7/29/2023 0 Comments Tesla bcg matrixThe company acquired the rights to a 10,000-acre plot in Nevada. In Battery Day event in September 2020, CEO Elon Musk announced that the electric car maker had plans to enter into mining business. This is mainly due to overly high cost of new product development in electric vehicles and power storage sectors. Tesla engages in new product development infrequently. This strategy implies the development of new products to sell to existing markets. The company is focused on selling its Model S, Model X and Model 3 electric vehicles, Powerwall 2 and Powerpack 2 energy storage products, as well as, solar panels, inverters, racking, electrical hardware and monitoring devices in the US and 35 other countries. Tesla uses market penetration strategy extensively. This strategy involves selling existing products to existing markets. Within the scope of Ansoff Matrix, Tesla uses all four growth strategies in an integrated manner:ฤก. According to Ansoff Matrix, there are four different strategy options available for businesses: market penetration, product development, market development and diversification. Tesla Ansoff Matrix is a marketing planning model that can be used by the alternative fuel vehicles manufacturer to make strategic decisions.
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