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Complete 14 page APA formatted essay: Develop a country/market Analysis document for a product of your choice to sell in an emerging economywhere the company is not present.One of most successful prod
Complete 14 page APA formatted essay: Develop a country/market Analysis document for a product of your choice to sell in an emerging economywhere the company is not present.
One of most successful products in Tim Horton’s product assortment is ‘Timbits’. This ‘bite-sized donut hole’ is available in 35 different varieties and has become a household name in Canada. 95 percent of the population in Tim Hortons priority markets is aware of the company and 79 percent of this population finds Tim Hortons convenient. Tim Hortons coffee, hot chocolate, English Toffee and French Vanilla cappuccinos are also available in take-away packs (Tim Hortons, 2014).
Majority of the Tim Hortons’ restaurants offer 24-hour drive-thru service. In addition to stand alone restaurants, Tim Hortons is also present in various other prominent locations like shopping malls, universities and highway outlets. Along with Wendys, Tim Hortons is also present in some combo unit locations.
The restaurant industry can be broadly divided into two categories. full service restaurants and quick service restaurants (QSR). Tim Hortons operates in the highly competitive QSR category. Tim Hortons enjoys unparalleled market leadership, consumer reach and loyalty in Canada. The restaurant chain commands 42 percent of the QSR traffic which is more than the combined traffic of next 15 chains operating in the country (Tim Hortons, 2014).
The Canadian coffee chain faces stiff competition from global behemoths like McDonald’s, Starbucks, Subway and Second Cup. In addition to the big players, there are numerous local and regional players competing to grab a larger chunk of the ‘away-from-home’ Canadian coffee market. Some of Tim Horton’s rivals have added couches and fireplaces in the stores with the objective of encouraging customers to stay longer at the outlets. Tim Horton’s however has lagged behind in this aspect.
The recessionary conditions that have persisted in the North American economy for the last few years have made a huge dent in the consumer confidence. The high levels of
