Tesla Brand Extension Company Analysis Strengths and Weaknesses Project
Tesla Brand Extension Company Analysis Strengths and Weaknesses Project
For this project, it’s best to avoid using an entire company (e.g., Coca-Cola). You might select one brand such as Sprite. Please identify your geographic market; the brand management will likely make minor or major adjustments to the branding and marketing programs. You might select one country or a region within a country. You may also select a specific segment, depending on your chosen brand. (Attention!!!) We choose the brand of Tesla for development and research, We want to develop new product lines under this brand. The Electric scooter (Must conform to the tesla’s brand positioning, such as High-end, luxury, clean energy….)
12 pages!!! APA
- Company analysis
- Major strengths/weaknesses of the company – core competencies (what they do better than most companies), value proposition (what they offer to the market), assets (physical, financial, brand equity, people, partnerships, distribution channels, online resources, other), functional areas (marketing/brand equity, operational effectiveness/efficiencies, HR policies/people/systems, purchasing/supply chain, other).
- Based on your company analysis of strengths and weaknesses, which product categories might they consider entering? Example: Starbucks is known for high quality and strong coffee – the company knows coffee but they did not have the assets/ competencies (manufacturing, large retailers) to bottle coffee beverages (Frappuccino). They partnered with Pepsico to provide these capabilities, which allowed them to extend the brand into a new category and reach a new product-market.
- Industry and market analysis
- Competitive brands – analyze direct competitors and less direct competitors. Consider the level of brand analysis. Example – Nivea Men – analyze strengths and weaknesses of major brands with similar product lines (men’s skin, hair, and personal care products).
- Include the following in your analysis – brands that compete directly with your chosen brand (see branded house, house of brands, sub-brands, endorsed brands); the strengths and weaknesses of major competitors in your chosen market (e.g., US).
- Identify likely future competitive threats – Example: The soft drink brands are experiencing declines due to the larger ‘beverage’ product class – water, nutrient-infused beverages (e.g., Sobe), ice-coffee, etc. Soft drinks are also seeing threats from new ‘product types’ such as zero calorie soft drinks with Stevia, all natural sodas, etc.
- Market analysis –
- consider the product-market scope for your brand. If you are working with a ‘family brand’ (e.g., Nivea), that will include many personal care products such as women’s/men’s hair, skin, nails, cleansers, etc. If you are working at a sub-brand or descriptor level (e.g., Nivea Men, Gap Baby) your market focus is narrow.
- Who are they (families, singles, working professionals, old/young, affluent, middle class, other)? What do they want (benefits/needs – social, emotional, functional, financial, experiential)? Where do they use the product (home, out of home, other)? When (situations, seasonal, social context, other)? How often? Where and how do they prefer to buy the product?
- How large is the market (i.e., dollars, units, number of people, etc.)? What is the rate of growth and the opportunity for your brand to capture a strong competitive space with at least one defined segment?
- Brand Extension decision – Based on your competitive and market analysis, what opportunities do you see for current brand? Is there growth in the larger product class? Example: Colgate markets toothpaste, toothbrushes, and whitening products; what other ‘oral care’ products might they consider?Identify 2 or 3 options and evaluate each alternative based on decision criteria (i.e., use of current distribution channels, launch within 6 months, etc.). Select one brand extension type from this site: http://www.brandextension.org/types.html
- Include your target market description for the extension – this decision should be based on your prior analysis of product-market opportunities, competitive analysis, and company analysis.
- Competitive brands – analyze direct competitors and less direct competitors. Consider the level of brand analysis. Example – Nivea Men – analyze strengths and weaknesses of major brands with similar product lines (men’s skin, hair, and personal care products).
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