Tesla Motors is an electric vehicle manufacturer that trades on the NASDAQ stock exchange. It produces electric cars, electric powertrain components and lithium-ion batteries. Electric cars are not yet widely sold on the international market for various reasons; however, perhaps the Tesla Roadster is only in its introductory stage and soon sales will grow? Tesla has prepared a marketing plan to implement their vision in the market. How might marketing professionals review Tesla’s marketing plan to evaluate strategies valuable to other organisations? How has your organisation, or one with which you are familiar, effectively applied marketing planning strategies?

Critically evaluate the strategic nature of marketing planning. What are the three most valuable strategies of marketing planning for any organisation? In your evaluation, include specific references on how organisations in which you have worked (or are familiar with) may or may not have applied those strategies effectively.

In formulating your Key Concept Exercise, consider the following questions:

1) What are the necessary elements of a marketing plan?

2) What is the role of marketing plans and their implementation for gaining competitive advantage?

3) What are the strategies promoted by marketing plans?