The key role of a marketing plan is to determine the key marketing elements; while planning the objectives and activities of the business using both internal and external as influences to achieve the goals set out. The main focus of the marketing plan is to clarify four issues, for instance, price, promotion, product and place. The marketing plan is a written document that states the key actions to achieve the marketing objectives. It covers a period of one to five years. According to (Fifield, 2007), the importance of this is to specify the plan from the general objectives to single action plan.
A market plan can be very important when a company is introducing a new product or service or even a line of new products to customers. These plans should have details on the products and the target audience to ensure that the product is successful within the market. For instance, my company had introduced home entertainment service in 2015. We did our market research and developed our market plan according to the market.
The marketing plan can be designed in different ways; for example, on a piece of napkin or a PowerPoint slide presentation. However, the most commonly used structure is the AOSTC format. This structure stands for Analysis, Objective, Tactics and Control. Analysis deals with the state of affairs of the business at the time the plan is drafted. This section is made up of two subcategories called external audit and internal audit. In the internal audit, an individual can find the state of affairs, problems affecting the marketing, the sales history, budgets and structure of the business. On the other hand, external audit deals with outside environment like the competitors who will response to the plan. Tactics will be used to outline the ways a business can achieve the objectives of the company one by one. Control is the way how a company can measure the achievement of the objectives.
Tesla Motors marketing plan showed the objectives of the company.
• Generation of a greater demand needs to be made by the company Tesla and also helps in the generation of leads for the marketing team
• Tesla wants to build the brand image and also wants to make the brand awareness among the new group of customers
• There is a need for the management of the customers through the loyalty and the customer referrals
• Encouraging the input of the customers through the development of the products
Tesla SWOT Analysis
• The cost will be low with the outsourcing of the secondary component, which would help in keeping the cost low and helps in the advancement of technology. This will help in developing a strong R and D.
• There is a lean management system where the workers they are able to work in the small and decorated offices. This would make the decision making more simplified and helps in the building of trust between the employees and the managers
• There is a strategic relationship of the company with the with the companies like Panasonic , Toyota Motors and Daimler which is seen to benefit both the companies
• The company Tesla faces the problem of liquidity. Even though there has been a huge sales of Model S in 2013 but there has been a significant loss due to high amount of debt , low demand from the clients and lack of controlling the costs.
• The capacity of manufacturing is limited, which is a reason that it would not be able to meet the customer demand in the future. There is shortage of lithium cell batteries.
• There is no strong history of company Tesla unlike that of the Ford and GM company.
• The most important change involves the benefits from the use of the electric cars and the growing concerns related to the environment.
• The company Tesla would be able to grow with additional subsidy from the government
• There are a number of sellers of electric vehicles who are seen to provide quality cars at a much affordable rate.
• The competitors they are able to provide the hydrogen technology based powered vehicle
Anderson, D. (2012). Strategic marketing planning for the small to medium-sized business. New York, N.Y. (222 East 46th Street, New York, NY 10017): Business Expert Press.
Baker, M. (2014). Marketing strategy and management.
Fifield, P. 2007. ” Marketing strategy the different between marketing and markets.”