bam101 tesla

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School

Seneca College *

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101

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Economics

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Jun 1, 2024

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docx

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Uploaded by SargentRhinocerosMaster403

Q1 A- in a numbered list, name and describe four stakeholders of Tesla in Germany. B- What is Tesla doing, or what should Tesla be doing, for each? Provide support from the case for your answer. A 1. Customers: Tesla's electric vehicles, renewable energy solutions, and self-driving technologies have piqued the curiosity of German customers. They are significant since they are the ones who purchase its vehicles and use its services. Tesla has been establishing charging stations and service facilities around Germany in order to expand its company there. In addition, the corporation has been offering discounts and other incentives to clients in order to entice them to purchase electric vehicles. For example, Tesla just revealed a new trade-in program in which customers may turn in their old gas-powered automobiles for a new Tesla model. Furthermore, the company has begun to give incentives to customers who purchase more than one Tesla vehicle. In addition, Tesla has started giving free access to its Supercharger network to customers who buy one of its vehicles. These advertisements have helped Tesla gain more customers in Germany, where people are increasingly turning to electric vehicles. 2. Government: The German government has set laws and regulations to encourage the development of electric car technology, such as offering incentives for corporations to engage in research and development and subsidies for customers who buy electric vehicles. Tesla should collaborate with the German government to understand and take use of the incentives that are available to them. This might involve taking advantage of electric car subsidies as well as research and development incentives. Furthermore, Tesla should keep aware of any legislation and policies related to electric vehicles in order to maintain compliance. 3. Suppliers: Suppliers are particularly important for Tesla in Germany since they provide the firm with the parts and materials it requires to manufacture its vehicles. Tesla has been working closely with local suppliers to ensure that it can receive the parts it requires fast and at a reasonable price. In addition, the firm has been building long-term partnerships with its suppliers to ensure a consistent supply of components and supplies. Tesla has also invested in its suppliers by providing them with the tools and assistance they require to enhance their operations. This has supported Tesla in ensuring that it receives the components and supplies it requires in a timely and cost-effective manner. 4. Competitors: Tesla competes with other German automakers such as Volkswagen, BMW, and Daimler. Tesla should focus on innovation and producing new goods and technology that will set them apart from the competition in order to stay ahead of the competition. This might involve creating new electric car models with features that rivals do not provide.

B In Germany, Tesla has been actively communicating with its customers, competitors, suppliers, and government in order to connect with all of its stakeholders. Customers have received discounts and other incentives from the corporation in order to purchase electric vehicles. It also focuses on innovation to keep ahead of the competition, collaborates with suppliers to ensure a consistent supply of parts, and takes use of government incentives to grow. Q2 A- In a numbered list, name and describe the four types of Market structures. B- In which type would Tesla be competing and why? Provide support from the case for your answer. A 1. Perfect Competition: This market is distinguished by a high number of small businesses competing against one another by offering similar items. 2. Monopoly: A monopoly market is one in which a single business dominates the market and determines the price of the product. 3. Monopolistic Competition: This market is characterized by a large number of firms providing different products and applying some pricing control. 4. Oligopoly: This type of market is characterized by a few firms that control a large percentage of the market and have considerable price control over their products. B Tesla would encounter oligopolistic competition in the German market. This is because an oligopoly is a market structure defined by a small number of dominant firms with significant market power and the capacity to influence price and competition. Furthermore, Tesla competes with other manufacturers in the German market, including Volkswagen, BMW, and Daimler, showing that it is in an oligopoly. Tesla has high barriers to entry in an oligopoly competition, including significant capital needs for production, research and development, and distribution networks. This makes new entrants difficult to compete, thus concentrating the market among a few existing companies. Moreover, Tesla has distinguished itself in the field of electric vehicles by innovative technology, high-performance automobiles, and a distinct brand identity. This product difference aids its capacity to compete effectively in a crowded market. Because of their large market dominance, oligopolistic enterprises have some pricing power. Tesla, like other large manufacturers, has the ability to influence pricing and establish premium prices for its goods, particularly given its brand appeal and perceived innovation.

Oligopolistic firms frequently engage in non-price competition, such as marketing, innovation, and branding. Tesla's competitive strategy is heavily influenced by its innovation, technological advances, and Elon Musk's charismatic leadership.

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