Marketing Plan for Existing Products Offered by the Company MKT 5301-Advance Marketing

This document is a Marketing Plan analysis for Tesla Company, specifically focusing on its existing electric vehicles (EVs). It provides a competitive analysis, a SWOT-style review of the company and its competitors, and a proposal for a new marketing strategy, including changes to pricing and promotion. I. Company Overview and Competitive Analysis Company: Tesla Company, a leading green energy solution corporation founded in 2003, primarily known for its electric vehicles. Strengths: Tesla has high brand equity, a perception of innovation, alignment with sustainability, and access to and ownership of production technology. Weaknesses: High pricing due to a focus on luxury products, which creates a market gap, and issues with supply chain disruptions and production capacity. Competitors: Tesla faces competition from companies like BYD and General Motors. General Motors (GM): Offers more affordable products and longer ranges on affordable products compared to Tesla. However, GM lacks Tesla's software development capabilities. BYD: Has self-sufficient power batteries and utilizes vertical integration to reduce production costs and maximize profits