A business can use a strategic group analysis map to understand its position in the market by identifying its competitors and categorizing them based on key strategic dimensions such as price point, product quality, target market, etc. This allows the business to see where it stands in relation to its competitors and identify potential opportunities or threats. It can also help the business to identify gaps in the market that it could potentially exploit.
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For example, think about the competition in the auto industry. There are so many automotive companies, from legacy giants like Toyota and VW with great assembly lines and scale to new EV upstarts popping up every day that want to compete and become the next Tesla. With a market cap of over $700B, can you blame them? But with so much competition, how do any of these startups offer something unique that other legacy brands don't can't? A strategy group analysis can help.