Elon Musk Set to Unveil a New Tesla for the Masses- the Model Y SUV
This article relates to target marketing because Musk is trying to create something that is most favored by the consumer, which in this case happens to be small SUV's. By creating a new Model, he is expanding his target market in hopes to make more sales and greater consumer utility. This also relates to the four P's, more specifically, the price aspect. Musk is working on how to lower the price of his vehicles in order to meet the qualifications for potential buyers. The article says that the average price people are willing to pay for a new car is $32,500 as of last year, while his various models have a starting price above that. Musk understands this is a serious problem which is why it is a big concern of his to reduce the costs of production.
I picked this article because I like to see what's new and upcoming. New innovations can change how society operates and I want to make sure I'm in the loop at all times. I also think that car designing is interesting because the process starts with an idea and hopefully turns into an actual product, a car.
Link: https://www.wsj.com/articles/elon-musk-set-to-unveil-a-new-tesla-for-the-massesthe-model-y-suv-11552474803?mod=searchresults&page=1&pos=9
This post was interesting in that it is impressive to see how far Tesla has come after only being in the market for less than 10 years. Also, I liked your analysis of the target market for the new Model Y. Overall, it was a great post.
ReplyDeleteI thoroughly enjoyed reading this post. I have followed Tesla for several years and have always thought they were a company that grew and developed new products much too quickly. This post not only discussed the new invention Elon Musk is bringing to the table, but it also explained how this new innovation is related to the marketing concept(s). In doing so, it is clearly found that the costs of production must be reduced in order for this new Tesla model to be successful and for it to be appealing for consumers.
ReplyDeleteI am impressed to see Tesla take a step forward and attract another target market. People often think about Tesla as a luxury brand and providing cheaper prices is sure to increase sales. Also, you did a good job addressing how this article relates to our class.
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