One could argue Musk was too successful in pushing his rivals to embrace electrification. However, as identified in this SWOT analysis, there are various issues that the company must address to maintain its competitiveness and improve its profitability. But Tesla struggles to meet deadlines and frequently delivers flawed vehicles, and profitability remains elusive. New features like Smart Summon are generating a lot of buzz. Tesla’s corporate social responsibility efforts are satisfactory in addressing the interests of most of its stakeholders. Thus, you can have a greater margin of benefits at the same time that the customer can save by paying less than if he bought it through the current dealer. Such reform should increase strategic effectiveness in addressing the strong force of competition shown in the Porter’s Five Forces analysis of Tesla Inc. Chen, W. M., Kim, H., & Yamaguchi, H. (2014). Market Positioning refers to the ability to influence consumer perception Competitive Advantage A competitive advantage is an attribute that enables a company to outperform its competitors. But Tesla has to execute on the manufacturing front to make this all possible. J.D. Even though its business has shown considerable profitability, Tesla needs to address the following threats to maintain resilience despite the changing conditions of the automotive industry: Automotive companies aggressively compete against each other. For example, competitive forces limit the company’s potential revenues from the global market for electric vehicles, batteries, and solar panels. Renewable energy in eastern Asia: Renewable energy policy review and comparative SWOT analysis for promoting renewable energy in Japan, South Korea, and Taiwan. Apart from that the brand also installs, operates and maintains solar and energy storage products. Copyright by Panmore Institute - All rights reserved. Taking the whole premium segment into account, premium cars contribute around 10% of the unit sales volume but 20% of the revenues and nearly half … Also considered in this SWOT analysis, the Tesla brand is a strong symbol of innovation and renewable energy solutions, in line with CEO Elon Musk’s business goals. For example, expansion in foreign markets increases the company’s revenues and stability. These internal factors are weaknesses that can reduce Tesla’s competitiveness and business growth. GM beat Tesla to the punch by releasing its mass-market EV, the Chevy Bolt, months before the Model 3. Tesla’s huge competitive advantages, imho, are: 1) The battery supply chain it is building for itself (and maybe some friends) I thought it was obvious before, but […] As of 2020, there are several marketing strategies like product/service innovation, marketing investment, … Also boosting Tesla's prospects is its international expansion. In order to do that, it needs robust demand, international expansion, and diversification into other markets. Before you dive into this post, take a look at our brand report on Tesla and its share of voice in the automotive industry. Tesla is the maker of high performance and fully electric vehicles and energy storage systems. [Full disclosure: I’m long TSLA… for obvious reasons.] Leigh, D., & Pershing, A. J. Marketing Mix of Tesla analyses the brand/company which covers 4Ps (Product, Price, Place, Promotion) and explains the Tesla marketing strategy. For GDPR compliance, we do not use personally identifiable information to serve ads in the EU and the EEA. The results will help you develop brand positioning and improve your marketing assets. Before you dive into this post, take a look at our brand report on Tesla and its share of voice in the automotive industry. which have helped the brand grow. Tesla has the first-mover advantage as well, but that doesn't mean its leadership won't be tested. Beyond electric vehicles, Tesla has an opportunity to diversify the business into the energy market, which could boost shares if it becomes something meaningful. Tesla, Inc., which was Tesla Motors Inc. in the former days, has reached the heights of success as a dynamic automotive and energy solutions organization. “How Tesla Motors Inc. can improve its strategy to sustain its competitive advantage on the electric vehicle market and confirm its position as a transformational leader in sustainable lifestyle Keep in mind this was two years before the car was in production. See you at the top! This SWOT analysis shows that the company has the strengths needed to maintain profitability in the long term. @themotleyfool #stocks $TSLA $F. This isn't an approach that necessarily works for everyone, but when you've built a hype machine as Tesla has done, the rules of social media start to change. Tesla must improve its multinational presence. The external factors that limit or reduce Tesla’s organizational performance are covered in this aspect of the SWOT Analysis. It was completed in record time, taking a little over a day to complete. Marketing Positioning Tesla / Positioning a product 1. The results of the SWOT analysis also suggest strategic reform to ensure Tesla’s competitiveness and long-term success in the global automotive and renewable energy markets. I think the OP fails to appreciate the elegance of Tesla’s current marketing strategy. Investing in Tesla requires resolve given the volatile nature of its performance and its stock price. In considering the results of this SWOT analysis, with the goal of improving business competitiveness, growth, and development, it is recommended that Tesla Inc.: We use cookies for website functionality and to combat advertising fraud. While Tesla may have been free cash flow positive in recent quarters, the amount does not seem to be large enough to grow Tesla’s cash position to its current level. However, the company can improve its CSR programs to improve its performance in supporting communities and investors/shareholders. The internal factors that limit organizational performance are identified in this aspect of the SWOT Analysis. Positioning statement For DRIVERS WHO ARE KEEN ON INNOVATION, TECHNOLOGIES, COMFORT and WANT TO BE AHEAD OF THE CROUD; TESLA is the only PREMIUM CAR that goes FROM 0 TO 100 in 3 SECONDS and can reach 260 KM/H WITHOUT ANY … In the context of this business analysis, weaknesses are issues that the company must overcome through strategies, reforms, and initiatives. Tesla, Inc. has the strengths to remain successful in the business in the years to come. These factors define the environment in which the business operates and develops. But Tesla struggles to meet deadlines and frequently delivers flawed vehicles, and profitability remains elusive. TESLA MARKETING STRATEGY; Tesla Marketing Mix and Marketing Strategy. These platforms are used to stay in touch with the customers and share all the news related to the company. Tesla (TSLA) is seen as being able to “maintain a strong market position” by Goldman Sachs who upgrades the company in a new coverage update. He predicted Tesla's energy business will be big or bigger than its car operations. Based on this aspect of the SWOT analysis, Tesla must maintain competitive advantage to remain profitable despite aggressive competition from large automotive firms. If these cars are popular in China, it could help Tesla maintain a global leadership position in the electric vehicle market. Pricing is expected to be around $49,000, undercutting its rival Rivian, which is rolling out two electric trucks starting at $61,000. It took months, but Tesla will finally enter the S&P 500 Index, solidifying its position as one of the world’s leading auto makers. 2. For example, the company manufactures automobiles and many of their components. It ended the third quarter with $5.3 billion in cash. They likely invest significant money in their marketing strategy. See our Privacy Policy page to find out more about cookies or to switch them off. Tesla has saturated the markets where it can legally sell cars. Is Tesla becoming an automotive behemoth and leaving its competition in the dust? When Tesla's stock wobbles, as in the drop … China is an important market for the carmaker given the large pool of consumers it can tap. Tesla’s corporate social responsibility efforts are satisfactory in addressing the interests of most of its stakeholders. Thus, it is a good idea to let the marketing team dedicate a part of their strategy and efforts to work on improving the leadership’s social media presence and authority. Its solar roof tiles, which it just launched a new iteration of, haven't taken off with consumers yet, but there are promising signs that the business is finding its footing. Tesla’s Model S is expensive (it ranges from $70,000 to over $100,000), but its range is 265 miles, more than triple that of Nissan’s Leaf (75 miles). Such a strong brand optimizes the company’s ability to attract and retain new customers. What is Market Positioning? This ultimately results in making … Returns as of 12/19/2020. This external factor puts emphasis on the relatively small extent of the company’s operations, compared to larger firms like General Motors. The following table illustrates Tesla segmentation, targeting and … Market data powered by FactSet and Web Financial Group. In this SWOT analysis for the company, we highlighted each of the strength, weakness, opportunity, and threat which Tesla faces in the market. Amid … On an ending note – no, Tesla doesn’t have $0 as its marketing budget. This factor is a strength that minimizes issues linked to the involvement of third parties. He described it as something out of Blade Runner. The battery supply chain it is building for itself (and maybe some friends) I thought it was obvious … To grow its market share and financial stability, Tesla needs to take vigorous actions. Tesla, Inc. has major opportunities to improve its financial standing and competitiveness in the global automotive and energy markets, as follows: In relation to its weaknesses, Tesla must consider the opportunity for global sales expansion. Tesla’s stock price recently took a hit because of concerns about its delivery capabilities and about increasing competition from carmakers who are switching their product lines to electric. New Target Market: Target: In order for Tesla Motors to keep growing now and into the future, it is going to be important to expand their target market to reach more consumers. In this company analysis case of Tesla, the following strengths shape the capabilities of the business as a competitive player in the automotive industry: Tesla, Inc. is known for its high rate of innovation, especially in introducing the world’s first fully electric sports car. Also, Tesla actively engages its CEOs in the marketing of the company. It got its production up and running in China, its gross margins increased even as the price of the Model 3 comes down, and it's about to launch a new truck. This positive outlook holds despite challenges in expanding the business. Comparing the results to its competitors, Tesla Inc reported Total Revenue increase in the 3 quarter 2020 by 39.16 % year on year. • Away from a Competitor: Positioning yourself as the opposite of your competitor can help you get attention in a market Tesla has 17 stores worldwide to sell its cars. Not only that, but Tesla's software design is state-of-the-art: the fact that Tesla can update vehicle software over-the-air (OTA) as if it were Apple updating an iPhone is unprecedented. Jackson, S. E., Joshi, A., & Erhardt, N. L. (2003). For example, the company’s strong brand can support strategic expansion in the global market. You'll also get to see how great your reports can look with our example social media report template. Competitive advantages allow a company to achieve regarding a brand or product relative to competitors. For instance, Tesla managed to raise its cash reserves by nearly 80% or $5 billion within a single quarter from 2Q20 to 3Q30. Since its launch in September, it's been used more than one million times. In 2006, Elon Musk shared his ‘ Secret Tesla Motors Master Plan (just between you and me)’ on the Tesla website. The company and its celebrity CEO Musk are household names. If Tesla can deliver products that meet that need, it could be a huge opportunity. Instead of following the usual guidelines of "tweet this much, include videos" etc., you start to make your own. This SWOT analysis also determines that the company’s limited supply chain is a related weakness that prevents the company from rapidly expanding in such markets. The graph below comparing sales and market cap puts context around that question. Tesla, Inc. must implement reforms that include the internal strategic factors (strengths and weaknesses) and external strategic factors (opportunities and threats) enumerated in this SWOT analysis. Cumulative Growth of a $10,000 Investment in Stock Advisor, Where Will Tesla Be in 5 Years? For example, new facilities and sales operations in high-potential developing countries can enhance business growth, satisfying Tesla’s corporate mission and vision statements. It reported that energy storage deployment hit 477 MWh in the third quarter, an all-time high for the company. Moreover, Tesla’s products are relatively more expensive than competing cars, especially those that have internal combustion engines. The average customer needs to look and feel his/her car in real life, test drive it, and then only come to a decision whether to buy it or not. Tesla, Inc. (formerly Tesla Motors, Inc.) succeeds as an innovative automotive and energy solutions business. This SWOT analysis shows that Tesla has the potential to grow in the global automotive market despite aggressive competition. Tesla is by far the leader in the electric vehicle market today. Let's conquer your financial goals together...faster. Tesla’s stock price recently took a hit because of concerns about its delivery capabilities and about increasing competition from carmakers who are switching their product lines to electric. Download our Tesla SOV brand report now! • List of TSLA Competitors REDSTAR Project Next step in Tesla’s marketing strategy Red Star Project TESLA’S MODEL 3 LAUNCH IN RUSSIA 2. Specifically, the electric automaker positions its products and services for a market segment that has low turnover with the anticipation that the turnover will increase in the future. Assuming Tesla can keep growing sales, the car company will be in a good position to succeed as a stock. SWOT analysis of Tesla Motors analyses the brand/company with its strengths, weaknesses, opportunities & threats. These external factors are opportunities that Tesla can use to improve its business performance, management effectiveness, and strategic growth, among other aspects. In this way, you can explore different topics in-depth and get feedback from the participants. The sales growth was above Tesla Inc 's competitors average revenue growth of 7.7 %, recorded in the same quarter. Diversify the supply chain to reduce supply-side risks. Earlier in 2019, it was dealing with losses, and come spring, it has a surprise profit. The Model X is also a strong indicator of whether Tesla can follow-up on its initial success, or if it just got lucky with the right product at the right time. Stock Advisor launched in February of 2002. Tesla would need to achieve another personal best in order to top its original forecast. 2 The Company Tesla Motors Tesla Motors (Tesla) is a global enterprise designing, producing and marketing electric powered vehicles and its components e.g. … Market Positioning refers to the ability to influence consumer perception Competitive Advantage A competitive advantage is an attribute that enables a company to outperform its competitors. Assuming Tesla can keep growing sales, the car company will be in a good position to succeed as a stock. Tesla has 17 stores worldwide to sell its cars. Despite its strong brand as a manufacturer of electric vehicles, Tesla, Inc.’s performance and potential future growth suffer from the following major weaknesses: Tesla suffers from limited market presence. It is famous for its innovative approach in the market because of its dominant position worldwide. “How Tesla Motors Inc. can improve its strategy to sustain its competitive advantage on the electric vehicle market and confirm its position as a transformational leader in sustainable lifestyle What is Market Positioning? However, some states like Virginia and Texas prohibits direct sales of the company’s products, requiring that such sales must go through dealerships. A lot of vehicle manufacturers, including Ford (NYSE:F) and BMW, are getting into the market. Here are four marketing lessons that can help any business wanting some of Tesla’s magic to work for them. At present, Tesla directly sells its products to customers without dealership involvement that increases selling prices. Including these strategic factors in reforms can boost business performance and resilience in the global market for electric automobiles and related transportation and energy solutions. It can improve retailing strategy by collaborating with service providers like mechanics, part suppliers and sales teams across the countries. Tesla has literally changed the way we buy cars. A memorable example is Avis Rental Cars’ We’re #2. This aspect of Tesla’s SWOT analysis points to the benefits of international expansion. Factors in SWOT analysis applied to micro, small-to-medium, and large software enterprises: An Austrian study. GM beat Tesla to the punch by releasing its mass-market EV, the Chevy Bolt, months before the Model 3. We try harder. However, the company can improve its CSR programs to improve its performance in supporting communities and investors/shareholders. By positioning manufacturing in these regions, Tesla can more easily serve international customers. For example, the company generates most of its revenues in the United States and has a small presence in China and the developing world. In Tesla’s case, this involves building out a network of superchargers, battery swap stations, and service stations. In this SWOT analysis, another opportunity is to expand Tesla’s supply chain to support the global expansion of production and sales operations. According to Tesla, it opens these stores in places “people regularly visit in a relatively open-minded buying mood.” During the quarter, it deployed 43 MW of solar, which is 48% more than in the second quarter. The feature enables customers to summon their car from a parking spot or driveway without a driver behind the wheel. If Tesla can stay the course, it's poised for more growth over the next five years. Tesla Inc.’s Organizational Culture & Its Characteristics (Analysis), Tesla Inc. Five Forces Analysis (Porter’s Model) & Recommendations, Tesla, Inc.’s Mission Statement & Vision Statement (An Analysis), Tesla, Inc. PESTEL/PESTLE Analysis & Recommendations, Tesla, Inc.’s Generic Strategy & Intensive Growth Strategies (Analysis), Tesla Inc.’s Organizational Structure & Its Characteristics (Analysis), Tesla, Inc.’s Marketing Mix (4Ps) Analysis, Tesla, Inc.’s Corporate Social Responsibility & Citizenship, Stakeholders, Tesla, Inc.’s Operations Management: 10 Decisions, Productivity, Toyota External Analysis: Opportunities & Threats, General Motors Company SWOT Analysis & Recommendations, Ford Motor Company’s Mission Statement & Vision Statement: An Analysis, Toyota’s Mission Statement & Vision Statement: An Analysis, General Electric Company (GE) SWOT Analysis & Recommendations, Ford Motor Company: Five Forces Analysis (Porter’s Model), Ford Motor Company PESTEL/PESTLE Analysis, General Motors PESTEL/PESTLE Analysis & Recommendations, Porter’s Five Forces analysis of Tesla Inc, Tesla’s corporate mission and vision statements, United States Department of Commerce – International Trade Administration – Automotive Products: Expanding a Key Industry to TPP Countries, United States Department of Commerce – International Trade Administration – The Automotive Industry in the United States, United States Department of Commerce – International Trade Administration – Top Markets Series: Renewable Energy. Marketing Mix of Tesla analyses the brand/company which covers 4Ps (Product, Price, Place, Promotion) and explains the Tesla marketing strategy. Positioning statement TESLA is the only STYLISH CAR that can go FROM 0 TO 100 in 3 SECONDS without A DROP OF OIL 20. The Surprisingly Good Reason Why Tesla Should Acquire Ford, Report: Construction on Tesla Berlin Gigafactory Again Halted Over Non-Payment, Wall Street Braces for the Impact of Tesla's Big Day on Monday, Stock Markets Fall as Tesla Prepares to Join S&P 500; Share Move Hits Virgin Galactic, Copyright, Trademark and Patent Information. Here's what analysts say the company can … Recent research on team and organizational diversity: SWOT analysis and implications. Yet there is no doubt that despite the negative factors, the company is an ultimate symbol of progress and innovation. Competitive advantages allow a company to achieve regarding a brand or product relative to competitors. Tesla's stock fell more than 3 percent Monday after news broke that the electric car maker had asked suppliers to return some of its payments. Tesla also uses anticipatory type of positioning. If your business can create and maintain competitive advantage, then you can position yourself as a market leader. It needs to increase market share in the 20 states that have banned or limited how many stores it can have. Power ranks Tesla last, unofficially, among 32 brands in its 2020 Initial Quality Study. The article also covers top Tesla Motors competitors and includes Tesla Motors target market, segmentation, positioning & Unique Selling Proposition (USP). You'll also get to see how great your reports can look with our example social media report template. Investors in Tesla have had a rocky ride over the years, but it seems to be firing on all cylinders these days. Also boosting Tesla's prospects is its international expansion. As cars become more tech-savvy, Tesla is in the lead. This aspect of the SWOT Analysis of Tesla Inc. deals with the business strengths that contribute to organizational growth and improvement. Moving forward, Tesla plans to continue building on its first round of Tesla360 surveys. The internal factor of strong control on production processes is based on vertical integration, as well as the centralization and hierarchy in Tesla’s organizational structure. This internal strategic factor is a weakness that limits business growth based on the rapid economic development of overseas markets. However, limited global operations remain a weakness that, along with other issues identified in this SWOT analysis, Tesla must address to maintain international competitiveness and corresponding business growth. Shares of Tesla (NASDAQ: TSLA) are up sharply again on Thursday, extending a bullish run for the stock this week. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Tesla is also continuing to innovate with its vehicles, including an electric truck that it plans to unveil on November 21. Goldman Sachs just upgraded Tesla to a "buy" from "neutral," and raised its price target to $780, a 40% upside from current levels. How successful Tesla will ultimately be is up in the air. The corporation’s management can expect better performance upon addressing the identified SWOT factors. SWOT analysis. Tesla builds cars by developing software on unique hardware, much in the way Apple develops the iPhone or Microsoft leverages Intel chips and Dell PCs. Yet, Tesla name recognition is very high. Tesla will look to leverage the resulting longitudinal data to better engage its employees, because as Efron said, “Caring for people is the right thing to do, but … It's also operating in a market that's seeing increased competition, threatening its leadership position. As shown, Tesla’s sales are a fraction of every other major manufacturer. This article may not be reproduced, distributed, or mirrored without written permission from Panmore Institute and its author/s. A tall order, but one that, judging from its recent moves, is possible. According to Tesla, it opens these stores in places “people regularly visit in a relatively open-minded buying mood.” This external strategic factor threatens Tesla, considering current efforts of other firms in producing electric vehicles. Continue or increase investments for product innovation. The article also covers top Tesla Motors competitors and includes Tesla Motors target market, segmentation, positioning & Unique Selling Proposition (USP). The fluctuations in material prices are another threat determined in this SWOT analysis. SWOT analysis of Tesla Motors analyses the brand/company with its strengths, weaknesses, opportunities & threats. Tesla (TSLA) is seen as being able to “maintain a strong market position” by Goldman Sachs who upgrades the company in a new coverage update. New customers is Tesla becoming an automotive behemoth and leaving its competition in the 3 2020... Assuming Tesla can keep how can tesla improve its market position sales, the Chevy Bolt, months before the Model 3 per. Devoted to helping you live a richer life media, specifically on Twitter and EEA. Will help you develop brand positioning and improve your marketing assets internal engines. But one that, judging from its recent moves, is possible need to achieve regarding a brand product! 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