strategic decisions to ultimately influence the mind of the audience as to how they see the
brand. Brand management is done through two main components which are tangible and
intangible elements. Tangibles are elements that directly influence consumers, this is where
brand identity is built through logo, symbol, graphics, colours and sounds which enables to
create brand image to consumers, giving a brand identity to brands. On the other hand
intangibles are elements that indirectly influence consumers, meaning making static decisions
but they don’t have direct influence, this consists of brand awareness, brand recall, brand
loyalty, reputation and customer retention. All tangible and intangible elements contribute to a
company's success, but it all depends on how the company communicates its brand image to
customers. Clarity of image is critical to a business since it enables the brand manager to have a
clear visualisation of how the brand should be perceived in the minds of the audience because
the brand manager can only make strategic decisions with a clear picture. So, in order to
influence consumers, the business must have a crystal clear understanding and vision of how
they want to envision their brand to the general public.
The product life cycle is the amount of time a product spends in the introduction stage of its life
until it reaches a point of decline; however, large businesses such as Tesla are likely to always
remain in the maturity stage and may never go into decline of the product life cycle and as a
business as a whole due to a built of loyal customers and the leading market of electric vehicle
(EV) industry, large consumer base, and huge popularity over social media being the most
popular car manufacturer in social media, platforms mainly Twitter. Tesla is in the maturity
stage because. While Tesla was in the growth stage, they witnessed a phenomenal and
tremendous increase in profit and sales volume, resulting in exponential development and
rapid growth in their business and product. At the time, Tesla's primary goal was to increase
customer loyalty to the brand itself.
Challenging a brand
Challenges Application
Staying relevant, maintaining relevance is critical to Tesla is a PLC company in which they provide
building a successful brand, however this challenge their goods and services internationally. In 2016
comes with no ease. Communicating to external Tesla started to see an increased growth of their
stakeholders, especially consumers where they are business and in 2018 they witnessed a rapid
fully engaged and invested with the business and its growth of their business, increased profit and
goods and services. To be effective in staying gained exponential sales volume due to meeting
relevant to consumers is by keeping in touch with consumer needs and wants. From that time
the needs of consumers, keeping consumers keep in period Tesla has still stayed relevant in their
track with their newest goods and services, building marketplace (EV) and to their consumers. This is
