Southern New Hampshire University Promotional Strategy for Tesla Essay
You picked a business in Texas last week. Now consider the following situation. Let’s say that the company’s boss is trying to promote the business by running ads. However, you believe it is better to make your company’s presence known through PR rather than advertising. Depending on the circumstances of the company you have chosen (e.g.,product or service, competition, sales revenue, corporate image, consumer characteristics etc.), what would you say to your boss that PR would be a better tool for your company than advertising? 1 Promotional Strategy for Tesla Name Institution Affiliation Date 2 Introduction Tesla could benefit from increasing sales from existing customers and attracting new ones. The company has great potential to gain more customers, not only in Texas but across the globe. To achieve this, it would require a great promotional strategy that targets the needs of potential clients as well as the aspirations of the company. Tesla is well known and liked in Texas, so the company can take advantage of its brand awareness to grow its market share while building its brand awareness. Some of the elements of the promotional mix the company ought to exploit to expand its offering include public relations, online marketing, personal selling, and advertising. These aspects can be leveraged, as explained in detail below. Public Relations As the company continues to release the latest models to the market, current owners of tesla cars constantly receive updates for new features through the internet. This has significantly improved the public relations aspect of the company. However, there is much room for improvement in this element. For instance, the company should focus on increasing participation in public industry and community events. Also, the company can revamp its PR team that was disbanded in 2020 (Lambart, 2021). This is important in answering questions regarding the company and the brand by both the media and the public. Besides, an efficient PR team will ensure the accuracy of the information in the media regarding the company (Aldwairi & Alwahedi, 2018). Online Marketing 3 The company can attract potential customers and retain current customers by ensuring timely and adequate communication of the relevant and latest information regarding updates, modifications, and the latest news regarding the various models. In this case, the company can optimize the use of its Twitter and Facebook accounts as well as its websites to ensure timely dissemination of marketing information regarding car models. There are no geographical limitations in online marketing, and it enhances effective marketing while opening avenues of increased engagement with customers and potential customers (Bala & Verma, 2018). Thus, the company can take advantage of this element to increase visibility and sales. Sales Promotion This is another element that can enhance brand visibility and attract more potential sales. When deciding to buy, and due to the variety of alternatives, customers evaluate both the product and the brand’s reputation (Ramesh, Saha, Goswami, & Dahiya, 2019). Thus, the brand’s quality and capacity to satisfy customers’ requirements are key components that inform the attitudes and attributes of customers and potential customers. It is, therefore, critical that Tesla Motors enhances its brand image through promotional sales. In this case, the company can revamp its various promotional activities, such as offering discounts to return customers and increase on complimentary service mileage. Advertising Raising awareness, forging a sense of belonging, and gaining a reputation are all aspects of advertising. Tesla has so far managed to combine these aspects well through immaculate advertising efforts that present the company as the future product that is also very cost-effective. 4 The use of traditional media, social media and even showrooms to promote the brand has been effective. Therefore, the company can leverage its current attractiveness as an organization that actively works to reduce emissions and carbon footprint to gain more the market share through increased sales. Conclusion Tesla Motors is a great brand that can attract more sales upon proper mixing of promotional elements. This promotional strategy can effectively increase Tesla sales through increased brand awareness, customer engagement, and attractive brand image. This can be achieved through dedicated PR targeted advertising and marketing and effective sales promotion. 5 References Aldwairi, M., & Alwahedi, A. (2018). Detecting fake news in social media networks. Procedia Computer Science, 141, 215-222. Bala, M., & Verma, D. (2018). A critical review of digital marketing. A Critical Review of Digital Marketing. International Journal of Management, IT & Engineering, 8(10), 321339. Lambart, F. (2021). Elon Musk says no to a new Tesla PR department, doesn’t believe ‘manipulating public opinion’. Retrieved from https://electrek.co/2021/04/28/elon-muskno-new-tesla-pr-department-manipulating-public-opinion/ Ramesh, K., Saha, R., Goswami, S., & Dahiya, R. (2019). Consumer’s response to CSR activities: Mediating role of brand image and brand attitude. Corporate Social Responsibility and Environmental Management, 26(2), 377-387. 6