Company/Brand Selected (Tesla, SmoothieKing, Suave, or Nintendo):
Use the provided information and your research, to assess one (1) of the stated brands (Tesla, SmoothieKing, Suave, or Nintendo) by completing the questions below with an ORIGINAL response to each. At the end of the worksheet, be sure to develop a new ORIGINAL positioning statement and motto for the brand you selected. Submit the completed template in the Week 4 assignment submission link.
| Name: Professor’s Name: Course Title: Date: Company/Brand Selected (Tesla, SmoothieKing, Suave, or Nintendo): |
- Target Customers/Users
Who are the target customers for the company/brand? Make sure you tell why you selected each item that you did. (NOTE: DO NOT say “ANY, ALL, EVERYONE” you cannot target everyone, you must be specific)
Age Bracket: Aged between 30 and 60 years of age (TESLA MOTORS, 2020).
Gender: Male.
Income Bracket: high-end workers earn $ 80 000 per annum and above (TESLA MOTORS, 2020)
Education Level: College graduate.
Lifestyle: Upper middle class.
Psychographics (Interest, Hobbies, Past-times): concerned with reduced fuel (economic cars) and desire for affordable luxury cars.
Values (What the customer values overall in life): live life within their means but be able to enjoy it through luxury products.
Other items you would segment up on: target could also include individuals in the age range 18 and 24 who are graduates.
How does the company currently reach its customers/users? What methods and media does the company use to currently reach the customers/users? What methods and media should the company use to currently reach the customers/users?
The company uses an indirect marketing strategy. Tesla Motors focuses on media coverage and word of mouth as a means of reaching its customers. The company is renowned for not using traditional or mainstream advertising platforms such as radio or television (Isidore, 2019). It is reported that its CEO, Elon Musk, is regarded as one of the selling points for the business. However, due to the recent drop in sales and share prices, the business should use actual marketing tools, including television, print media, and social media (Isidore, 2019).
What would grab the customers’/users’ attention? Why do you think this will capture their attention?
The technological and infrastructural changes that Tesla Motors is making for the new version cars, including Roadster and M3, will attract customers. The reason is that; the company already offers electric vehicle dynamic power engines (Mangram, 2012). Alongside this, the car is affordable and easier to use compared to other electric vehicles. On top of this, the most eye-catching factor is the improved efficiencies in the new model M3, which offers reduced carbon emissions and better battery performance (Mangram, 2012).
What do these target customers’ value from the business and its products? Why do you think they value these items?
The customers’ appreciation for the business and its products is on the value proposition. The company offers high-end luxury sports vehicles that are electric-powered and are affordable (Mangram, 2012). Additionally, the brand association allows customers to uniquely identify with the products as they are unique and custom-made to suit each client’s needs (Mangram, 2012),
- Competitors
Who are the brand’s competitors? Provide at least three competitors, and tell why you selected each competitor.
Competitor 1: Ford Motor Company
Competitor 2: General Motors
Competitor 3: Toyota Motor Company (Investopedia, 2020)
What product category does the brand fit into? Why have you placed this brand into the product category that you did?
The classification is the electric vehicle category. The reason is based on the fact that Tesla Motors on concentrates on electric cars that are high-end sporty luxury models (Investopedia, 2020)
What frame of reference (frame of mind) will customers use in choosing to use/purchase this brand/service? What other brands/companies might customers compare this brand to (other than the top three identified above)?
The frame of reference by the customers is that they are purchasing a luxury car that is featured with sport-based concepts and is electric, thus, makes it suitable for minimalist living and high-end lifestyle (Mangram, 2012).
- USP (Unique Selling Proposition) Creation
What is the brand’s uniqueness? Why do you think this is a key uniqueness for this business?
The brand’s uniqueness is that features on technology, environmental friendliness, and power come in one car (TESLA MOTORS, 2020). The point of differentiation of the brand from the other competitors is based on the ability to provide its target market with a car that is economical, versatile, and still luxurious in one package.
What is the competitive advantage of the brand? How is it different from other competing brands? Why do you consider this a competitive advantage?
The ability to offer an affordable car that is technologically advanced and environmentally friendly in one product, whereas competitors do not offer such products. It is a competitive advantage since no other automobile company offers all three tenets (technology, power, luxury, and environmentally friendly) in one car model (Investopedia, 2020).
What attributes or benefits does the brand have those dominant competitors? Why do you think they dominate?
The design of the cars is sporty and sleek; the cars are developed with electrical powertrain and battery, no fuel tank, powerful propulsion system, and has wireless updating systems (O’Dell, 2016). The attributes allow the company to manufacture ideal cars that satisfy the needs of the clients without necessarily asking for too much from them, unlike the competitors.
How is this brand/company better than its competitors? What is the brand’s USP (Unique Selling Proposition? Why have you decided upon this particular USP?
Unique Selling Proposition: to build a sports car that is affordable with zero-emission electric power generation.
Defense/Justification of USP: they wanted to satisfy the niche market opportunity in which clients wanted a sleek, sporty, environmentally friendly, and affordable car.
- Positioning Statement & Motto
Develop a new positioning statement and motto for the brand you selected. Below is an example of BMW’s positioning statement and motto. Discuss why you created the items that you did?
- BMW Positioning statement: The brand for discerning customers of sports cars (target customers) who want an exhilarating experience (USP).
- BMW Motto: BMW is the ultimate driving machine.
Newly Created Positioning Statement: Since 2003, Tesla Motors has been on a mission to make the world more eco-friendly, and today, the company achieves this mission through the manufacturing of electric, high-performance, environmentally friendly and affordable cars that do not compromise the growing need to reduce carbon emissions in the world.
Defense/Justification of Positioning Statement Creation: the justification of the new positioning statement is to reassure the customers that Tesla Motors is still determined to improve on its manufacturing agenda while ensuring that it stays true to its mandate on conservation of the environment.
Newly Created Motto: To fast-track the innovation initiation of ecological locomotion.
Defense/ Justification of Motto Creation: the new motto reiterates the company’s goal of providing sustainable and eco-friendly cars that are better in performance compared to the competitors.
References
Investopedia. (2020). Who Are Tesla’s (TSLA) Main Competitors? Investopedia. https://www.investopedia.com/ask/answers/120314/who-are-teslas-tsla-main-competitors.asp
Isidore, C. (2019). Tesla has never needed to advertise, but that might have to change. CNN. https://www.cnn.com/2019/05/31/tech/tesla-advertising/index.html
Mangram, M. E. (2012). The globalization of Tesla Motors: A strategic marketing plan analysis. Journal of Strategic Marketing, 20(4), 289–312.
O’Dell, J. (2016, July 20). What Makes a Tesla Special? These 10 Things, for Starters. NerdWallet. https://www.nerdwallet.com/blog/loans/whats-special-tesla-10/
TESLA MOTORS. (2020). Primary. TESLA MOTORS. http://teslamotorsdeca.weebly.com/primary1.html