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Homework answers / question archive / Tesla could have used what it learned about consumer behavior, product or service, and pricing to help it develop a marketing plan in order to meet the company's marketing objectives and business needs

Tesla could have used what it learned about consumer behavior, product or service, and pricing to help it develop a marketing plan in order to meet the company's marketing objectives and business needs

Economics

Tesla could have used what it learned about consumer behavior, product or service, and pricing to help it develop a marketing plan in order to meet the company's marketing objectives and business needs.

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Tesla can utilise its learning from consumer behaviour and pricing methodology to understand customers preferences for various pricing bands and what positioning will help generate higher sales. Thus, an integrated marketing campaign can be launched to cater to target audiences and generate hihher top of mind recall.

Consumer behaviour insights thus can be used to feed sophisticated algorithms using Artificial intelligence and Machine learning to generate insights about right marketing mix.