Using Tesla, prepare a report that recommends a new product or service line to launch in their stores and develop a brief marketing plan. Prepare your report using the following numbered headings/sub-headings and answer the questions associated with each heading. Make sure you apply the various marketing concepts and terminologies discussed in this course within your answers.

1. New Product or Service Line

Describe the new product or service line and the category the product or service will fit in to. It must be new to the company. Explain how the product or service line aligns with the vision and mission of its parent company.

2. Market Segmentation

Identify and describe the target market (using 4 segmentation variables) for this new product or service line and the need it satisfies. Provide examples of each segmentation variable used.

3. Competitive Advantage, Product Differentiation, and Positioning Strategy

Describe 2 competitors for the new products or services to be introduced for the company you selected. Identify how the companys new products or services will be differentiated and positioned relative to the competition.

4. Marketing Plan

For your selected company, develop a brief marketing plan as to how your company might launch this new product or service line.

Your marketing plan should include and describe each of the following components:

1. Marketing and Advertising Objectives
2. Market Overview
3. All the elements of the Marketing Communication Mix (i.e., The 4 Ps Product, Price, Place, Promotion)
4. A Communication Strategy (Promotion Mix)
5. A SWOT Analysis for the companys new product or service line
6. Evaluate the success of your marketing and advertising objectives. Provide strategies and metrics to measure the return on your advertising investment.