Tesla non price competition. Select one industry you are interested in (Tesla)and demonstrate how the existence of non-price competition influences the performance of individual firms operating within the industry. what is the structure of the industry?(oligophy, monopoly, etc.) what are the types of non-price competition that the individual firm and industry have used, both historically and today, and how these methods have influenced product sales of the respective firms.
Answer: In Automative industry, Tesla has set itslef unique selling proposition of Electric Cars and has indulged in non proce competition by positioning itself as most Innovative car rather than focussing on prices. Here industry has been perfectly competitive with multiple players having almost equal market share and the Innovation driven by Tesla motors has caused sharp drop in sales for kther individual firms.
Largely as consumers demand" efficiency " against prices and firms look to compete on innovative models to appeal changing customers preferences.
Historically Tesla has been pioneer in bringing Efficient and Imporvised cars and is kniwn for its first mover advantages which consumers look to tap and get best deal since it is proced efficiently without much focus on pricing.
It has been crowd puller for fact that Elon Musk the brainchild behind Tesla has been pushing envelope of innovation ahead and bringing futuristic technologies available readily and has subsequently won customer trust based on past models and their durability and reliability.
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