Tesla intends to roll out a new model of a solar power driven car dubbed ‘Eco-247’ for the mass market. Given the increasing concerns about climate change, the company thinks that an environmentally friendly means of transport can provide an alternative to the gasoline driven cars ( Wilberforce et al., 2017). Tesla hopes to accelerate the world’s transition to sustainable energy with mass market electric cars. However, any serious business recognizes the importance of conducting a market research prior to developing a particular product. In order to gather enough information to guide the innovative project, Tesla intends to follow a two-phased approach that features both qualitative and quantitative research methods. The qualitative element of the research will help the company to gather the views of potential customers about the new product. The quantitative aspect of the research, on the other hand, will focus on assessing the prevalence of these views in a large population.
There are several methods that the company can use for the qualitative research. However, the company will utilize a focus group to gather qualitative data (Malhotra & Malhotra, 2012). The group will include a limited number of people drawn from the target market. A focus group is suitable because it helps in explaining such complex processes as market research on new products. Data collected from the focus groups will then be subjected to quantitative research involving a representative sample from a large population. The quantitative research will carried out through an online survey involving a sample population drawn from across the world. The views shared by the focus group will be evaluated using the online survey to determine whether the product will succeed in the market or not. For instance, if the response from the focus group indicates that the new car model will succeed in the market, the quantitative research will seek to determine whether the larger population feels the same too.
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References
Malhotra, N. K., & Malhotra, N. K. (2012). Basic marketing research: Integration of social media . Boston: Pearson.
Wilberforce, T., El-Hassan, Z., Khatib, F. N., Al Makky, A., Baroutaji, A., Carton, J. G., & Olabi, A. G. (2017). Developments of electric cars and fuel cell hydrogen electric cars. International Journal of Hydrogen Energy , 42 (40), 25695-25734.
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