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TESLA: BUSINESS STRATEGY
Table of Contents
Business Summary    4
Company Overview    4
Mission    4
Vision    4
Goals & Objectives    5
Key Business Milestones    5
Marketing Analysis    5
Industry Assessment    6
Competitors Assessment    6
Segmentation, Targeting & Positioning    6
Marketing Mix of Tesla    7
Marketing Strategy    8
PESTLE Analysis    9
SWOT Analysis    11
Management Plan of Tesla    11
Organizational Analysis    11
Financial Position of Tesla    12
References    13
Business Summary
Company Overview
Tesla Incorporation was priorly named as Tesla Motors Incorporation an Automotive and Technology Company that designs and develops electronic vehicles. The company is headquartered in Palo Alto of California with Elon Reeves Musk as the Chairman of the board and the CEO. The company is deliberately making products to
ing the globe closer to sustainable energy with the help of electric cars and renewable energy solutions. The company also specializes in manufacturing lithium-ion batteries for energy storage and residential solar panels through its solar City subsidiary. Elon Musk, JB Straubel, Martin Eberhand, Marc Tarpenning, and Ian Wright founded the company, Tesla, in July 2003. The company presently has been operating with more than 50,000 employees and 250 stores globally. The business is considered to be one of the most innovative entrepreneurships and is one of the historic approaches to developing electric cars that are equally efficient as gasoline cars.
Mission
The mission statement of Tesla Inc focuses to enhance the use and advantage of sustainable transport by exposing the mass market of electric cars to the automobile industry as soon as possible. Creation the company is focusing on a strategy to develop high-performance electric vehicles that are not only efficient but also the highest-selling with safe technology and contemplative evolution. Beginning from the initial models to the latest models the company is predominantly encompassing to introduce electric vehicles into the mainstream. In addition, the acquisition of the Solar City and the Gigafactory offered a range of energy products that encompasses the use of solar storage and grid services.
Vision
The vision of the company is to become a leader in electronic vehicle technology and it extensively focuses on fast-mover advantage. The company believes that cars does not requires to be considered as the sacrificial mode of transportation but they must be represented as the best of the both automation and technological worlds. It extensively focuses on the permanent growth and the image of the electric cars that are being efficiently administered for performance, efficiency, and design. The key aspect of the company is that it operates on the basis of a 100% electric power trend that not only propels the strong foundation of the automobile industry for the future but is presently vibe as a beautiful and exciting technological aspect in the automobile industry.
Goals & Objectives
The core values of the organization contemplate a clean start in the automobile industry with a committed technology of electricity used in the automobile industry. It contemplates a built for the purpose of the driver and sparking evolution in the technological hemispheres of the automobile industry.
· Capture the market share of the automobile market.
· Take advantage of the non-existent electric automobile market.
· Diversify the product portfolio.
· A green approach in the automobile market
· Sparking the evolution in the automobile industry.
Key Business Milestones
· July, 2003- Tesla Motors was developed by a group of engineers of Silicon Valley.
· August, 2006- Tesla’s master plan revealed the significant evolution of the global automobile industry and accelerated the adoption of solar economy.
· March, 2008- Tesla starts the production of its first model, “Roadster”.
· March, 2009- Tesla unveils the prototype of Model S.
· June, 2010- Tesla went public for $17 per share.
· October, 2015- Tesla launches the first autopilot model.
· November, 2016- Tesla officially starts the solar business.
· Fe
uary, 2017- The name is changed from Tesla Motors to Tesla.
· January, 2019- Tesla became the first wester automobile manufacturer to own a factory in China without a joint venture.
Marketing Analysis
The company has to monitor the significant macro environment and micro environment forces that affect the liability of the organization to be profitable in the industry. This signifies the market intelligence and market analysis of the company to track the important developments and related opportunities. It effectively considered the aspects that are required to react accordingly to the external impacts and must be aware of the strength and weaknesses with a suitable planning process. Tesla has become one of the most valued companies since its penetration into the automobile industry and has facilitated a wider context of the potential factors that affect the corporate objectives of the automobile industry.
Industry Assessment
Tesla was essentially unique in the automobile industry and positioned itself as a leader in the electric vehicles segment. Tesla is the only company in the automobile industry that offer both the fully electric capacities and the luxurious approach. To market the products developed by Tesla it has secured a significant position in the automobile industry as well as in the electric vehicles industry. According to Bloomberg, the Business Week Tesla was considered as an automobile that has all the features that are defined in a luxury automobile (Akakpoet al., 2019). This category includes luxury minivans, SUVs, convertibles, and sedans. Moreover, the key success factor that had been path-
eaking in the automobile industry is that it utilizes electricity to reduce the use of gasoline. It is also worth mentioning that the automobile industry is a bit price sensitive in the segment of the luxury car market. But the product differentiation and the quality along with the price had made Tesla one of the global competitors in the automobile industry.
Competitors Assessment
The direct competitors of Tesla are the companies operating in the luxury electric car industry. While the indirect competitors include the companies who are competing predominantly operating in the luxury car industry. The direct competitor of Tesla is Fisker Automotive. While the indirect competitors for Tesla include BMV, Lexus, Mercedes Benz, and Porsche. Tesla has certain typical competitive advantages over...