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Explain how Tesla’s referral program incentivizes owners to get others (i.e. friends and family) to buy...

Explain how Tesla’s referral program incentivizes owners to get others (i.e. friends and family) to buy Tesla products as well. What is 1 way Tesla could improve this program to make it more effective?

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Expert Solution

Tesla referral program incentivises owners to get others to buy Tesla product as the referral program is aimed at standardizing the process of referral by the existing client in order to make the brand of Tesla popular with other clients and help existing client to attract the potential new customers through word of Mouth and other favourable marketing.

These referral programs can be helpful to the existing client in order to help them in making a higher rate of return and cash discount from Tesla and this will also help them to earn through store credit and gift card.

Tesla can improve this program by offering the clients more discount to the the extent of double digits in order to attract potential new client through referral program and it will still helpful in order to maximize the profits of Tesla.

jeff jeffy answered 1 year ago
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