zero-emission sports car, all-electric, 7 seats, 45 minutes charging time, 195 kmh, from 0 to 96 kmh in 5.6 seconds, $50,000 US
Advantage: Fashion, environment-friendly, high-performance, big cargo place
Disadvantage: Low payback for the customer because of low price of gasoline and high price of the car
Personal Model S
Gender: Male Age: 35-50 Education: Bachelor or above Family Income: 80,000 Euro/Year
The Model S is designed for young families. However, probably male customers will buy it more than woman based on its performance: it is able to go from 0 till 66 miles in 5.6 seconds. The target group can be fathers, aging from 35 to 50 years old, who have at least two children.
The most distinctive feature of Model S is that it’s a green car. And purchase is quite expensive because the unique dynamic system, but the usage is much cheaper. Probably only high educated, forward thinking people will buy this car.
The price of the car with one battery pack is $49,900 (€33,763.5). Considering about the price of the car, only family with great income will buy the car.
People in this age range must have some brand loyalty. They trust in brand which presents an image of high quality, great performance and lasting usage. While Tesla is one brand which only develop and produce electric cars, and it is an advantage for building the trust to Target group: an expert in electric car.
For consumer pattern, target group spend more money on education, clothe and travel rather than food. The target users like family activity thus they need a lot of seats as well as cargo space in the car. And there might be some pets in the family to accompany the children.
Green life, family-oriented, healthy life, family time
Lifestyle: The target group must value family activity and excursion; otherwise this car with 7 seats will be useless. They are not workaholic, and prefer to spend time with family rather than the career. Besides, the target group has a desire for healthy life. They have a consciousness of protecting the environment and getting close to nature.
Interests: The target group must have interest in fashion, and the appearance of Model S won’t be wasted. And they might also have some interests in film/theater, because this can be activity for one family. As common people, they might have interests in sports and magazines.
Value: Personal values guide users’ behavior. And for the target group of Model S, we think they value responsibility, love, peaceful world, ambition and happiness.
How to reach target group
The advertisement can be put in TV, in male magazines and on radios as other ads. To be special, they can be put in the start of some family movie to attract attention of whole family. Besides, in some events of environmentalists the company can also pay to be sponsor, and put the ads to get attention of environmentalists.
– Product form competition
On this level, competitive products are those which “look” similar to Tesla Model S and have most common features with it.
It could be: family electric car, Family car with other green energy resources (100%)
Nissan Leaf Hatchback – electric family car, five seats, price around $32, 780
Picture from: www.carsbloggoogle.blogspot.com
Chevrolet Volt – electric family car, five seats, price around $32, 780
Picture from: www.inhabitat.com
Picture fro: http://www.citroen.com/
– Product category completion
On this level, competitive products are those which have similar feature to Tesla Model S and fulfill the needs of the same target group of it.
It could be: Family car, environment-friendly vehicles
– Generic competition
On this level, competitive products are those which could fulfill the needs of the same target consumer group of Model S.
It could be: sports car, SUV, motorbike, other transportation tools like train and plane
– Budget competition
On this level, the definition of competition is much wider than the first three levels. Competition is based on the budget of target consumer group.
It could be: green energy electronics, sports center, golf clubs, organic food brands, educaion, financial investment, fashion brands and so on.
Future Competitors Analysis
Because electric car is a pretty new category in the automotive market, the biggest competition comes from Generic competition level. After five or ten years, when electric car has been widely accepted by the customers and step into the growth stage of life cycle, the main competition would move to the product form and category level.
That means when we design an advertisement for Tesla model S, we should first attract people into electric car category, then we persude them to buy our car. It is not wise to set other electric car brands as our main competitors for now, but those gasoline-fueled family cars with popular brands.