Marketing Research on Tesla Inc

Tesla Inc.
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Tesla Inc.
Tesla Inc. manufactures, develops, sells, leases, and designs storage, electric vehicles, and energy generation systems. From the marketing perspective, the company connects with its customers through word-of-mouth and the social media. The brand referral program entails rewarding customers who share their experiences of Tesla’s products or services with others. In particular, consumers are likely to trust products and services when they hear testimonies from those who have tried them. Moreover, Tesla advertises new product designs to its customers and welcome feedback from them to ensure that it manufactures things from the customers’ perspectives. That way, consumers can preorder products even before they are released for sale to the general public.
The market segment or target market for Tesla products are wealthy individuals. Tesla uses the current technology to manufacture its electric vehicles. Indeed, its primary focus is to provide electric vehicles and eliminate the problem of pollution coming from the emission of greenhouse gases. However, Tesla products are expensive and only wealthy individuals can afford them. For example, the price for Model X starts from $79,990. When compared to the price of electric vehicles from other car manufacturers, Tesla appears to target affluent individuals. For example, Tesla receives numerous product pre-orders from its customers for electric vehicles that have not been released after it launches their designs.
For Tesla to protect its desired market space it should do several things. First, the company should ensure to use high-quality materials to manufacture its products. Second, since Tesla communicates its product designs to its consumers, it should give room for product customization. Individuals would feel unique if they get electric cars that are customized based on their needs or specifications. Moreover, Tesla would involve customers in the product design phase. Some of its electric vehicles, such as the Tesla Cybertruck, have been criticized for their poor designs.
In the prospect’s mind, Tesla’s product positioning addressed the needs of affluent people. That is why the company sets high prices for its electric vehicles and storage systems. However, Tesla should start thinking about developing products for middle-income earners.
Tesla Inc. should providing its products all people. In particular, it should strive to own a marketing positioning for solving some significant environmental challenges using...