Tesla is an premium electric vehicle company. Their goal is to provide their customer a luxurious car that doesn't hurt the environment. They currently have only one model out and, one model in production. This luxurious car comes with a luxurious price starting at about $71,000. A huge competitive advantage that Tesla holds over other cars in the same price range is that the consumer will save about $250/month on gas.
Tesla models
1. Model S- Classic 4 door
2. Model X- (Available fall 2015)- 4 door with hatchback to give it the space of a SUV
When Tesla was founded it did not have many competitors due to the fact that Tesla was in its own class due to the price. This was a big plus for the company making it unique in its felid. As we know when there is an unique product doing well there will always be competitors ready to jump on the boat. BMW, Cadillac, Porsche and Audi are a few of the luxury brands that are starting to promote new plug in models aimed to get the attention of Tesla customers.
Target Market- Teslas target market is not just for people who are looking for an upscale car. The target market focuses on people who are envoiroemal friendly and also want a elegant car that drives very well. Due to the price of the car, the consumer must have an above average income.
Place- Just the the car is unique, the way they sell it is unique. Tesla strives to sell their car in their own store, and online. They have almost 50 stores, and they make it very easy to customize online. The main difference between the way Tesla and other companies sell their cars is that tesla cuts out the middle man. They sell the car directly to the customer rather then letting a dealer sell it for them. This is an competitive advantage that all companies should adapt. Cutting out the middle man will help the customer save money in most business.
Tesla Strengths:
1. Well established & proven brand
2. Elegant & luxury car
3. Helps the environment
4. Saves gas so we can use it for other reasons
Tesla Weaknesses:
1. Not a practical car for most middle & lower class workers due to the high price
Threats:
1. Other electric cars are priced in a lower tier
2. New Wave of similar cars are currently in production
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