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*NEW* Unit 5 International Business: D4 - Evaluate the success of the strategies and resources used by a selected international business in one of its markets *Distinction Graded*€20,88
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*NEW* Unit 5 International Business: D4 - Evaluate the success of the strategies and resources used by a selected international business in one of its markets *Distinction Graded*
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Unit 5 - International Business
Établissement
PEARSON (PEARSON)
*Distinction Graded*
Unit 5 International Business: D4 - Evaluate the success of the strategies and resources used by a selected international business in one of its markets
Tesla, the American electric vehicle (EV) and clean energy company, has achieved remarkable
success not only in the United States but also in various international markets. Among these
markets is Singapore, where Tesla has implemented a range of strategies and allocated
significant resources to establish a strong presence. This essay aims to evaluate the success of
Tesla's strategies and resources in Singapore, shedding light on the key factors that have
contributed to the company's dominance in the EV industry within the country. By analyzing
Tesla's achievements, we can gain valuable insights into how the company has thrived in this
specific market, influencing the transition towards electric mobility and solidifying its position
as a leading force in the EV industry. Notably, with EVs accounting for 11.7 percent of all
registered cars in Singapore in 2022, totaling 3,634 units, this statistic highlights the substantial
success Tesla has achieved in the Singaporean market. Through a comprehensive analysis, we
can delve deeper into the strategies and resources that have played a pivotal role in Tesla's
triumph and examine their impact on the company's position in Singapore's EV market.
Strategies:
Subsidiary Business: Tesla established a subsidiary in Singapore to have direct control and
management over operations
Tesla's trading strategy in Singapore has proven to be highly effective, enabling the company to
establish a strong presence and capitalize on the growing demand for electric vehicles. By
directly trading in the market, Tesla gains access to the local customer base, allowing for
efficient distribution and sales. This approach has enabled the company to showcase its electric
vehicles, promote their features and benefits, and generate significant interest among potential
customers. Tesla's brand visibility has increased as a result of its direct trading activities,
contributing to its success in the Singaporean market.One of the advantages of Tesla's trading
strategy is its control over the entire customer experience. By trading directly, Tesla can provide
personalized services, build customer loyalty, and ensure high levels of customer satisfaction.
From pre-sales interactions to after-sales support, Tesla can shape the customer journey,
resulting in a positive brand image and repeat business. This level of control over the customer
experience sets Tesla apart from competitors and contributes to its success in the market.
However, Tesla's trading strategy in Singapore is not without its challenges. Compliance with
local regulations, including import/export regulations, taxes, and customs duties, can be
complex and time-consuming. Navigating these requirements requires dedicated resources and
careful adherence to ensure smooth trading operations. Additionally, establishing a robust
distribution network poses logistical and investment challenges. Setting up charging
infrastructure, service centers, and showrooms across the country requires significant capital
investment and careful coordination to provide convenient access to customers.
Despite these challenges, Tesla's trading strategy has demonstrated its effectiveness in the
Singaporean market. Historical data indicates that Tesla has gained substantial traction in
, Singapore, with the Tesla Model 3 being the best-selling electric car in the country in recent
years. This success highlights Tesla's ability to capture a significant share of the electric vehicle
market and maintain a competitive edge against other manufacturers. Furthermore, Tesla's
commitment to expanding charging infrastructure and service centers reflects its long-term
vision for trading success in Singapore. In conclusion, Tesla's trading strategy in Singapore has
been highly successful, allowing the company to establish a strong presence, increase brand
visibility, and capture a substantial market share. Direct trading enables Tesla to control the
customer experience and provide personalized services, contributing to customer satisfaction
and loyalty. While challenges exist, such as regulatory compliance and distribution network
establishment, Tesla's historical performance and expansion plans indicate the effectiveness of
its trading strategy in Singapore's electric vehicle market.
Partnerships and Alliances:
Tesla formed strategic partnerships and alliances with local entities, such as energy providers and
charging infrastructure companies, to leverage local expertise and resources
Tesla's trading effectiveness in Singapore has been greatly enhanced by its strategic
partnerships and alliances with local entities. By collaborating with energy providers and
charging infrastructure companies, Tesla has been able to leverage local expertise and
resources to strengthen its position in the market.
Tesla recognizes the importance of local knowledge and resources in establishing a strong
trading presence in Singapore. Through partnerships and alliances, Tesla gains access to
valuable insights into the local market dynamics, customer preferences, and regulatory
requirements. These collaborations allow Tesla to optimize its trading strategies, product
offerings, and customer experience to better align with the specific needs of the Singaporean
market.The effectiveness of Tesla's partnerships and alliances strategy can be evaluated by
assessing the growth of its trading operations, market share, and customer satisfaction. While
specific data beyond September 2021 is not available, Tesla's strategic collaborations have
likely contributed to its trading effectiveness in Singapore. By leveraging local expertise and
resources, Tesla has been able to expand its customer base, establish a strong brand presence,
and capture a significant market share in the electric vehicle sector.
One of the advantages of Tesla's partnerships and alliances is enhanced market penetration. By
collaborating with local entities, Tesla can tap into established networks and distribution
channels, facilitating faster market entry and penetration. This allows Tesla to reach a wider
customer base and increase its trading effectiveness in Singapore. Additionally, partnerships
provide Tesla with access to local expertise, enabling the company to tailor its trading
strategies, product offerings, and marketing campaigns to better meet the specific demands of
the Singaporean market.However, there are potential disadvantages to consider. Tesla's trading
effectiveness may be influenced by the performance and capabilities of its partners. Any issues
or shortcomings on the part of these partners can directly impact Tesla's operations, customer
experience, and overall trading success. It is crucial for Tesla to carefully select and manage its
partnerships to mitigate this risk. Additionally, collaborating with local entities may require
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