Question

What's Tesla's Ansoff Matrix for growth strategies?

Answer 1

Tesla Motors Inc was established by a set of engineers in in 2003. Tesla Motors is an American electric vehicle and clean energy company based in Palo Alto, California , manufactures all kind of electric vehicles, storage products and also reduces scalable energy. Tesla focuses on zero emission products than relying on fossil fuels.
Ansoff matrix is referred as a planning tool which suggests the organisation to adopt growth strategies in combination of markets and products. Ansoff Matrix helps the organisations with its market and also helps in product expansion and to diversify their business if there are suitable conditions.

Market Penetration
market penetration strategy suggested by Ansoff Matrix promotes the company to increase the sale of current product in the current market. This strategy allows the company to increase its market share. according to market penetration strategy a company can penetrate in the market by adopting promotional strategies, marketing techniques and personal selling. The company tries hard to attain competitive advantage in order to increase it's market share.

Product Development
product development strategy gives attention to company's new products launch for the existing market it is serving to . The new launch of the product may be either developing a different product or developing different version of same product.
Tesla motors applies product development strategy by using advance technology products which are less harmful to environment.
Tesla Motors should invest more in the R&D to bring new objects in the market.

Market development
Market development strategy by Ansoff Matrix is suitable for companies who prefer expanding in new markets with current products. This is also called as market expansion strategy. The company may expand either geographically or demographically.
Tesla Motors adopted this strategy and expanded its market in China and India. In product development strategy Tesla used marketing and advertisement campaign which stresses on educating about products and positioning the product with high market value. Tesla is also focusing to expand their market over other international market with eco friendly products.

Diversification
Diversification strategy suggested by Ansoff Matrix promotes the company to introduce new product in new market.
As a diversification strategy Tesla was introduced its battery products for non automatic products.
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