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ISBPM Assignment 5.2

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ISBPM Assignment 5.2

Uploaded by

deepu deeps
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Required Assignment 5.2: Comparative Positioning Analysis: Tesla Roadster vs.

Hyundai Ioniq

<Pradeepthi Avadhanula>

Inferences from Positioning Statements

1. Tesla Roadster: Tesla launched its first model, the Roadster, in 2008.
 Target Market: It aims to make electric sports cars accessible to a broader market. Its target
audience includes wealthy individuals, speed enthusiasts, and eco-conscious luxury buyers.
Currently, Tesla's market segmentation reflects a small share of the overall car market, primarily
consisting of affluent, highly educated professionals, as electric cars remain luxury items.

 Unique Selling Proposition (USP): Tesla Roadster USP are as follows.


I. Luxury
II. Performance and Aero Efficiency
III. Cutting Edge Technology
IV. Convertible Driving Experience
V. High Octane Performance
VI. Acceleration 0-60 mph 1.9 s
VII. Far-Reaching Range-620 mi on single charge
VIII. Top Speed +250 mph
IX. Eco-consciousness

 Brand Messaging: Tesla's brand messaging for the Roadster highlights high performance,
advanced technology, sustainability, and luxury, positioning it as a transformative product that
sets new benchmarks in the automotive and electric vehicle industries.

2. Hyundai Ioniq: In 2016, Hyundai launched the Ioniq, its first eco-friendly model.
 Target Market: Offering hybrid, plug-in hybrid, and battery electric vehicles, targeting green-
minded individuals, families, and young professionals seeking stylish, modern options.
Consumers seeking modern design and innovative, affordable electric or hybrid vehicle
solutions.

 Unique Selling Proposition (USP):


 Planet-Friendly Alternatives
 Fast charging
 Sophisticated Technology
 Modern and Stylish design
 Sleek Aesthetic
 Warranty and Reliability
 Intuitive Charging Systems
 Sustainability Commitment

 Brand Messaging: IONIQ flipped the switch as” I’m in charge”.


Redefining everyday experiences and Unlocking life-changing mobility. The Hyundai Ioniq
line-up redefines mobility with a focus on sustainability, innovation, and practicality, offering
advanced technology, comfort, and eco-friendliness for a diverse range of consumers.

Product Management Page 1


Framework Application

1. Market/Firm Newness Matrix:


 Tesla Roadster Placement: Both the Product Newness and Market Newness are high for
Tesla
a. Visual Representation:

b. Reasoning: Tesla's Roadster represents high product and market newness as an


Electric Luxury Sport Vehicle. As a pioneer, it faces opportunities in innovation and
agility, alongside challenges in funding and risk management. Extensive marketing
research established it as a benchmark for quality, comfort, innovation, luxury, and
performance in the EV segment.

 Hyundai Ioniq Placement: Product and Market newness are low.


a. Visual Representation:

Product Management Page 2


b. Reasoning: Hyundai Ioniq’s firm newness is low, benefiting from brand strength,
customer loyalty, and operational efficiency. Challenges include maintaining
innovation and meeting customer expectations. Market newness is also low due to
high competition and saturation, requiring focus on market share, operational
efficiency, and differentiation through service, alongside incremental innovation and
customer retention strategies.

2. Opportunity Cost/Development Risk Matrix:


 Tesla Roadster Placement:
a. Visual Representation:

Product Management Page 3


Risk Map

b. Reasoning:

Tesla has Low to Medium Opportunity cost and High Developmental Risk. Tesla, as the first luxury EV
sport car, faced medium opportunity costs due to limited competition. Other electric vehicles were niche
and expensive. Development risk was high, as untested technology posed potential failures. Tesla took
five years to ensure a fully developed, thoroughly tested, and reliable high-end electric car before launch.

 Hyundai Ioniq Placement:


a. Visual Representation:

Product Management Page 4


b. Reasoning: Strong customer loyalty and market presence reduce opportunity costs,
while the competitive landscape introduces some risk. Rising demand for eco-friendly
vehicles mitigates uncertainty, resulting in a medium developmental risk overall.

Comparative Analysis

 Strengths of Tesla Roadster's Strategy:


o Strengths:
1. Robust brand and forward-thinking leadership
2. Advantage in electric sports vehicles
3. At forefront of innovation
4. Attractive to environmentally conscious consumers

o Challenges:
1.Elevated costs restrict widespread adoption.
2. Challenges in increasing production capacity.
3. Open-source patents may attract competitors.

 Hyundai Ioniq's Strategy:


o Strengths:
1. Varied product range (hybrid, plug-in, electric)
2. Competitive and accessible pricing
3. Strong reputation for dependability and customer satisfaction

o Challenges:
1. Viewed as a value brand might restrict its attractiveness to premium customers.
2. Susceptible to supply chain disruptions.
3. Strong competition within the electric vehicle sector.

Product Management Page 5


 Insights into Positioning Effectiveness:
1. Tesla successfully marketed the Roadster as a high-end electric sports car featuring advanced
technology. Although it attracts an affluent, environmentally conscious audience, its steep price
restricts its appeal to a wider market.
2. Hyundai has marketed the Ioniq as a sensible and budget-friendly choice for environmentally
conscious consumers. By providing both hybrid and electric models, Hyundai attracts a wider
customer. however, it does not possess the luxury and innovative advantages that Tesla offers.

Product Management Page 6

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