Tesla Brand Management

Brand Management Assignment

Brand- Tesla

Aishvarye Agarwal I003

Group 2

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In the world of unimaginable possibilities and blessed minds capable to portray it through remarkable novels like “Journey to the centre of the Earth”- By Jules Verne  to the recent  anthology TV series –Black Mirror there is a   brand which is continuously  thinning boundaries between reality and dreams and never stops to amuse me . The brand I love and admire the most is Tesla and there are multiple reasons to justify the way I and all Tesla lovers feel for it.

Innovative and futuristic are the words which come first to my mind when I hear about Tesla. The best thing about Tesla is that it sets lofty goals (Big-Hairy-Audacious- Goals) which look crazy and seemingly impossible to achieve to a normal organization but Tesla makes it happen because of the conviction, leadership support and culture of innovation. In 2006, just in three years of its foundation the Elon Musk Company had received the Time’s Best Inventions Award for its all electric Tesla Roadster- the first electric vehicle to travel 200miles per charge.

Compelling mission and vision statement:

Mission:  “to accelerate the world’s transition to sustainable energy.”

The mission statement was modified to from sustainable transport to sustainable energy to match Tesla’s current strategic business objective. The company expects growing demand and successful dominance in the global market for electric automobiles and renewable energy solutions in the future

Vision: “To create the most compelling car company of the 21st century by driving the world’s transition to electric vehicles.”

The vision statement indicates leadership and excellence in the business and concern for environmental conservation and the aim to be a dominant player in the electric vehicle market.

Customer Centric: It acknowledges and addresses issues via social media directly. It listens to Tesla owners and reviewers offering  suggestions which grows consumer loyalty and trust of the brand

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Point of difference: Tesla doesn’t spend money on advertisement and doesn’t offer car via sale through dealerships instead they setup showrooms in shopping malls to grab eyeballs.