pricing may also begin to become more competitive to lure customers away from competition (Hestad, 2013). Following the success of Tesla’s cars, other competitors have begun emerging in the market. The Lucid Air is a luxury sedan targeted squarely at competing with Tesla’s Model S. has an impressive design and can reach speeds of up to 235 miles per hour. In a bid to appeal to the average consumer, Tesla has also announced producing the Tesla Model 3, which will cost $35,000.
Measuring the success or failure of Tesla’s products will involve different aspects of the product launch. This would require the launch efforts of the marketing of the product are measured. This is because the success of a product is determined by how users are attracted to try the product (Lawley & Cohen, 2010). Measuring user engagement is another important aspect in gauging whether a product will be successful or not. In as much as attracting users to use a product is vital, a bigger challenge is retaining customers and compelling them to stay. Measuring the experience of users and their engagement with the product can indicate success or failure. For instance, user engagement can be tracked using the website of a company. Tesla could track the number of users on the websites and the product pages they frequently visit, the time they spend on these product pages and the number of actions each user initiates for each session (Hardy, 2010). Even though tracking users provides useful information, only key performance indicators and metrics are worth being reported. Tesla, could, for instance, track sign-ups for newsletters, sales of the cars, revenue or subscriptions to the services.
The media is the platform which enables product producers to meet and display their products to the consumer. Tesla could incorporate the use of both print and non-print media in the promotion of their products. Magazines are an excellent way to present a product to the target audience. Tesla could use monthly issues of popular car magazines to promote their products. A discount code could be provided to readers which they could redeem at checkout when they decide to purchase a Tesla automobile. A marketing strategy in non-print media could involve the use of online competitions (Hardy, 2010). Tesla could hold a competition challenging people to express why they would want a Tesla through a post on social media. The posts would then be reviewed and the winner is chosen based on factors such as the content of the post and the audience reached. A giveaway in the form of a car or a top spot on the waiting list for a pre-production model would be offered to the winner of the competition.
The positioning of Tesla’s products should be targeted at specific segments of the market. Tesla’s products such as the Model S and the Roadster were targeted at the luxury market. The Tesla Model # is aimed at the average consumer based on more affordable price of $35,000. Tesla could adopt a media strategy involving the use of both print media and non-print media to reach a wider audience for their products. Direct marketing could be achieved through the use of a mail subscription service informing potential customers regarding the development of new models.
References
Hardy, J. (2010). Cross-media promotion. New York: Peter Lang.
Hestad, M. (2013). Branding and product design. Farnham: Gower.
Lawley, B., & Cohen, G. (2010). 42 rules of product management. Cupertino, CA: Super Star Press.

WEEK 4 PRICE CHANNEL STRATEGY
Price and Channel Strategy
The success of a product is significantly determined by the pricing and the distribution model. Pricing refers to the method by which a producer determines the value obtainable from the sale of a good or a service. The primary objective of any producer in business is to earn profits. For this reason, the importance of pricing is carefully determined to ensure the success of a particular product. Factors to be considered during pricing include the nature of the product, the target audience, the prices of similar products in the market, the costs of production, and external factors such as the economy, regulations and government policies (Kotler & Keller, 2015). Distribution channels are the intermediaries which a product passes through as they move from the producer to the consumer. Distribution channels could either be direct, involving consumers purchasing goods directly from the producer, and indirect channels involving wholesalers or retailers.
Tesla Inc. is an automotive company which is based in California, United States. The company specializes in the production of electric cars, lithium-ion battery technology as well as solar panels. The distribution strategies adopted by a producer significantly determines the reception of a product into the market (Schindler, 2012). In the automotive industry, companies have traditionally used dealerships as intermediaries between their products and customers. Companies would have to have large inventories of cars which would then be supplied to respective distribution dealership franchises for sale to consumers. Tesla goes against this conventional model by using their own distribution channel. Rather than using dealerships as intermediaries between their customers and themselves, they use their own distribution channel comprising company-owned retail outlets and online stores.
Rather than have a large inventory of cars ready to be sold to consumers after being test-driven, Tesla has adopted a distribution strategy involving the use of retail stores and showrooms where consumers can view a sample car. Customers would then make their order and wait for the product to be fulfilled. Instead of using dealerships to sell the cars, Tesla has opted to use their own retail stores and gallery locations located in high traffic areas with high visibility. Places such as malls and shopping centers enable people to be able to visit while they are in open-minded in their purchasing decisions. These retail shops, customers are given the opportunity of interacting with product specialists from Tesla who educate them about the cars from Tesla and the advantages they offer over gasoline-powered vehicles before making the decision to buy a car. Due to the relatively new technology of electric cars, people are given information regarding the technology behind electric cars in general.
Positioning is another aspect of a product which determines the success in the market (Kotler & Keller, 2015). Tesla has positioned themselves as a producer of luxury electric automobiles capable of covering long range. This is a unique position in the automobile industry Tesla has carved out for. This is because they are selling new technology which is emergent in the market. The positioning of Tesla makes their cars different from cheap electric cars and luxury cars powered by gasoline. Due to their uniqueness position in the market, Tesla has had to build up the infrastructure and support necessary for the operations of their business. As such, Tesla has had to build a comprehensive network of superchargers across the United States, centers for exchanging batteries and service centers. The luxury market accounts for almost half of the revenue of the automotive industry despite comprising of only 10 percent of total unit sales. This positioning has been beneficial to Tesla as they have made their strategy difficult for competitors to challenge Tesla as they cannot risk losing their market shares in this profitable segment of the market through the development of a failed luxury car.
Pricing strategies have major implications to the attraction and retention of customers. A static pricing strategy refers to the use of a fixed price point and maintaining pricing over a period of time. A dynamic pricing strategy, on the other hand, refers to the use of a price point which changes over time. Choosing the right pricing strategy determines how a producer is able to attract and achieve maximum profit margins for the products (Schindler, 2012). Tesla adopting a static pricing strategy is bound to offer more benefits than a dynamic pricing strategy. This will inevitably attract more customers as this will portray Tesla as being reliable. Hence customers are assured of the prices they need to pay for a car when they finally decide to make a purchasing decision. The consistency of a fixed price also makes customers more familiar with the pricing of a company. This offers a company a much lower risk of offending the customers by prices which continuously fluctuate over time (Lawley & Cohen, 2010). Having a fixed price point for the product will also enable Tesla to be able to easily forecast sales of the cares and estimates for their profits. For instance, while entering the Chinese market, Tesla has adopted a fixed pricing strategy for the Model S. This offers the company the advantage of being able to easily forecast the profits in hopes to make in this new market.
References
Kotler, P., & Keller, K. (2015). Marketing management (15th ed.). London: Pearson Education.
Lawley, B., & Cohen, G. (2010). 42 rules of product management. Cupertino, CA: Super Star Press.
Schindler, R. (2012). Pricing strategies. Thousand Oaks, Calif.: Sage Publications, Inc

WEEK 5 MARKETING COMMUNICATION AND BRANDING STRATEGY

Marketing, Communication and Branding Strategy for Tesla Company
Overview
Among the leading innovators in electric car technologies today, Tesla Motors has undoubtedly sealed their mark as a remarkable automotive company globally. Located at headquarters in Silicon Valley, California, the company largely specializes in the manufacturing and selling of electrical cars and a range of other electric automobile components. Over the years, Tesla has gained enormous attention as a game changer in the automobile industry especially with the launch of the first fully electric sports car branded as the Tesla Roadster, and the Model ‘S’ which is an efficient and luxurious electric sedan (Eberhard and Tarpenning, 2006).
As the only automaker licensed to manufacture and distribute highway-efficient electric vehicles, the company is constantly under pressure to perform. To attain such spectacular goals in the electric Vehicle industry, there is a need to create a plan to integrates marketing, communication and branding. In doing so, this ensures the electric vehicle industry continues to grow, Tesla Inc is able to steer further expansions and increase their resources. This is a strategy way of affirming the company’s relevance to its customers and potential customers while gaining market competitiveness as a leading electric car company in the future.
• Situational Analysis:
o Vision, Mission, Strategic objectives, Values
Vision
Since inception, Tesla Motors has believed in the ability to infuse both the automobile and technological worlds in creating an innovative product equally outstanding in design, performance, comfort and efficiency. As such, the company has worked tremendously hard to prove electric cars are not a sacrificial mode of transport but rather as a game changer in propelling the world towards a cleaner and eco-friendly use of electric power. Through their latest manufactured models, Tesla has diminished previous perceptions by creating excellent and exciting automobiles, viable alternative, therefore setting a strong foundation not only in the present by also in the future automobile industry (Mangram, 2012).
Mission
The development and growth of Tesla Motors is intently grounded in offering a comprehensive customer experience and satisfaction when using Tesla products. The company relies on customer feedback while striving to achieve efficiency in operations, management of inventory costs, pricing, warranty service and the overall creation of the Tesla brand name.
Strategic Objectives
– Generating global demand for Tesla vehicles by creating an in-depth awareness on improved safety is a consolidated plan to regain trust in both target market and existing customer base.
– Focus on building long-term awareness of the Tesla Inc. as a safeguarded approach in ensuring both loyal and potential customers have access to reliable and stylish automobiles.
– Involve the customer in the developmental process to create an opportunity for customers to understand the benefits of Tesla vehicles.
– Increase sales and social media presence
o Strengths/Weaknesses
Strengths
– According to the National Highway and Traffic Association, of all the cars rated, Tesla was ranked with the highest safety levels. In addition, Tesla can boost of awards received such the Automobile of the Year by the Automobile Magazine 2013 (Mangram, 2012).
– Tesla produces electric cars which not only provide quality, luxury and comfort, the sophisticated technology adopted ensures their performance quality is not compromised.
– An electric car, also a quality luxury product, offering sophisticated software and technology and quality performance.
– The company boosts of over three hundred patents technologies
– Tesla enjoys a distinct selling strategy which allows the buyer to experience, firsthand the process of building an electric vehicle and eliminating the trying stage of middlemen in dealership shops.
Weaknesses
– With only 65 stores spread across the country, with an in store or online sale policy, Tesla is only able to reach a certain number of consumers. This may greatly limit exposure of the brand to new customers.
– In various occasions, Tesla has received reported cases involving malfunction of their batteries resulting to fires (Motors, 2015).
– Due to the nature of power use, Tesla vehicles are limited to a specific range of battery charge.
– Given Tesla is relatively a new and growing company; their market budget is slightly smaller leading to low brand awareness.
o Competitors Strength /Weakness
Strengths
– Innovative culture has given rise to comfortable, luxurious and attractive automobiles
– Financial and technological strengths have been acquired over the years
– Brand awareness
– Customer loyalty
Weaknesses
– High production costs are involved in the manufacturing process
– Many large car manufacturing companies have weak customer service due to the large number of people they are required to interact with, therefore lowering the quality of services offered
– There have been large call recalls from known car brands globally due to car defects

• Product, Place/Distribution, Promotion, Price Strategies
o Maintaining Brand Image
Tesla faces a huge challenge in maintaining their brand given the company is still new in the industry and masked by vast misconception on electric vehicles. In order to maintain their leading position in the electric car industry, the importance for Tesla to establish a consistency in quality and performance, while addressing setbacks such as the batteries malfunction. In addition, activities such as corporate social responsibility and diversification are some of the vital ways of ensuring Tesla brand is not forgotten.
o Media Strategy
With Tesla focusing on online sales, there is a major concern to review site traffic as a strategic way of ensuring proper and adequate consumer engagement. Tesla greatly suffers from a low online presence lagging way behind other similar brands are online. Hence, there need to improve the company’s communication strategy by use of tools such as Google Ads on website, social media platforms, use of magazines and newspapers. Effective implementation of these strategies will boost consumer traffic and generate an increase in revenue.

References
Eberhard, M., & Tarpenning, M. (2006). The 21st Century Electric Car Tesla Motors. Tesla Motors.
Mangram, M. E. (2012). The globalization of Tesla Motors: A Strategic Marketing Plan Analysis. Journal of Strategic Marketing, 20(4), 289-312.
Motors, T. (2015). Powerwall; Tesla Home Battery\’. Tesla Motors.

Category: Essays

We are here to help!

We have many custom Writing services, have a look at these below to find out more. View our Writting Samples View Client Testimonials Place your Order Now

Custom Written Work


Guaranteed on Time


Get The Grade You ordered