PGBM127 Marketing and Markets in a Digital World Assignment Sample

Module code and Title: PGBM127 Marketing and Markets in a Digital World Assignment Sample

Part A

Background

Tesla is a multinational company in America and it holds the clean energy and the automotive section. The company headquarter is in Austin, Texa. Teslas manufacture and also designs an electronic vehicle, solar panels, battery storage of energy in the home to grid-scale and solar roof files and so many more products and services. Moreover, the company also had the most global sales in plug-in electric cars and vehicles and also battery-electric cars or vehicles. It, therefore, captures around 23% purely electric market and around 16% of the plug-in electric market in the year 2020 (TESLA, 2022).

Tesla is counted among the world’s most valued companies and therefore remains the most valuable automaker in the world with a market capitalisation of more than US$760 billion (TESLA, 2022). Moreover, the subsidiary the Tesla Energy, the company Tesla itself develops and is, therefore, a major installer in the United States of photovoltaic systems. However, Tesla Energy is regarded as the greatest supplier worldwide for the storage of battery energy systems with around 3.99 gigawatt-hours installed in the year 2021.

The primary marketing challenge which the organisation has been surrounded by is the trouble with the SEC and also losing a part of the recommendation with the customer. In order to move away from the chaos created by Tesla in 2018, it planned the introduction of a $35000 version of the Model3 Sedan and unveiled Model YSUV. However, it is too accompanied by concerns about their respective implications (TESLA, 2022).

Theoretical underpinning

Theories are the support system to help and make the organisation and other businesses stand by at their best and perform smoothly to achieve the targets and profits (Henriques, 2020, pp.3). Moreover, here in this report to support the company Tesla PESTLE analysis and Porter’s five forces marketing theory would be used.

PESTLE analysis refers to the framework which is thus used generally to evaluate the environment of the business in which the organisation operates. Tradinaltiny the PESTLE analysis is stated as the PEST analysis which is an acronym for Political factors, Economic factors, Social factors, and Technological factors. Moreover, in recent times Environmental factors and Legal factors are included.

The PESTLE analysis is a very simple framework for each and eerie company to adopt. Moreover, it also facilitates the environment of the business in a wider sense. In addition to this, it also develops strategic thinking and the external factors very prominently (Ajitha and Nagra, 2021, pp.506).

The SWOT analysis is also linked to this report. Therefore, SWOT analysis refers to the framework which refers to analysing the competitive internal environment. The strengths, weaknesses, opportunities and threats, therefore, influence the profitability of the organisation. However, the primary objective of the SWOT analysis model is to explore and assess the overall landscape of competition in a specific section of a business or organization.

Moreover, every element. of the SWOT analysis thus speaks about the market intensity very prominently (Sypko, 2022, pp.2). This can therefore assess the organisation which attractiveness and also pinpoint the core areas where adjustments could be placed to improve the profitability with the ultimate strategy.

The situation at the start of the case

In the initial quarters of 2018, Tesla achieved major success with Model 3 sales. However, after consecutive quarters of profit, Tesla started to face challenges and controversies including lawsuits against the CEO by SEO. Most devastatingly, when Tesla tried to reinforce the tempered challenges and the outbreak of a global pandemic, COVID 19 hit the entire world with layoffs, shutdowns and production losses (Sousa, 2022, pp.1).

Tesla faced challenges in regard to layoffs, trouble with SEC and lost customer recommendations (Ahmad and Khan, 2019, pp.3). During the period of COVID 19 the organisation Tesla had dropped sales by around 18 per cent (TESLA, 2022). However, the COVID 19 pandemic unfolded in the year 2020 and the implementation of the lockdowns in the entire world started. Moreover, the sales of the electric car have also been affected hugely due to the layoffs as the organisation laid 7% of its staff in the first month of the year and seven months therefore after cutting 9 per cent of the work level and experienced a drop which was unprecedented (Business Insider, 2022).

The core problem which had arrived in this market was the lockdown and a rule to stay at home. The sales of the electric vehicle of Tesla was more importantly larger than it is once observed during the financial crisis globally in the year 2007-2008 (TESLA, 2022).

At the beginning of the pandemic circumstances, in the early 2020s, there was a common expectation that the electric vehicle market would therefore likely be much more resilient than the common sector of automobiles. Although a huge drop in the sales of electric vehicles was expected due to the loss of customer recommendations. The consumer initially reported and redacted its recommendation part of the Model 3 in the month of February (Shao, Wang and Yang, 2021, pp.3).

Moreover, the sales of Tesla from the month of April till June, therefore, fell to their lowest level quarterly due to the supply change problem and the restriction of the pandemic situations in China has ultimately hobbed production of electronic cars or vehicles. Therefore, each organisation in accordance with Tesla faced immense problems in their production, manufacturing and also in their layoffs, customer lost recommendations and trouble with the SEC (Business insider, 2022).

The last time the company sold the least vehicles worldwide was in the third quarter in the year 20211 when it thus only delivered around 241,000. In accordance with the soaring inflation, the company Tesla in the second quarter reported around a 21 per cent of drop in sales as the price skyrocketed to $45,844 (TESLA, 2022).

The case study

PESTLE Analysis

The organisation Tesla requires to overcome the issue or the challenges connected to the external which is therefore identified with the help of PESTLE analysis.

Political factors- Here, in this section of the PESTLE analysis, the organisation Tesla thus identifies the impacts of the government on the organisation and also their macro environment or remote environment. The governmental entities are the prime forces of societal factors that affect the industry or the business. During the time period of covid 19, the strict actions of the government to maintain safety implied the lockdown, layoffs also become the most efficacious problem for the organisation to deal with and enhance their production.
Economic factors- The effects of the economic conditions on the macro environment and remote environment are therefore primarily considered in this section of the PESTLE analysis of the organisation Tesla (Castro, 2022, pp.5). These factors mainly involve the trade levels, market growth, currencies and also other variables which thus influence the automotive organisation or business. Since the COVID 19 scenario in the entire world, the organisation Tesla had suffered a lot in term of economic factors such as slow down of the growth of revenue in the economy, a poor area of the market to develop. However, the vehicle lost its customer recommendation due to feedback from Reports of Consumer in an annual survey and reliability.
Sociocultural factors- This factor affects the organisation’s macro and the remote environment through investors, customers and employees. Primarily this section of the PESTLE analysis immensely considers how the organisations must therefore align with the social trends in the market which is targeted. The managers of the organisations must ensure the core strategies are eventually applied to therefore maximise the benefits of the business with the external factors. As though the COVID 19 has affected the whole world, the organisation Tesla had suffered a lot of sociocultural factors too. It had faced problems to gather employees to work in the workshop on manufacturing the electric vehicles as a strict rule was given by the government to stay at home and thus implemented strict lockdown in the universe.
Technological factors- Hither, how the technologies are ascertained to influence the organisations Marco and remote environment. The organisation’s energy solutions and automotive business thus depend on the availability of advancements in technologies. The major technological factors during the COVID 19 in the organisation have thus put up with severe challenges to be at their best in all the scenarios other than COVID 19 and also to be strong in terms of other competitors in the market in regard to technology. The trouble in SEC had thus violated the settlement of the agency by not receiving and seeking any sought of help from Tesla in terms of production (Business insider, 2022).
Legal factors- The regulatory factors are therefore ascertained in the macro and remote environment of the organisation. Legal systems and laws shape the decisions of the manager and the development of the business. During the pandemic situation and COVID 19, the organisation Tesla had to undergo all the rules and laws to stay at their best to serve the nation (Kikkas, 2020, PP.3). The company also managed to follow strict rules which were imposed by the government to maintain a safe stay-at-home notice. This eventually affected the business severely as all the employees and the staff were at their homes and the entire function of the organisation stopped for a while, which as a result had to suffer huge losses.
Environmental factors- The environmental factors of the organisation were affected by climate change, programs for expanding the environment, rising in the stand for waste products disposal and so on (Liu and Zhou, 2022, pp.355). Due to COVID 19 issues and challenges, the entire environment was devasted and each and every single individual person had to main social distancing and hygiene all the time to be safe from the deadly virus.

The SWOT analysis also overcome the issue or the challenges of the organisation.

Strength	Weakness
· Choice of employee · Sustainable approach · Innovation	· Low entry in markets · Employee turnover
Threat	Opportunity
· New entry threats · Substitute threat · Industry rivalry	· Technological developments · Untapped Markets

Analysis

Strengths of Tesla

Choice of employee: Choosing the correct employee has been an extraordinary success for the company. Tesla has emerged as a great firm for the staff and the employees (McCain, 2019, pp.2). This is primarily due to its innovation-friendly culture and diversity. Moreover, the challenges of the case study are also strongly managed by Tesla.
Sustainable approach: Tesla positions its electric cars as vehicles that can supply the experiences of driving that exceed the expectations of the customer (Liu, 2021, pp.1). Their cars are also exceptional in terms of styling and achievement.
Innovation: Tesla has not just been just creative in the styling and design of their electric cars or vehicles but has also been included in much more research on substitute energy vehicle options such as hydrogen cell power-powered electric cars, hybrid cars and plug-in hybrids and so on.

Weakness of Tesla

Low entry in all markets: Tesla gaining its name for value-adding cars has marked a higher price tag for its final models (Benzaghta et a 2021, pp.55)(. Thereby, it cannot intervene in all markets. Countries opting for economic cars might not choose or let Tesla enter its market.
Employee turnover rate: Tesla holds a very high rate of turnover, with low working (Djellabi et al. 2021, pp.3). This thus affected the company’s system of working and caused an impact on the safety of the workers.

Opportunities of Tesla

Technological developments: In Tesla the technology succeeds with various benefits among many sections (Chen and Wang, 2022, pp.732). Operations can be automated to reduce costs. Technology obtained from customers enables better data and ameliorates the trading accomplishment.
Untapped Markets: Tesla is presently tapped into the Asian market, however, the market for electronic vehicles, renewable energy and automation is growing rapidly.

Threats of Tesla

New entry threats: The threats of Tesla in regard to the new entrants are very high and the barricade of the entry is low. The competitors of Tesla are fossil fuel-powered cars, electric vehicle start-ups and traditional automotive companies switching to electronic vehicles (Thomas and Maine, 2019, pp.653). As the organisation had faced several challenges of COVID 19 and the pandemic situations, after the post-pandemic and the new normal stage various competitors had arrived in context to Tesla to fight for the marketplace.

Substitute threat: It had become very tough for the company to manage the substitute at the time of COVID 19 and work along with the employees and the staff chronologically (Perkins and Murmann, 2018, pp.477).
Industry rivalry: This threat is very much intense in nature (Jiang, 2022, pp.2896). Therefore from traditional automakers, start-ups and big brands of automobiles switching to electric cars or vehicles. Therefore, the rivalry by using the differentiation strategy and the pricing strategy restricts the Tesla organisation and thus also penetrates the market and growth profitability.

Outcome

Therefore in the organisation Tesla after proper utilisation of PESTLE analysis and SWOT analysis, during the COVID 19 to figure out the challenges or issues it therefore also become a successful study. In addition to this other marketing, challenges have also been pointed out which are the course of stores and layoffs, loss the customer recommendation and trouble with SEC (Wang, Qin and Zhang, 2021, pp.3).

The benefit of using the PESTLE analysis by the organisation is that it becomes very simple to analyse all the factors separately ad come to a conclusion on what is the main issue. In addition to this, this became successful as it helped to understand and facilitates the business environment in the wider aspect. It will also encourage the future environment of the organisation or business to enable and anticipate the future markets and business threats and take necessary action or minimise the core impact (Guangul and Chala, 2019, pp.3).

Therefore the final outcome or result by using the PESTLE analysis in accordance with the challenges is that it initially provides a future warning of the opportunities and threats which will be known at the organisation before and after the COVID 19 pandemic situation.

The outcome of the utilisation of SWOT analysis is successful. Therefore, SWOT analysis eventually helps the organisation to estimate the strength, weaknesses, opportunities and threats in the market. In addition to this, it also exhibits the threats and the strength where they actually exist (Khan, 2021, pp.5). Moreover, it is successful as though helps in identifying which entity or firm is holding the ultimate power. It is further added that the final outcome is therefore concentrated over in understanding the ultimate corporate risk and also helps in making vision and corporate strategy.

Conclusion

The key learning point from this report is to know the background of the organisation in detail. Moreover, it also concludes the learning points on the theoretical underpinning of this case study. In another part of the case study, the ultimate problem of the company in the year 2018-2019 is also discussed and concluded. Moreover, the challenges and the problems or issues of the case study are well settled by deep insights of the organisation which are the loss in the customer recommendation, trouble with SEC and the layoffs.

Then comes the section of the case study, where the organisations are linked with the marketing theory is PESTLE analysis and SWOT analysis of marketing. However, both these marketing models played a significant role in Tesla and uplifted the company with all the opportunities and the nearby threats which can harm the business. SWOT analysis also assists and implements in displaying the opportunities to expand in the business or the organisation.

Moreover, in addition to this, the final outcome of using the marketing theories and models also concludes with the final outcome of how it helps the organisation to stay strong. It also concentrates on the successful nature of using the two marketing models in the organisation.

Part B

Introduction

The term technology refers to the simple application of scientific knowledge with the aim of the human being. However, the technology has thus transformed the marketing and marketing activities by making campaigns immersive for individual people and personalised ecosystems that are eventually more integrated and also targeted for the ultimate marketers. Moreover, it is not just only the interface between the organisation or the brands and individual people that have been initially transformed.

Consequently, the recent technology in the marketing activities and the market have permeated the systems and the infrastructure on which the organisations are constructed, delivering the procurement value and adding the bottom line. However, technology has therefore influenced each and every part of the lives of people and mostly the businesses and industries. From the business disciplines to household chores and etiquette there’s an app or gadget for it.

Recent technology has also completely and fully changed how data is analysed, collected and used in the organisation. In addition to this, it has also fully changed how the products are therefore marketed to the customers or audiences.

The aim of this section of the report is to present the different technological changes which are thus impacting or influencing the Tesla along with the market and the marketing activities.

Current technological changes impacting the Markets and Marketing activities of Tesla organisation

The marketing channels thus concentrate on the market and how it has been shifted from the competitive merit towards the distribution and collection of data. The current technology of the market and the marketing activities have therefore also revealed several hundreds of paths to understand the consumers and the business and even greater ways to ultimately reach them (Ungerman, Dedkova and Gurinova, 2021, pp.132).

Sometimes with all the current and recent information, it initially becomes tough to analyse and organise everything. For the organisation Tesla, marketing research had become easier than ever. Because the clients and the business have an access to the internet and therefore the system of customer relationship management had also become quite popular in nature. Moreover, this current technology is severely impacting the channels of marketing through monitoring, customising and analysing.

Direct marketing is another technological change that the company had adopted primarily with recent technologies in the market and marketing activities (Ahlstrom et al. 2020, pp.413). As because the powerful technology and database it organisation has gotten, it is basically easier for market and team and also an individual target group.

Impact on the operating cost also plays a role in the technological change in the organisation. The owners of the business can use the technology to decrease the cost of the business. However, the basic software of the organisation hereby enables to automate the functions of the back office such as accounting, record keeping, and payroll.

Securing sensitive information also impacts the owners of the organisation and top-level management to use the technology and build a secure environment thus maintaining sensitive for or customer information (Wang et al. 2020, pp.215). Several types of technology in the organisation or software program is thus user-friendly and also allows the owners of the organisation with only minor backgrounds in the technology of information to make out the most of the important tools and feature.

The technology of the business assists the small business to ameliorate the communication process. Texting, emails, apps, website and so on facilitate ameliorate communication with the customers. Therefore using various types of information technology the methods of communication in Tesla organisation enable to stature the economic workplace or market with their ultimate message. In addition to this, the organisation also receive more customer feedback through the use of electronic methods of communication.

The technology also ameliorates inter-office interaction as well. In the organisation Tesla the technological changes also impact greatly the use of inter-office communication. However, the software of social networks also gives the staff a centralised portal which helps to access and also update the documents internally and the contracts and also relevant to the data in other departments equally. In addition to this, this change in technology also helps the organisation to reach the customers through the device or mobile phone in a real-time structure.

Businesses can enhance their staff productivity through the utilisation of computer programs, technology and business software which usually allows the staff to process more original information than manual methods (Buhalis et al. 2019, pp.5). However, the owners of the business or the organisation can also implement the technology of business to secure the amount of labour of humans in the functions of the business or organisation Tesla.

Therefore, this initiative allows the organisation to avoid the cost of about along with the benefits of the employees. Even the tech of fundamental business can have a major impact on staff performance. Therefore, in the Tesla organisation, by placing performance of the employee appraisal information in a framework online, supervisors can thus easily construct measurable goals for their staff and also reach and sustain the objectives of the organisation (Sharma et al. 2020, pp.13). However, the owners of the business may also select to thus expand the operation by the use of technology rather than staff if the technology will supply better output and production.

The current technological changes impact the Markets and Marketing activities of Tesla by broadening the bases of the customer. Moreover, it allows the organisation to also reach new markets of the economy. Tesla can therefore reach the national, regional and international markets by broadening its customer base (Agrawal, Gans and Goldfarb, 2019, pp.35). A retail website is the easiest way and also a common way to sell electric vehicles and other products in the various economic markets.

However, the website cost very low time and low cost that the customer can access 24*7 when required to purchase electric cars or other goods and services (Bala and Verma, 2018, pp.320). In addition to this, the new technology of using the internet and advertising a particular product over the internet helps the company to reach recent markets and consumers through carefully placing ads and web banners.

The technology in the Tesla organisation allows outsourcing the function of the business to other businesses in the internal and national environment. Moreover, outsourcing can therefore help put the organisation at a lower cost and also concentrate on completing the function of the business they do best. Customer survival and technical support are the two primary functions of a business or organisation to outsource (Blut and Wang, 2020, pp.650).

In addition to this, the technology of outsourcing impacts the markets and marketing activities widely. Moreover, it also allows the business to outsource the function to at least the core and expensive areas which are possible, involving foreign countries.

However, the current technological changes impacting the Markets and Marketing activities in the present scenario of Tesla is that digital marketing is immensely becoming a very major part of the world of business and for Tesla. The technology literally shapes the prime strategies that will initially be effective in reaching the target customers or audience (Karabag, 2019, pp.462).

In addition to this, the technology also impacts more authentic content and offers chatbot service, optimising search voice opinions, making the most marketing through social media and also constructing an engaging user experience. However, technology impacts the marketing activities and the marketers in various ways but there are two common ways in which the technology is impacted that is product enhancement and informing the customers. Product enhancement is the functionality service of the product of the organisation (Chege, Wang and Suntu, 2020, pp.318).

Therefore integrating the advanced technology over the business, therefore, ameliorate the access of the product and also refines the previous solutions hence boosting the entire product performance. Secondly, informing the customer is also another major current technological change impacting the market and marketing activities. Therefore keeping the consumer informed, it thus makes them feel valued and thus also increases their loyalty toward the organisation or the business.

Conclusion

This section of the case study thus concludes with the current technological changes impacting the Markets and Marketing activities in the organisation. However, the current technological changes in the market, therefore, present a wide spectrum of research that eventually investigate how the current technology drives the practice of marketing and thus stimulates further research activities.

Thus by elucidating how the recent technology, therefore, enables current forms of interaction among the firms and the customers, this case study shows the current technology is swapping recent types of analytical methods, and data, building innovation in marketing and also giving rise to the recent strategies framework of marketing.

Collectively the case study hereby concludes with the various current technologies which initially impact the company market and the marketing activities, which thus increases the volume and the richness of the market data, and also enables novel insights. This thus supports the marketing decision more wisely and ameliorates in collecting the market data additionally.

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