You’re responsible for the company Tesla, describe the market into which you int
ID: 331564 • Letter: Y
Question
You’re responsible for the company Tesla, describe the market into which you intend to introduce your company’s products or services. What do you do for your target market, and what makes you the best? You need to outline how you are going to develop and maintain a loyal customer base. Therefore, describe your customers. Describe the customers' needs that the product or service satisfies. Provide demographics about your customers and show how the product your company offers falls within those demographics. How big is the market? Describe and explain pricing structures of your company and its competitors. Describe how your marketing and pricing will give your company an advantage in the market, or describe what changes must be made to give your company an edge. Show how your company will compete with other companies offering the same or similar products or services.You’re responsible for the company Tesla, describe the market into which you intend to introduce your company’s products or services. What do you do for your target market, and what makes you the best? You need to outline how you are going to develop and maintain a loyal customer base. Therefore, describe your customers. Describe the customers' needs that the product or service satisfies. Provide demographics about your customers and show how the product your company offers falls within those demographics. How big is the market? Describe and explain pricing structures of your company and its competitors. Describe how your marketing and pricing will give your company an advantage in the market, or describe what changes must be made to give your company an edge. Show how your company will compete with other companies offering the same or similar products or services.
You’re responsible for the company Tesla, describe the market into which you intend to introduce your company’s products or services. What do you do for your target market, and what makes you the best? You need to outline how you are going to develop and maintain a loyal customer base. Therefore, describe your customers. Describe the customers' needs that the product or service satisfies. Provide demographics about your customers and show how the product your company offers falls within those demographics. How big is the market? Describe and explain pricing structures of your company and its competitors. Describe how your marketing and pricing will give your company an advantage in the market, or describe what changes must be made to give your company an edge. Show how your company will compete with other companies offering the same or similar products or services.
Explanation / Answer
If I will responsible for the company Tesla. I would have introduced my products into developed countries such as America and Canada. My company is dealing in electric vehicles. This type of approach would definitely have helped my organisation to be more productive in the specific market segment and to acquire large amount of customers from the same market. For targeting the specific market I would have definitely create a table tennis strategy for understanding the situation and by differentiating products in the specific marketing segment from the core availability of the vehicles.
Our understanding of the electric vehicle market as well as advanced development and technologies makes us the best in the specific segment. Our vehicles are technically very advanced and they have best available electric technology on the planet.
By understanding the customer needs as well as developing a customer relationship program which would definitely help my organisation to develop competitive strategy for acquiring largest segment of the market in the specific region. Developing a customer relationship program as well as creating products which could be very useful and customer oriented should be beneficial for the company.
Our customers are basically the people who need a sustainable resource of vehicle with proper performance is generated by Clean Energy. Tesla would give them an option to get more from using the sustainable resources which is much effective and cleaner as well as environment friendly. Our customers are directly concerned about environment and they are looking for electric vehicles. Tesla has been very successful in developing better and cost-effective strategu could provide great performance as well as better sustainable ratio for the products.
Does the specific market segment is relatively smaller than the mainstream market but it has very wide possibility of growth across the globe as requirement of electric vehicles is wildly increasing and subsidiaries are also requiring these vehicles to sell in developing countries which is the potential market for specific vehicles. There are very less competitors available in this specific segment and Tesla is leading one-of-a-kind approach putting the company towards creating electric vehicles only. Our marketing and pricing is definitely different than others and it is very aggressive to capture better amount of the market and to the affect the customer in a positive way.
Our company would create difference by using differentiation strategies in which the products are differentiated with the other by differences in features. Tesla cars are definitely powerful than other available competitors in the market as well as they are much reliable and highly advanced which is a core competency benefit of tesla. Maintaining this approach of development high quality products in the specific market segment would definitely help us to compete with our competitors and to lead the market.
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