Abstract
The automotive industry is changing rapidly. Are these changes what the car customer prefers? This paper gives insights into attitudes towards new automotive brands, the brand image of big tech companies, perceptions regarding the cooperation between car manufacturers and tech companies, purchasing drivers of new brands, and willingness to pay for big tech brands in automotive. In-depth interviews with young professionals in the Czech Republic and Slovakia were conducted with the use of an interview guide.
Highlights
The automotive industry is one of the most important industries in both Czech Republic and Slovakia
Taking into account the particular importance the automotive industry has in the economy of the Czech Republic and Slovakia, this paper focuses on exploring the attitudes towards new automotive brands, the brand image of big tech companies, the perceptions regarding the cooperation between car manufacturers and tech companies, the factors that drive purchasing of new brands, and the willingness to pay for vehicles of big tech brands
Five main themes were identified: Attitudes towards new automotive brands, Brand image of big tech companies and the spillover effect, Perceptions regarding the cooperation between car manufacturers and tech companies, Purchasing drivers of new brands and Willingness to pay for big tech brands in automotive
Summary
The automotive industry is one of the most important industries in both Czech Republic and Slovakia. It is evident that the automotive industry goes through a period of transformation due to new technologies and rapid innovation. Research has shown that technological innovation has a significant positive impact on the performance of companies (Atalay, Anafarta, and Sarvan, 2013) and the findings of Talay, Calantone, and Voorhees (2013) have demonstrated that innovation is crucial for the survival of brands in the automotive industry. New players in the automotive market introduce disruptive technologies, business models, tactics, and strategies, aiming to alter the vertically integrated value chain into an ecosystem that is horizontal (Beiker et al, 2016)
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