External environmental analysis of Tim Horton's gourav manpreet

External environmental analysis of Tim Horton's gourav manpreet

• 3.
   Political (Legal)Aspects:-. A company will not be able to gain success, good reputation and trust if it will not consider legal and political sector as part of their strategy. Political and legal sectors include the needs of the company to follow the given policies and regulations of the government in order to be considered as legal and authorized business company.
• 4.
  We have tokeep in mind .  Tax policy  Employment laws  Political stability  Environmental regulations  Trade and tariff restrictions
• 5.
   The economic factor involves the context in which an industry belongs, i.e. the configuration of the competition in which a company operates the active demand of the products, general economic condition of the nation or region, conditions in relation with other industries, and the situation of the resource markets.
• 6.
   Economic stability Economic growth  Interest rates  Inflation rates  Exchange rates
• 7.
   Society and culture is an important factor that must be given emphasis by any business, specifically those who are operating in the global arena such as Tim Horton’s. It is important that the company must operate in compliance with the social systems in order to gain good reputation and effective public image.
• 8.
   Population growthrate  Age distribution  Career attitudes  Consumer behavior  Religion and culture itself
• 9.
   The complexities of achieving business success through increased efficiency, effectiveness and competitiveness, combined with innovative applications of modern technology, has heightened the awareness of both technology and business managers towards more strategically oriented approaches for planning and management of any industry.
• 10.
   Distribution andcommunication channels  Technology incentives  Automation  Rate of technological change  Environmental and ecological aspect  Barriers to entry
• 11.
  Strengths Weaknesses  Innovative Culture - Tim Horton’s  Long lines  Franchises Repays in 1 to 2  Weak Management at Years Specific Locations  Low Staff Turnover is an  Tarnished Reputation - Important Strength for Tim Horton’s Tim Horton’s  Ease of Training Helps Tim  Customer Service - Tim Horton’s  Strong Management at Tim Horton’s Horton’s  Prime Real Estate - Location is Key for Tim Horton’s  Pricing Power Allows Tim Horton’s to Adjust Prices  Financial Leverage is a Strength of Tim Horton’s
• 12.
  Strengths Weaknesses  Economies of Scale Help Reduce Cost for - Tim Horton’s  Cost Advantages Over Rivals - Tim Horton’s  Rapid Expansion  Supply Chain - Tim Horton’s  Brand Name - Tim Horton’s  Customer Loyalty is Key to Tim Horton’s
• 13.
  Opportunities Threats  Lower Prices of Tim Horton’s  Global Warming Could Hurt Food Can Help Win Customers Food Product and Costs  Fair Trade Benefits the Growers  Fast Food is linked to and Consumers of Coffee Hardening of the Arteries  Organic Farming Provides and  Consumers Could Change Opportunity for Tim Horton’s Their Tastes and Desires in  Young Drinking Age Could Help Food Grow By Increasing Market Size  Volatile Cost - Tim Horton’s  World's Population is increasing - Potential to Expand is Huge  International Competition Could Hurt Tim Horton’s  They Can Make Acquisitions of Other Fast Food Companies  Substitute Products Could Hurt  Emerging Markets Offer Tim Tim Horton’s Horton’s Expansion Potential  Intense Competition -  New Products and Services Restaurants Industry Could Increase Tim Horton's Revenue
• 14.
  Opportunities Threats  Marketing in Canada is Locally Tailored  Variety of Food  New Services by Tim Horton’s  New Products at Tim Horton’s
• 15.
   Competitive Rivalry, e.g.: › Number and size of firms existing in market like as Tim Horton’s › Industry size and trends of the market › Fixed v variable cost bases  Supplier Power, e.g.:  Brand reputation which product supplier supplies us  Geographical coverage of that particular supplier
• 16.
   Buyer Power, e.g.: › Buyer choice of our product › Buyers size/number in that particular area  Product and Technology Development, e.g.:  Alternatives price/quality  Market distribution changes in rules which may affect or not  Fashion and trends of the new market
• 17.
   Social Factor:- › The changing role Of Families and Women(+) › Growing component life style(+)  Economical Factors:- › Purchasing Power(+) › Recession(-)
• 18.
   Technological Factors › Research › New products
• 19.
   We believe that they need to improve their social aspects they need to introduce some products for the baby boomers because they are big consumers in Canadian market. Moreover, if they can spend more money on R&D to improve their service line and product quality, then they can reach new heights of profit. Regularly introducing new products in market and create more interest in the people.
• 20.
  Tim Horton’s brandis synonymous with Canadian culture and coffee is a product with wide demographic appeal, the target market for this campaign is broad in scope. People most likely to engage in this contest are likely male and females aged 18-50; students and professionals alike. They want to cover college, school and working people. Their products are very low in cost and have different quantity menus, which every one affords
• 21.
   MISSION STATEMENT: Our guiding mission is to deliver superior quality products and services for our + and communities through leadership, innovation and partnerships. (Horton's, 2011) OUR VISION: Our vision is to be the quality leader in everything we do.
• 22.
   Locations › Has more than 6000 stores in Canada › Covers every single public place › Going global  Cost Competitive › Low price products
• 23.
  channel, B. (n.d.).http://www.brandchannel.com. Retrieved 10 22, 2011, from http://www.brandchannel.com/features_profile.asp? pr_id=253 Horton's, T. (2011, 12). www.timhortons.com. Retrieved 10 23, 2011, from http://www.timhortons.com/ca/en/about/media- company-facts.html wiki. (n.d.). http://en.wikipedia.org/wiki/Tim_Hortons. Retrieved 10 21, 2011, from www.wikipedia.com: http://en.wikipedia.org/wiki/Tim_Hortons#Menu