1-Keys to Success
In the Model X, a newly designed car for customers by Tesla Company, there are different features, which have never been experienced customers. It is the first key success factors, and it has also been streamlined by the company in the competitive automobile market. The most important or prominent thing is the design of this car, which is unique as compared to previous models of the Tesla. For Instance, the design of the car contains more capacity for young adults, which is the new aspect of this development process. Thus, the key success factor is the design of the car. Also, it has been revealed that the company has made some changes in features of the car. This car has a differentiated accelerating capacity (Zero to 60 miles in 2.9 seconds. The speed and safety of the car are two additional success factors that this company has streamlined in the competitive automobile market. It is necessary for the company to increase or enhances the customer experience through this model, and it has been justified in an effective and lucrative manner (Evannex.com, 2018).
2-Critical Issues
There are some issues, which have been emerged with the passage of the time. The Model X contains some quality and reliability issues in the market. The company management observes several complaints. On the other hand, the company is claiming some serious considerations to improve the quality and reliability. It is a fact that Tesla Company has considered these critical issues, as these have hit sales and marketing process of the company badly. The most important thing is the sustainability of the product for a long run, and through some strategic considerations such as technological advancements and aggressive marketing approaches, the big difference has been made (Schultz, 2017).
3-Marketing Strategy
The current marketing strategy of the company for this model is the social media integration. Interestingly, this marketing strategy has worked for this company; it has helped to grab the immense range of customers around the globe. In the intense rivalry, the company issuing different social media channels such as Facebook, Instagram, and Twitter to engage customers attractively. It is a cheap way of attracting customers, which is justified to get this car in the limelight. Interestingly, it is revealed that the company contains the diverse social media presence on different social media channels. Thus, to make the difference, the company intends to depict the attractive and effective simulation and visualization of the car. It seems the best strategy for this company, which is good to streamline this new model. The company intends to depict the differentiation as well in the presence of other competitors. It is broad differentiation, which is an important aspect of the marketing strategy. The company wants to make the product different from other substitutes or competitors in the market, and of course, it is attracting or converting customers (Sunley, 2017). Not only on social media channels, but this company is also using different websites to streamline the content regarding this model. People are reading blogs and other related content to know about this car along with several benefits that the company usually claims in the market. The purpose of this marketing strategy is to have the informative customers, and in the competitive market, it is working for this company. Now, customers are more assertive in getting information about features and benefits instead of just relying on design, price, and beauty. Thus, the marketing process has been used to contain the customer awareness as well (Evannex.com, 2018).
4-Mission
As far as the Model X of Tesla is concerned, the mission of the company is coming up with the sustainable transport for people by introducing some high-quality electric cars. This mission statement is quite pertinent to this new model. With the passage of the time, it is necessary for the firm to evolve regarding the mission due to some new automobile trends. The mission of the company is to be streamlined in the marketing process as well. The development of the new car must be pertinent, and this is what this company wants to attain in the next few years (Schultz, 2017).
5-Marketing Objectives
The marketing objective for Tesla Model X is the customer attraction and satisfaction. The management is looking to combine social and traditional media efforts to enhance the visibility of the competitive positioning. Another marketing objective is to depict the environmental impact of this model through different media channels. In this modern business era, the marketing process should be designed to convey the mission and vision as well, which also depicts overall intention of the company, as far as the new development is concerned (Sunley, 2017).
6-Target Markets
Tesla Model X is designed for the family. All young adults in the family are targets of this company. Mostly, the target customers of the company contain the age 20 to 40. Business executive, entrepreneurs, early adopters, and wealthy people are the main targets of this car model.
The targeting can also be justified through delivering the highest quality, reliability, and extraordinary features. The electric car development has already helped to create the perception in the market. Thus, these targets are identified by the company management, and interestingly, the management is experiencing the good response from the customer. Thus, the success of this model can be sustained due to the successful implementation of all marketing strategies and traits (Schultz, 2017).
References
Evannex.com. (2018, February 7). What Tesla and Honda’s early success have in common? Retrieved from https://www.teslarati.com/tesla-honda-early-success-have-common/
Schultz, E. (2017, August 3). Tesla Still Doesn’t Need Paid Advertising To Make Sales. Retrieved from http://adage.com/article/cmo-strategy/tesla-paid-advertising/310008/
Sunley, R. (2017, September 28). Tesla’s Successful Marketing Strategy Shows That it’s Time for CEOs to Get Social. Retrieved from https://www.socialmediatoday.com/technology-data/teslas-successful-marketing-strategy-shows-its-time-ceos-get-social
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