Marketing Strategy of Tesla 

Tesla is the world’s leading American automobile manufacturing company that manufactures clean electrically manufactured electric vehicles. The company has established a worldwide reputation for renewable electric energy and high-quality electric vehicles for the public. Today, we’ll discuss the marketing strategy of Tesla; key elements of marketing strategy, and lessons to learn from the company’s strategic approach.

Vision Statement of Tesla

“Driving the world’s transition to electric vehicles”

The focus of Tesla’s product development strategic approach is much more than electric automobile manufacturing; the core value of the company is to change the way the world is traveling. The company wants creative and innovative solutions in the development of sustainable and safest medium of transport.

Mission Statement of Tesla

“Accelerate the world’s transition to sustainable energy”

The focus of Tesla’s establishment is to develop eco-friendly and environmentally sustainable products when the world is transforming into a new style of living. The company firmly believes in the fact that we can achieve sustainable methods of living now, rather than waiting years in the future.

Brand Positioning Statement of Tesla

Tesla’s brand positioning statement is as follows;

“We’re building a world powered by solar energy, running on batteries, and transported on electric vehicles. Explore the most recent impact of our product, people, and supply chain. We design sustainable systems that are massively sustainable – resulting in the greatest environmental benefit possible.”

Key Elements of the Marketing Strategy of Tesla

Some of the key elements of the marketing strategy of Tesla are as follows;

Digital Marketing Strategy

Elon Musk is the co-founder and CEO of Tesla and his blunt and outspoken approach has amplified the brand’s visibility to a great extent. Often, he engages in small conflicting arguments over social media, and his idealistic approach attracts the attention of a lot of followers. He has recently acquired the social media platform Twitter for 42 billion USD; his presence on social media does the marketing for Tesla.

Elon Musk loves to create buzz on social media platforms. For instance, his most recent video of testing the window glass of the cyber truck, and its focus wasn’t to break but it created a lot of buzz and amplified the marketing for Tesla.

Marketing Medium

Tesla employs a “direct sale” approach and doesn’t sell its automobiles in franchised dealerships. The automobile brand has established a worldwide network of galleries and showrooms where customers can directly buy vehicles. The brand has recently launched the “Service Plus” retail concept by integrating the direct sale approach with service centers.

The functionality of Tesla is completely different from traditional automobile companies; investors can’t buy the franchise of the company. The company has established sales centers and they sell the company’s vehicles and offer customer service afterward. This is because many franchise owners work for incentives, rewards, and commissions rather than working for the brand.

Target Customer Marketing

Tesla has launched various models of vehicles like Model S, X, 3, and Y with different eco-friendly features targeting various segments of the customer market. The company has taken a great step in integrating solar-powered technology with an energy framework to develop better products with improved performance.

When it comes to communicating with the target audience, Tesla has always followed an open and honest approach. If you carefully analyze the target audience of Tesla, then you will realize the clear market segmentation strategy of the company. However, the company offers eco-friendly and sustainable vehicles to a wide range of customers.

The demographic traits of Tesla’s target customer market are as follows;

• Elderly male of roundabout 54 years old
• Well-established families
• Executive professionals
• Senior managers
• Higher-income personals

For more detail, study the Marketing Mix of Tesla.

Competitive Strategy

Competitive pulling is a common approach in any field of business and industry, but Tesla has never engaged in any such practices. In fact, Tesla has always encouraged its competitors in the automobile industry in the production of electric cars. The focus of the marketing and promotional campaign of the company is not just to sell its premium vehicles and cars, but rather to support competitors in developing eco-friendly vehicles.

Tesla firmly believes in a healthy competitive environment. For instance, a China-based launched electric cars in the US; Tesla made it perfectly clear that its charging stations are for every electric car user.

Focused on Objectives

The objective of Tesla is to work toward a sustainable future by focusing on the vision and mission of building efficient electric cars. The company achieved its target within a decade. Now, the other mission and objective of the company is to become the provider of renewable sources of energy. In order to reach its goals and objectives, the company manufactures solar chargers as an alternative source of energy for homeowners.

Showroom Experience

The stores, showrooms, and galleries of Tesla offer an excellent customer experience. The company carefully chooses the location of its stores like highly crowded and traffic places; and offers environmentally sustainable information about electric vehicles at its stores. However, some of the key features of Tesla stores are as follows;

• Test drive facility
• Knowledgeable staff
• Interactive buyers
• Experience the brand firsthand

Limited Traditional Ads

Tesla invests limited capital resources in traditional media channels like TV, radio, and print media. Rather the focus of the company is to create buzz and offer an excellent customer experience. This unique strategy has allowed the company to attract the attention of the public and target the wide market with free publicity.

Customer Advocacy

Tesla has established a loyal database of customers by actively promoting its brand. Many Tesla car users share their experiences online and serve as brand ambassadors. However, the company supports its brand advocates by offering them remarkable customer service and the company develops a sense of community. The brand launches referral programs and offers rewards to existing customers for referring to new buyers.

Branding

Tesla has established a strong brand image by attaching its brand to innovation, luxury, and sustainability. The company attracts the attention of environmentally conscious and high quality preferring customers. Elon Musk plays a key role in establishing a strong brand image for the company through his personality and social media activity.

Product Differentiation

Tesla differentiated its brand by pioneering the production of electric vehicles, and the emphasis of the company is offering benefits and unique features to the customers. Some of the key differentiated features of the company are as follows;

• Environmental sustainability
• Long range capabilities
• High performance
• Latest cutting-edge technology

Lessons to Learn – Tesla Marketing Strategy 

Some of the key lessons to learn from the marketing strategy of Tesla are as follows;

• Accepting competition
• Brand exposure through various methods
• Knowing your target customer market
• Consistent company message
• Self-servicing feature
• Focusing online
• Openly becoming a bit controversial
• Transparent and visible
• Top customer support after purchase
• Focus on the mission and vision of the company
• Be fun and authentic
• Utilizing the influence of the CEO
• Not relying on paid ads
• Establishing strong referral programs
• Offering the best customer service and experience

Conclusion: Tesla Marketing Strategy 

After an in-depth study of the marketing strategy of Tesla; we have realized that Tesla is the world’s leading electric vehicle manufacturing company. If you are learning about the Tesla marketing strategy; then you should keep in mind the abovementioned elements involved in the company’s strategy and lessons to learn from its approach.