Since the creation of the first gas-powered car from Karl Benz in 1885 the technology has brought an enormous utility and prosperity for the entire humanity, but it also had a great impact on climate change. One company tried to challenge the status quo and create a new technology that would help the environment. That company is Tesla.
How did Tesla manage to build a legendary brand from scratch and why is its brand identity so successful? Ivelin Dobrev analyzes how a new business venture can create a brand that would be able to sustain, fight and in often cases win against established competition. In addition, he inspects what are the key fragments of a legendary brand in the framework created by Vincent Laurence and how it is linked to our underlying human psychology.
In this book:
- Electric vehicles;
- Teslanomics;
- Brand experience;
- Legendary brand;
- Climate change
Table of Contents
- 1 Introduction
- 2 The rocky road of Electric Vehicles
- 3 History of Tesla - A journey against all odds
- 4 How Tesla managed to build a legendary brand from scratch?
- 5 The economics of Tesla - Teslanomics
- 6 The uncommon brand identity of Tesla
- 6.1 Twitter
- 6.2 Instagram
- 6.3 Facebook
- 6.4 Youtube
- 7 The Tesla Car – a product that transforms into a brand experience
- 7.1 Product
- 7.2 Place
- 7.3 Price
- 7.4 Promotion
- 8 Tesla SWOT Analysis and key takeaways
- 8.1 Strength
- 8.2 Weaknesses
- 8.3 Opportunities
- 8.4 Threats
- 9 Tesla potential brand extension project
- 10 Conclusion
Objectives and Key Themes
This work aims to analyze Tesla's current state and brand potential, exploring how it established itself as a leading brand in the electric vehicle market despite numerous challenges. The analysis delves into the history, economics, and brand identity of Tesla, examining its unique approach to social media and marketing.
- The development and evolution of electric vehicles
- Tesla's brand building strategy and its impact on the industry
- The economic factors contributing to Tesla's success
- Tesla's unique brand identity and its use of social media
- The potential for Tesla to expand its brand into new markets and product categories
Chapter Summaries
The first chapter introduces the context of the electric vehicle market, outlining its development and challenges. Chapter 2 delves into the history of Tesla, highlighting its journey and key milestones. Chapter 3 analyzes how Tesla built its brand from scratch, exploring its branding strategies and approaches. Chapter 4 examines the economic factors driving Tesla's success, including its financial performance and strategic decisions. Chapter 5 investigates Tesla's unique brand identity and its unconventional use of social media platforms. Chapter 6 focuses on how Tesla transforms its car into a brand experience through its product, place, price, and promotion strategies. Chapter 7 explores Tesla's strengths, weaknesses, opportunities, and threats through a SWOT analysis. Chapter 8 explores potential brand extension projects for Tesla, examining future opportunities and market expansion.
Keywords
Key terms and concepts explored in this work include electric vehicles, brand building, brand identity, social media marketing, Tesla, Elon Musk, Teslanomics, SWOT analysis, brand extension, and future trends in the automotive industry.
Frequently Asked Questions
How did Tesla build its brand identity?
Tesla built a "legendary brand" by challenging the status quo, focusing on innovation, and using unconventional social media marketing instead of traditional advertising.
What is "Teslanomics"?
Teslanomics refers to the unique economic model and financial strategies that have allowed Tesla to succeed in the competitive automotive market.
What role does Elon Musk play in Tesla's brand?
Elon Musk's personal brand and active presence on platforms like Twitter are central to Tesla's promotion and brand experience.
What are the key elements of a Tesla SWOT analysis?
Strengths include technology leadership; weaknesses include production hurdles; opportunities lie in global expansion; and threats include increasing competition from traditional carmakers.
How does Tesla address climate change?
Tesla aims to accelerate the world's transition to sustainable energy through the mass adoption of electric vehicles and renewable energy solutions.
- Quote paper
- Ivelin Dobrev (Author), 2021, Tesla’s current state and brand potential. How to derive a brand meaning and create a future that inspires, Munich, GRIN Verlag, https://www.grin.com/document/591346
