Tesla Inc.

was founded in 2003 by the engineers Martin Eberhard and Marc Tarpenning in San Carlos,
California. It was originally called Tesla Motors, a name the company changed in 2017. The company was
named after the 19th-century inventor Nikola Tesla, best known for discovering the properties of
rotating electromagnetic fields. His work led to what is known as "alternating current," the form of
electrical transmission still used today. Tesla is historically noted for his significant contributions to
electrical engineering and sciences, and in recent decades has become a pop culture icon among
engineers. At the founding of Tesla, Eberhard served as its CEO and Tarpenning served as CFO. They
launched their company to develop and produce an entirely electric car, in part, based on the favorable
reaction test markets had to General Motors electric car experiment the EV1. Although GM only ran this
program from 1996 - 1999, producing a limited run of cars that it never released for public purchase, it
was generally considered successful from an engineering standpoint. Eberhard and Tarpenning wanted
to build upon that success. Although Musk has long been the face of Tesla, he did not join the company
until 2004. He invested $30 million into the company and became the chairman of its Board of Directors.

Originally, Eberhard and Tarpenning dreamed of building an entirely electric sports car. In 2006 they
unveiled the prototype for their Tesla Roadster which entered production in 2008. With the Roadster,
Tesla achieved something that no company ever had. They produced an entirely electric car with
practical specifications that could arguably meet consumer needs. Previous experiments in this field had
failed because, among other issues, companies struggled to produce a battery powerful enough to keep
cars on the road and a cost-effective motor that could fit inside a consumer vehicle and accelerate it to
highway speed. The Roadster met those needs. The first model produced in 2008 could travel almost
250 miles on a single battery, with acceleration and top speed compared to many consumer-level sports
cars. The Roadster used a standard lithium-ion battery structure, common to many electronic devices,
and customers could recharge the car in a standard wall outlet.

Tesla Product Strategy:

The product strategy and mix in Tesla marketing strategy can be explained as follows:

Tesla is a leader in manufacturing premium eco-friendly & battery powered electric cars. Although the
major product manufactured by Tesla is electric sedans, it also produces other sustainable energy
technologies like solar panels, Tesla batteries, Tesla Supercharging Stations and much more- Powerwall,
Powerpack and Solar Roof in its marketing mix product offering. The Tesla cars come in three models:

Tesla Model S: The first premium sedan launched by Tesla, has self-driving auto pilot feature, over the
air software update and a powerful engine with 0 to 60 mph acceleration time of 2.28 seconds. It also
has adaptive lighting for better lighting at turns and a bio weapon defence mode which creates pressure
inside the cabin to protect occupants

Tesla Model X: Safest sports utility vehicle with 5-star safety ratings and can go 295 miles in one charge.
It is pegged to be the quickest SUV as well as it can go from 0-60mph in just 2.9 seconds. It is
veryspacious with falcon wing doors which provide accessibility to the second and third row of seating.
It also comes with clean air technology to protect the occupants from polluted air and auto-pilot
feature.
Tesla Model 3: This car is the most important part of Tesla vision as it makes the electric car technology
accessible to the masses. It is a high volume low cost vehicle slated to begin manufacturing in 2017. It
will go 225 miles at a single charge along with maintaining highest safety standards. But before these 3
models, Tesla had launched a sports car called Roadster.

Reference:

MBA Skool Team. (2020, April 19). Tesla Marketing Mix. Mbaskool.Com.
https://www.mbaskool.com/marketing-mix/products/17308-tesla.html