Buying a product from Tesla encompasses more than the physical product. Tesla’s Target is… 1 answer below »

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Buying a product from Tesla encompasses more than the physical product. Tesla’s Target is characterized for having a rather luxurious lifestyle and praising technology. In addition, they care about the environment and having a carbon-free life. This green high-tech segment ultimately seeks innovative technology with functional and symbolic attributes that meet their needs. This segment values the car’s performance and is environmentally conscious. As a result, in order for Tesla to drive consumer loyalty, it needs to keep designing vehicles that have the same characteristics of a race car with a minimal carbon footprint. A major issue that Tesla faced in order to satisfy its target is that while battery operated cars have lower CO2 emissions than regular ones, however, batteries recharged by electricity generate even more CO2 emissions than regular engines. Tesla addressed this concern many of its customers had by creating solar power recharging network. We recommend Tesla to stay true to its mission to accelerate the world’s transition to sustainable energy while being responsive to customers feedback. In order to achieve long-term success, it is imperative that Tesla continues putting customers’ needs first before taking any business decision. However, while Tesla needs to design its products to meet the demands of the marketplace it also has to design its goods and services to profitable. The first vehicle that Tesla brought to market, the Roadster, was very expensive to produce. While the case doesn’t provide a statement of cash flows for the fiscal year when this product was launched (2008), it highlights the exorbitant cost of lithium batteries. Even though the prices of lithium batteries have decreased over the years, making an electric car has remained more expensive than one with a regular gasoline engine. “A lot of experts figured Tesla would be out of business in a few years, as the cost of launching new vehicles killed the company”( DeBord 2017). As Tesla continues to move forward, in order to reduce costs, we suggest for Tesla to design for assembly and logistics. These types of design will ease processes and be more cost-effective. In addition, it will help Tesla to achieve its goal of having a car designed for mass production. Unlike other companies in the industry, Tesla sells vehicles online and only exhibits them in showrooms. Tesla’s website allows customers to tailor their car to their liking. It allows the consumer to see how the car would look like with different features. Most importantly, it reduces costs. We recommend Tesla to keep providing services that ease the customer’s experience. Tesla should focus on designing services that optimize interactions with customers throughout the customer journey. For instance, Tesla can incorporate a live chat option that allows consumers to ask any questions they might have without interrupting the process of designing their car.

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