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UNIT ONE: EXPLORING BUSINESS- Assignment 3 (Presentation)
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Rebecca Linfoot Exploring Business 30/01/20Tesla Presentation (Distinction)
Justify the use of innovation and enterprise for a business in relation to its changing market
and environment.
The change in Tesla’s customers
Between 2012 and 2017, Tesla innovated and improved their products and service faster
than all other car manufacturers for example BMW, Audi and Ford. This was due to
producing more efficient batteries with quick charging technology, as well as having other
technological advancements. In addition to this, Tesla’s cars have the latest software
included, which now allows some of their cars to travel many hundreds of miles on the road
without needing human interaction.
As of 2020, Tesla now only produce cars with the following battery size options 75 and
100Kw, which contributes to the many factors that make up this premium vehicle that
consumers want. Tesla when producing these cars, create dramatic transformations within
their business and also with their relationship with their consumers.
Five years ago, Tesla undertook a marketing plan that consisted of their target audience.
The information given, explains how their cars are aimed towards mostly males looking for a
premium vehicle. A Tesla car, that consists of luxury interior, the ability to drive at high
speeds in a small amount of time as well as having high safety features are what consumers
expect from this brand and only expect it to become better in future models created.
Customers now have higher expectations of new Tesla models released wanting more out of
a vehicle, such as the desire to have a faster 0-60mph speed as well as wanting a longer
road run time after charging the vehicle. Overall, Tesla’s customers taste has stayed the
same in relation to the appearance, having a sleek sporty look, but want constant
improvement and updates in relation to the mechanical side.
The buyer profile shows the percentages of those who typically buy a Tesla product:
The advantages and risks of innovation
Innovation allows a businesses products or services to be of a better suited quality for their
consumers. Innovating and widening the product portfolio or improving what is already
available, gives the business the opportunity for more sales and the ability to also increase
the sales price.
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