Using the industry life cycle model, elaborate on the stage of the life cycle that the car industry was in prior to Tesla’s entry
Please review the attached article about Tesla and answer the following questions: (2000 words are required)
1. Using the industry life cycle model, elaborate on the stage of the life cycle that the car industry was in prior to Tesla’s entry. How was Tesla able to enter this industry? What competitive advantages has it created along the way?
2. What does Tesla need to do to “cross the chasm” and become a mainstream player in the car industry? What are likely to be the key sources of resistance (consumer/supplier/distribution/etc) that it will encounter, and how can it overcome them?
3. Specify three key strategies that Tesla needs to implement to stay ahead of the competition and ensure its viability in the long run.
………………………….Answer preview……………………
The car manufacturing industry has faced a number of challenges and success over time. It is apparent that the cost of the vehicles were much high at the beginning following the initial cost of production. However, creativity and innovation has played a great role in the development and growth of the car making industry……………………
APA
2236 words
Get instant access to the full solution from yourhomeworksolutions by clicking the purchase button below
