What is a market space and what kind of market space is Tesla considered to be in?
In: Economics
It is a segment of a larger market.
Let’s take the US for example:
1. You have the US market. This includes all market activity (buying and selling) in the US.
2. Then you have the US consumer market. This is all the things people buy for their personal use.
3. Next lower is the consumer automobile market. The cars people buy for themselves.
4. Then you have new consumer automobiles
5. Premium consumer cars.
6. Sports/Luxury automobiles – This is the market space I would say Tesla is in. They are a premium automaker, with electric cars and high-tech as driving ideas behind their brand identity.
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