Tesla Inc.
Autor: Momanyi David • March 22, 2018 • Case Study • 609 Words (3 Pages) • 381 Views
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Tesla Inc.
Tesla is a multinational company that deals in the production of automotive and the manufacture of vehicle accessories. The company is based in California, United States. Ever since the foundation of the organization, the company has managed to expand owing to its ability to produce quality products that seem to appeal to the market. This is a key factor that leads it to become one of the leading automotive manufacturers around the globe. The company experiences an equivalent rate of competition from other automotive manufacturing companies such as BMW. The company has managed to stabilize the rate of competition in a unique way. The paper discusses how Tesla manages to record a high level of profit compared to BMW.
The adoption of proper administrative strategies is a key factor that leads to the high level of profits made annually. Over the decades, the company has been keen on ensuring that it comes up with a precise way of ensuring that administrative activities take place in precise ways (Cooper 113). The activity included employing experienced personnel on the top management structures. This is a key initiative that led to the success of the company within its industrial domain leading to the creation of a perfect competitive structure. Compared to BMW, this is a crucial element that has led to the success of Tesla within the industrial domain.
Marketing plays a vital part in the attainment of an organization within the industry. The activity revolves around the adoption of proper promotional strategies to create awareness of the company product within the market. Tesla has taken the initiative of ensuring that it understands perfectly the needs of the market before improving on the products that they distribute in the market(Cooper 131). The use of personal selling, advertisements, and exhibitions is a key factor that leads to the high profits. Its promotional methods are quite sophisticated compared to the ones that BMW uses. Personal selling and exhibitions permit the company to demonstrate how automotive and the accessories are used up leading to the creation of customer confidence on their products.
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