Competitive pricing analysis in the auto industry can be applied by first identifying the key competitors in the market. This includes both traditional automotive companies and new electric vehicle startups. The prices of their vehicles, features offered, and their market share can be analyzed. This information can be used to determine a competitive price point for a company's own vehicles. It can also help in identifying gaps in the market where a company can offer unique value to gain a competitive edge.
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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.