Elon Musk's embrace of advertising at Tesla grabs marketers' attention
The Hindu
Elon Musk outlined plans for Tesla to use traditional advertising for the first time.
With Elon Musk outlining plans for Tesla Inc. to use traditional advertising for the first time, viewers might see the electric-vehicle maker's Model Y crossover or upcoming Cybertruck pickup - maybe even the billionaire CEO himself - on TV or online.
Musk revealed those plans on Tuesday at the company's annual meeting, an about-face for the celebrity executive who recently acquired social media platform Twitter. He has for years eschewed advertising in favor of seeking to capitalise on his star power and customer enthusiasm for Tesla's vehicles.
"We'll try out a little advertising and see how it goes," he told investors in Austin, Texas.
Tesla shares closed 4.4% higher on Wednesday.
Musk said Tesla is not immune to macroeconomic pressures he foresees over the next year. The EV maker's tweaking of prices in its major markets is a symptom of a company that no longer can take ever-higher levels of demand for granted in the face of growing competition.
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Whatever advertising path Musk chooses, ad agency executives and investors expect a unique and irreverent take that will clearly communicate Tesla's advantages, including its technology.
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