Research Paper On Tesla

III. Consumer Summary

Tesla Motors’ target market is rather small. This is because the owners are often referred to as

“eco-hipsters,” “affluent environmentalists,” or “rich early adopters.” With the new growing popularity of the Model S, it is no surprise that their target audience is older wealthy people

(baby boomers) who are viewed as “too practical to buy their own roadster edition but still getting a little bored with the family Prius.” Tesla is also targeting the younger generations that desire to build prestige and status (Tesla Consumer Summary, Examiner.com). The main consumer of Tesla Motors cars is one who desires a “combination of functionality, performance, style, and energy efficiency.” In effect, this would draw consumers from

Tesla’s “go to market” strategy is to utilize word of mouth, internet, and trade shows to promote their products (Teslamotors.com). Tesla also acknowledges that it differentiates itself from its competitors in that it delivers the most environmentally responsible vehicles on the market with all of the benefits of a premium car: speed, handling, comfort, and fun (Tesla

Market Report). Tesla is using many celebrities to endorse their products. These include Jay

Leno, Matt Damon, and Leonardo DiCaprio because they bought Roadsters. Also, there are successful businessman that own Roadsters such as Sergey Brin (Co-founder of Google),

Michael Dell (founder and CEO of Dell), Jay Adelson (Chairman of dig), and Dean Kamen

(Segway inventor) . Tesla has even gone as far as promote their car in movies such as Iron

Man (Tesla Motors Report).

The growth projection for those who will buy electric vehicles has a positive trend. According