Assessment of Tesla Cybertruck Research Paper

Assessment of Tesla Cybertruck Research Paper

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Assessment of Tesla Cybertruck Research Paper

Assessment, Tesla, Cybertruck, Research, Paper

Introduction

Tesla cybertruck refers to a wholesome electric, the light commercial vehicle that is battery powered which is under development by the Tesla, Inc. This is the most unusual and exciting truck to be established in the past decade that exhibits DeLorean looks and equipped with body panels that are bulletproof with an existing air suspension (B G., 2020).

Present a short overview of your brand, product, organization, target audience and market.

Tesla cybertruck operates solely on electricity. It has a sharp edge shaped exterior structure that is resistant to dents and scratches hence it’s very tough. The Tesla cybetruck is establishing the pick-up body style which is the most popular in America. The cybertruck will be inclusive of three distinct configurations which will be dependent on the number of electric motors a cybertruck possesses.

All-wheel drive is standardized on all but single motor versions, concerning this each added electric motor means faster acceleration, extended driving range and the towing capacity is also increased greatly (Allen, 2019). The Cybertruck is available in single, double and three electric motors, the single electric motors comprise of the rare-wheel drive while the double and three modelled motors have four-wheel drives.

Cybertrucks consists of an adjustable air suspension hence allows a provision of approximately 16 inches off the ground and hence can be raised or lowered on the fly. The Tesla cybertruck brand is developed with an increased utility than a truck which has greater performance than a sports car. This all-electric cybertruck has entered a brand-new class of speed, strength and versatility this brings about powerful drivetrain which has a lowered gravity centre that enables torque and traction control extraordinarily (Publishing, 2019).

The Tesla cybertruck target audience comprises of farmers and contractors since the pickup trucks are largely associated with them because in most cases they have value for performance and practical use as opposed to hi-tech design and features. A niche market segment exists for Tesla cybertrucks (Yevseyevich & Yevseyevich, 2020).

What is the need being satisfied by the tangible product (not service)?

Tesla cybertruck replaces the original traditional pickup trucks with stainless steel that is resistant to scratches (Books, 2019). Telsa cybertruck makes a big statement with the impression of good looks, tough image this makes this cybertrucks act as an extension of the owner’s personalities which makes them stand out in the crowd. The Tesla cybertrack presents an increased rate of towing, faster movement and greater performance without direct carbon emissions.

Describe the major macro-environmental trends that might affect your company over the next five years.

Telsa cybertrucks will continuously be affected by the macro-environmental trends over the years, different key factors can be elaborated below.

1. Political factors

An analysis of Tesla Inc. has a clear indication of how macro-environmental trends will continuously affect Tesla cybertrucks. Government regulations are the main society functions that impact industries and businesses (B G., 2020). For instance, trade policies might limit companies’ revenues and industry performance.

Tesla cybertrucks can be affected by political facts through government incentives fo, electric automobiles which is an opportunity, political stability in major markets of Tesla cybertrucks and new global trade agreements for Tesla cybertrucks.

1. Economic factors

Economic condition effects are interpreted on an analysis of Tesla Inc. The economic conditions that affect automotive industries include market growth rate, levels of trade, currencies among other variables (Yevseyevich & Yevseyevich, 2020). Tesla has a role in addressing economical external factors such as lowering battery costs, lowering renewable energy costs and addressing economic stability issues.

1. Social factors

Social-cultural factors also affect Tesla business. This is concerned with how Tesla cybertrucks align with the target audience social trends (Yevseyevich & Yevseyevich, 2020). Tesla should emphasize on increasing the popularity of low carbon lifestyles and also making the renewable energies preference to be increased plus also wealth distribution should be improved in developing markets,

1. Technological factors

Tesla cybertruck advancement depends mainly on the availability of technology hence the advancement of energy solutions by Tesla cybertrucks is dependent on available technology (Allen, 2019). Technological factors significant to Tesla cybertrucks include rapid technological change, accelerating automation of the business world and the increased popularity of mobile systems via the internet.

1. Environmental factors.

This focuses on how environmental factors affect Tesla cybertrucks. For instance, the availability of raw materials used in the process of production is dependent on ecological trends (Publishing, 2019). Telsa cybertrucks are affected by environmental factors such as a change in climate; environmental programs expansion and standards of waste disposal being raised.

1. Legal factors.

This focuses on how laws and regulations affect Tesla cybertrucks together with the managerial decisions of the company, cybertrucks have to be conversant with the expansion of global patent protection, regulations that govern the consumption of energy and also human resources which are still within the legal constraints (B G., 2020).

List the key characteristics of the decision-making process model categories affecting consumer behaviour concerning your chosen product

Tesla cybertrucks consumers undergo different stages of decision making, consumer behaviour can be termed as the process by which a consumer would use to make purchase decisions, the use and the disposal of purchased goods which also includes factors that alter decisions of purchasing and use of products (Books, 2019). This process of consumer behaviour comprises five key stages.

1. Need recognition

This entails an individual identifying that they need a Tesla cybertruck for different uses (Yevseyevich & Yevseyevich, 2020).

1. Information search

Tesla cybertrucks information is majorly accessed via the internet which is spread worldwide and hence information sourced from marketing and non-marketing sources (Publishing, 2019). This includes information on its performance, durability and the ability to adapt to current trends.

1. Evaluation of alternatives

Tesla cybertrucks have a vast range of alternatives and with the information gathered they have to make decisions basing on the features offered by Tesla cybertrucks.

1. Post-purchase behavior.

Telsa cybertruck post purchasing behaviour is long term since its main features are durability and adaptability.

List which segmentation bases your product uses to profile the key segments in the market, which of the bases is the most important?

Tesla Inc. is involved in market segmentation which can be termed as the division of target markets to form smaller and more detailed categories of the market (B G., 2020). Market segments help Tesla Cybertrucks to improve on the products since they provide information about their customers’ needs hence innovation of automobiles.

1. Demographic segmentation

This is one of the commonly used methods of market segmentation and hence the most popular which focuses on the statistical data of a population in Tesla cybertrucks (Books, 2019). Demographic segmentation is further broken down to segments depending on the age of the population, gender, the general income of the population, the location, family situation, annual income, education level and ethnicity within a population. Since demographic segmentation is statistical it’s easier to uncover by use of different market research sites that are adopted by Tesla cybertrucks (Allen, 2019).

1. Behavioral segmentation

This majorly focuses on how the consumer acts and requires Tesla Cybertrucks to be able to identify the actions of (Yevseyevich & Yevseyevich, 2020) the consumer relating to interactions with the company’s brand or away from the company’s brand. Behavioural segmentation can be attributed to the purchasing habits of consumers, their spending habits, their user status and how they interact with different brands.

1. Psychographic segmentation

Tesla Cybertrucks focuses on categorizing the target audiences and consumers based on relation to their characteristics and personalities (Publishing, 2019). This base is more complex to identify since they’re subjective and not focused on that hence they’d require research to establish an understanding. The psychographic segmentation may be dependent on personal traits, values and attitudes, consumer interests and lifestyle and also what motivates consumers and their priorities.

1. Geographic segmentation

This type of segmentation is the simplest used by Tesla Cybertrucks and it distinguishes consumers based on geographical boundaries (Books, 2019). This can be based on city, country, ZIP code, climate and weather plus whether a location is urban or rural.

The most important base used by Tesla Cybertrucks is the demographic segmentation since its based-on data which means its factual and would be easy to uncover based on the data provided within a target audience (Yevseyevich & Yevseyevich, 2020).

Describe your products positioning strategy. Provide positioning map to explain your answer.

Tesla cybertrucks employs the aspect of product positioning strategy which can be referred to as a marketing strategy which helps in placing a product in perception in the minds of customers.

Tesla Cybertrucks has designed a positioning strategy that has drawn an effective picture to their consumers about their automotive, this has had an effect of painting a sustaining effect image in the mind of their consumers (McDonald, 2007).

1. cyber trucks price

Tesla Inc. has been able to associate itself in the market with competitive pricing which has helped them gain an incredible share of the market.

1. cyber trucks attributes

Tesla Cybertrucks has been able to develop automotive trucks that have beneficial value and distinct characteristics hence acquiring markets.

1. Cybertrucks quality

Tesla Cybertrucks over the years has been providing high-quality automotive trucks while working on innovation and invention of better and more efficient cybertrucks (Publishing, 2019).

1. cyber trucks use and application

Tesla Inc. has had automotive trucks over the years that have had greater use, especially to farmers and construction industry.

1. Tesla cyber trucks Competitors

Through product promotion and product position, Tesla Inc. has been able to create a unique picture in the mind of their consumers which makes them appear as if they are the only ones in the market of automotive trucks (McDonald, 2007).

Product positioning map can be used to elaborate on Tesla cybertrucks

• Sporty
• Porsche 911 mini copper
• Tesla cybertruck
• Peugeot 308 GTI
• Audi A4 VW golf
• Honda civic
• luxury economy
• Bentley Mulsanne Toyota Aygo
• Lexus IS
• BMW Tourer Volvo V60
• Family

Describe the major elements of the core, actual and extended product.

Tesla cybertrucks can be said to be having three levels that are singe motor, double motor and three motor electric cybertrucks. These electric motor levels can be translated to distinct levels that comprise of the core, actual and extended levels. In each stage of the Tesla Cybertrucks, there’s value addition which intern increases consumer value (Allen, 2019).

1. Cyber trucks Core consumer level

This is the initial and most basic level of a Tesla cybertrucks (Books, 2019). Generally, the initial level establishes what the consumer is interested in buying and hence when Tesla Cybertrucks markets the automotive trucks it thinks about the core problems in the market when designing its trucks hence this establishes what need is being solved and what benefit does the consumer seek.

1. Cybertruck Actual product level

This is the second level of Tesla Cybertrucks level, here the core customer value is identified by the actual product and hence marketers should turn to the main benefit of the automotive (B G., 2020). In this level the Tesla Cybertruck features are developed, designed, quality level assessed.

1. Cyber truck Extended product level

This is the final Tesla Cybertruck level which is termed as the augmented product, primarily this level provides consumers with additional benefits and services hence a truck is more than what’s seen during the purchase (Publishing, 2019). Whatever Tesla Cybertruck is purchased by a consumer is a complex structure of benefits whose aim is to satisfy the needs of an individual.

At what stage of PLC (product life cycle) do you think your chosen product is currently? Why do you say so?

Tesla Cybertrucks is currently in the growth stage of the product life cycle which is based on marketing decisions and management within the business (Publishing, 2019). Products comprise of several stages of the life cycle that comprises of introduction stage, growth stage, maturity stage and declining stage.

1. Introduction stage

This stage entails the introduction of the automotive trucks into the market when a product is introduced into a new life cycle it encounters many obstacles. This stage is characterized by light competition, often a modification of products, distribution is limited and a lot of product promotion (Yevseyevich & Yevseyevich, 2020). Throughout this stage, the production and marketing costs are abnormally high with low sales volumes hence small or negative profits.

1. Growth stage

Once Tesla Cybertrucks has gone through the introduction stage it gets into a new level which is the growth stage level. This stage is characterized by an increased rate of sales, profits are advanced and therefore many competitors are introduced into the market, there’s is more emphasis on brand advertising and distinct brands characteristics as compared to primary demand promotion.

Here distribution is a crucial key hence Tesla Inc. is seen scrambling for distributors and acquiring deals to build a relationship on a long-term basis. (Books, 2019) At the end of this stage, prices start decelerating and profits reach the optimum point which means firms can recover their development costs hence their key goal shifts to increasing and maintaining market share and stabilizing profits.

Tesla cybertrucks is currently at the growth stage of the product life cycle since electric vehicles are becoming widely accepted which means increased sales.

Explain the benefits distributors provide to your company and product in the market.

Tesla Inc. greatly engages in product distribution. Through distribution, the company’s product can reach a vast target audience without the company having to incur financial costs in the development and maintenance of the business network (B G., 2020). Distributors have a wide range of benefits when they’re involved in the distribution of a company’s products.

1. Cyber trucks wide consumer base

Distributors engage in building markets and hence they have proper knowledge of these market segments thus enabling them to have a wide consumer base (Publishing, 2019). This saves Tesla cybertrucks of putting additional efforts to establish a market base.

1. cyber trucks market understanding

Distributors have a wide range of information that helps them understand the cybertrucks market better, distributors know potential markets and where products would attract more buyers (Yevseyevich & Yevseyevich, 2020).

1. cyber trucks Sales and marketing

Distributors engage in product promotion especially being a link between manufacturers and consumers, with a positive reputation the company products will also have a positive image to consumers (Allen, 2019).

1. Logistics

Distributors help the company with logistic activities by transporting the company’s product from the point of production to the point of consumption. (McDonald, 2007).

1. Storage

Storage facilities might be expensive and via distributors, the company is relieved off these costs since distributors help in the storage of the company’s products before distributing them to the final consumer (Yevseyevich & Yevseyevich, 2020).

1. Distribution channels

Distributors help the company in establishing distribution channels in different market segments which probably the company wouldn’t be able to penetrate (Publishing, 2019).

1. Financial savings

Distributors engage in activities which would otherwise be done by the company, for example, repackaging hence this reduces the costs of the company thus saving finances. Financial resources not spent on business purposes can be termed as financial savings (McDonald, 2007).

1. Faster cyber trucks market route

Distributors having a wide range of information about the existing and potential markets they’re able to reach the market way faster than a company would have done on its own (Yevseyevich & Yevseyevich, 2020).

Which pricing strategy do you feel the company is pursuing with your chosen product? Explain why.

Tesla Inc. being in the market it engages in pricing. Pricing is a major component of any marketing strategy therefor pricing strategy can be described as the methods diploid by companies in arriving at their prices of different products, different pricing strategies are used (Publishing, 2019).

1. Competitive pricing

This is a pricing strategy where a company arrives at the pricing of its products with basing on prices charged by competitors.

1. Cost-plus pricing

This refers to a pricing strategy that involves the calculation of the costs of production then adding the mark-up to arrive at a company’s product price.

1. Value-based pricing

This is a pricing strategy that is basically based on the consumer and how much they believe the company’s product is worth.

1. Price skimming

This involves a pricing strategy that concentrates on setting higher prices than lowering them with the evolution of the market.

1. Price penetration

This is a pricing strategy that focuses on setting lower prices than raising them once the product enters the market.

Tesla Inc. chose a competitive for cybertruck which has made it to be the cheapest full-sized pickup. Tesla has become a revolutionary brand which all the cars it has manufactured uses electricity as fuel hence development of cybertrucks which has captured a wide market range (Yevseyevich & Yevseyevich, 2020).

Choose one promotional material for your chosen organization. In light of your knowledge of communication theory, identify and explain the elements of the communication process in the promotional material in details.

Tesla cybertrucks uses brilliant brand and marketing campaigns, for example, the use of cybertrucks in movies made everyone to want to have them (Allen, 2019). Driving a cybertruck would seem like driving in mars. Tesla cybertruck consumers have an unrevealed desire for such an electric car derived from their use in the latest movies.

Tesla Inc. deploys the communication theory by using outlaw brand archetype tactics to create a positive communication channel (Books, 2019).

1. Sender

Tesla Inc. formulates and writes the information it intends to be conveyed to the consume on these promotional gifts.

1. Message

Tesla Inc.’s feeling and ideas of the company are conveyed through the promotional gifts.

1. Encoding

The ideas of the company are converted into symbols and words which brings a connection of words and the company’s actions.

1. Media

Tesla Inc. uses different forms of medium for the passage of information from the company to the consumer informed throughout low brand archetype tactics.

1. Decoding

Tesla Inc. is responsible for translating the encoded message via outlaw brand archetype tactics into simple languages that can be easily understood by the target audience in the market.

1. Receiver

The consumer is the receiver of the intended message by the company which is passed in the form of advertisements.

1. Feedback

This is the endpoint of the communication process Tesla Inc. company receives feedback through how the market responds to its various products.

CONCLUSION

Tesla is greatly changing the car industry with its advancements in Tesla Cybertrucks. Cars used to be sold as completed and finished products and car buyers do not expect at any point for new cars to change or improve once they’ve rolled out of the dealers’ premises and only occasional maintenance and repairs are conducted to keep vehicles functioning (Allen, 2019). Tesla, on the other hand, releases software frequently that is responsible for updating the functionality of the cars the manufacture and design hence continuous modification of cars once they’ve been sold.

References

Allen, S. N. (2019). Lasted yet another year. Steve N Allen.

B G. (2020). Back from the future: A celebration of the greatest time travel story ever told. Mango Media.

Books, N. T. (2019). Tesla fan puzzle book: Tesla Motors fan puzzle book for adults and kids of all ages.

Publishing, V. (2019). Make shit happen – Cybertruck Black cover notebook: A tool for you to save your big ideas, and make sure those crazy thoughts become reality!

Yevseyevich, A., & Yevseyevich, D. (2020). Architecture Ethereum DApp with angular, angular material and NgRx. Alex Yevseyevich.

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