Please read the case study below to answer the following questions:

Tesla, Inc., formerly known as Tesla Motors, was established in 2003 by a group of entrepreneurs, including Elon Musk, with the objective of revolutionising the automotive industry. From its inception, Tesla's vision has been to accelerate the world's transition to sustainable energy by offering innovative electric vehicles (EVs) and renewable energy solutions.

One of Tesla's early breakthroughs was the introduction of the Tesla Roadster in 2008, the first fully electric sports car. The Roadster showcased the company's commitment to developing highperformance electric vehicles. Although the Roadster had a limited production run, it served as a significant milestone in proving the feasibility and potential of EVs.

Building upon the success of the Roadster, Tesla introduced its first mass-market electric vehicle, the Model S, in 2012. The Model S was acclaimed for its luxurious design, long-range capabilities, and advanced technology features. It quickly gained attention and positive reviews, positioning Tesla as a serious contender in the automotive industry. In subsequent years, Tesla expanded its vehicle lineup with the introduction of the Model X, an all-electric SUV The Model 3, introduced in 2017, was a gamechanger for Tesla, as it aimed to make electric mobility accessible to a larger audience by offering a more affordable price point.

Tesla's vehicles have garnered a reputation for their high-performance electric drivetrains, cutting-edge autonomous driving capabilities, and over-the-air software updates, which continuously enhance the vehicle's features and performance. Beyond vehicles, Tesla expanded its portfolio to include energy solutions. The company introduced solar energy products, such as solar panels and solar roof tiles. These offerings aim to enable consumers and businesses to harness clean energy and reduce their reliance on traditional power sources.

Tesla's success and market impact have been significant. It has challenged the traditional automotive industry, compelling established automakers to invest more heavily in electric vehicles. The company's brand image is closely associated with innovation, sustainability, and futuristic design. Tesla's CEO, Elon Musk, has played a pivotal role in the company's growth and popularity, often garnering media attention for his bold vision and ambitious plans to transform transportation and energy sectors.

Tesla's accomplishments extend beyond its product offerings. The company has established gigafactorieslarge-scale manufacturing facilitiesin various locations worldwide to streamline production and meet the increasing demand for its vehicles. Tesla has also made significant advancements in battery technology, seeking to improve energy storage capabilities and reduce costs

QUESTION FIVE [20 MARKS]

5.1. Identify and explain the TWO (2) main types of marketing research. (6 MARKS)

5.2. Provide two reasons why market research is important in the electric vehicle industry (6 MARKS)

5.3. Based on the above, discuss TWO (2) specific examples of how Tesla could utilize marketing research to gain insights into customer preferences, market trends, and competitive landscapes (8 MARKS)