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It has recently been discovered that the well-known international organization Tesla Inc. has been working on its branding based on the services in the Asian region. Tesla Inc. is altering its place marketing strategy for pre-shopping and post-shopping processes in China as the country’s robust domestic competition and inconsistent demand threaten its expansion aspirations in the largest market for electric vehicles worldwide. Based on a comment on its Weibo account, the electric vehicle innovator has advanced insurance tax incentives of up to 8,000 yuan ($1,100) for new customers who make purchases of the product, resumed a consumer rewards program, and even marketed on a local Television home shopping network — an unusual move for a business that has boldly shunned conventional advertising opportunities.
The article includes following marketing concepts:
- Branding: Building and maintaining a connection between a company and its customers. Brand marketing advertises the complete company instead of a specific item or service, utilizing the goods and services as evidence of the company’s purpose. In this story, Tesla wants to improve their branding by incorporating new services to attract customers.
- Services: In contrast to products, which customers can physically touch or hold, services are the non-physical, immaterial components of the system. In the article, the company incorporates monetary services, such as EV car maintenance.
- Shopping: A client engages in shopping when they explore the products or services offered by one or more sellers with the possibility to buy a satisfactory assortment of them. In this case, shopping revolves around purchasing Tesla cars.
- Place Marketing: An advertising tactic used to highlight a certain location is known as place marketing. Through the use of place marketing, a location, its unique business prospects are advertised to draw customers. Place marketing in the news marketing refers to advertising the Chinese region to advertise locally manufactured goods.
- Purchase: A purchase is when someone pays a predefined sum of money in order to effectively finish the transaction and obtain control of a specific asset, commodity, product, or privilege. Purchase in the article refers to the process of buying the electric vehicle.
- Product: Any good or service a company offers to satisfy a customer’s demand or desire is a product, which can be both real and virtual. The product of Tesla Inc. is the electric vehicle manufactured in China.
Reference
Tesla revamps China marketing strategy as rivals lure customers. Bloomberg. Web.
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