12 May HAS THE PRODUCT GONE THROUGH ANY MODIFICATIONS/IMPROVEMENTS, OR HAVE LINE EXTENSIONS BEEN ADDED?
Company Study
Tesla Motors
Describe a company, its target market, and decision process used by its customers. Specifically, your paper should include the following:
1. Introduction
a. Who founded the company and what is its current status?
b. Describe the company’s principal product (or products) in terms of features and benefits as well as anything else that is important to note (e.g., unique product design).
c. Has the product gone through any modifications/improvements, or have line extensions been added?
d. What stage of life cycle is this product currently in? Cite evidence such as trends in sales and profits, the nature of competition, and the types of marketing strategies.
2. Identification of target market(s)
a. Who is (are) the primary target market(s) for this product? Describe these markets in terms of demographic, psychographic, and other relevant characteristics. Do the same if there are any secondary target markets.
b. Are there any potential market segments you would recommend for this product? Describe these segments in terms of demographics (e.g., subcultural, social class, family life cycle stage, etc.), psychographics (personality, AIOs, and/or lifestyle such as VALS2 or Clarita’s geodemographics, etc.), and buyer behavior (benefits sought, usage occasion, deal proneness, heavy usage, etc.)
3. Consumer decision making processes
a. What type and amount of information about this product do its consumers use? How involved are they? Which level of decision making are they in?
b. How do consumers evaluate different brands in this product category (criteria and decision rules)?
c. How do consumers go about shopping for this product?
d. How do consumers dispose of this product after its usage?
4. Recommendations for the future of the company. (If no changes are suggested on any of the following areas, explain why the firm’s current strategy will probably be “on target” in the foreseeable future).
a. Target market and/or positioning changes
b. Product decisions
c. Pricing decisions
d. Distribution decisions
e. Promotion decisions
5. Graphs, charts, diagrams, pictures, product samples (if feasible), ads/websites, endnotes,
bibliography, etc.
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