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The 4P’s of Marketing Mix Analysis: The Uniqueness of Tesla’s Strategic Marketing Tactics in China

In: Proceedings of the 2023 2nd International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2023)

Author

Listed:
  • Yunlan Zhang

    (New York University)

Abstract

This paper examines Tesla's distinct marketing strategies in China from the perspectives of the marketing mix's four Ps (Product, Price, Placement, and Promotion). To begin with, Tesla employs a product adaptation and differentiation strategy to make its products more competitive and advantageous when compared to existing domestic competitors. Additionally, Tesla has expanded rapidly in China by opening physical stores and service centers with futuristic characteristics across the country to stimulate sales of its products. Moreover, there are two types of strategic tactics for pricing in the 4Ps of the marketing mix, including price-cutting strategy and charm pricing strategy. These two marketing strategies help Tesla to stimulate hesitated consumers to have a purchasing behavior. Ultimately, Tesla’s promotional strategy focuses on digital marketing to strengthen its brand image and engage with consumers in the local market. Overall, through the marketing mix analysis of Tesla, the contribution of this paper is to emphasize the significance of the 4P of marketing mix in launching a new product in a foreign market.

Suggested Citation

  • Yunlan Zhang, 2024. "The 4P’s of Marketing Mix Analysis: The Uniqueness of Tesla’s Strategic Marketing Tactics in China," Advances in Economics, Business and Management Research, in: Faruk Balli & Hui Nee Au Yong & Sikandar Ali Qalati & Ziqiang Zeng (ed.), Proceedings of the 2023 2nd International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2023), pages 233-240, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-268-2_28
    DOI: 10.2991/978-94-6463-268-2_28
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