Tim Horton’s Environmental Scan/External Marketing Environment:
Demographic Forces: * Products appeal to diverse generations * Baby boomers, Gen Xers and Gen Yers can all find something at Tim Horton’s to delight and satisfy their wants and desires * Many locations concentrated in big city dwellings * Of the 6 major urban areas in Canada – Toronto, Montreal, Vancouver, Ottawa, Gatineau, Calgary and Edmonton every single one of these demographics has an appropriate saturation of stores to meet supply and demand. In the last few years many suburban areas have developed at rapid paces which has led Tim Horton to strategically place more locations in these areas where once there may have been only one store, now
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Dual income families have less and less time to bring their plans together so companies like Tim Horton’s have recognized this by offering flexible shifts for their employees which, by word of mouth, among the other socio-cultural amenities Tim’s offers, makes this a great place to work and a great place to buy from
Economic Forces: * Affordable when discretionary income may be forced to tighten * Products remain relatively steady in pricing at an affordable cost even in leaner times when inflation rates and other benchmark indicators force people to slow down their spending * Product pricing in line with consumer purchasing power * Even keel of supply and demand keeps the company moving forward, largely due to fair, competitive pricing that negates negative economic factors
Technological Forces: * Increased media presence * Tim Horton’s television and radio commercials keep them ahead of the game by increasing their advertising budget for TV and radio spots to gain market share * Various methods of payment * THE TIM CARD - A fast and easy way to purchase “on-the-go” * THE DEBIT CARD - A fast and easy way to purchase “on-the-go” * MASTERCARD PAY PASS - A fast and easy way to purchase
Tim Hortons is much more involved in making a true difference for individuals, communities and the around the globe daily than just serving a coffee.
Although the company did show an increased gross profit of $8,255,000 with $6,358,000 less Net Sales in 2013 versus 2012, that increase is due to the reduction in product Cost of Goods Sold by $14,613,000. Since increases in product price will negatively affect sales, one of management’s primary goals is to keep prices stable. This objective is achieved through implementation of cost cutting programs, investing in more efficient equipment, and automation of more steps in the production process.
1. Explain how the environment is prepared, maintained and cleaned to ensure it is ready for the healthcare activity
External and internal environmental analysis is a critical component for an organization seeking to achieve its goals. The follow information within this paper presents a complete external environmental and an internal competitive environmental scan for JetBlue Airways. The information provided identifies and analyzes the most important external environmental factor in the remote, industry, and external operating environments. When addressing external environment it speaks to a set of forces and conditions outside the organization that can influence its performance. The most common forces include political, economic, social,
Tim Hortons is currently recognized as the largest fast food restaurant chain in Canada. It provides a variety of products that are appealing to a broad range of costumer choices and the prices are relatively attractive for most of the consumer range. They prices are priced low and that’s why they are often favored by people. The company’s product line consists of premium coffee, espresso-based hot and cold specialty drinks (including lattes, 3 cappuccinos and espresso shots, specialty teas, fruit smoothies), home-style soups, fresh sandwiches, wraps, hot breakfast sandwiches and fresh baked goods.
The marketing approach taken by Hudson Bay is that of segment marketing. In a culturally diverse country such as Canada, the only way to satisfy consumer needs as well as maximize profit; would be to appeal to a variety of different groups. Whether it be to different sexual orientations, cultural differences or just personal needs and interest. Hudson Bay demonstrates this by carrying an array of products ranging from formal wear, skin care products, cosmetics, celebrity clothing lines, designer labels and accessories just to name a few varieties. Their target market is mainly young adolescences, men, women and women with children. With the different array of product lines that Hudson Bay carry’s, it almost makes them the ultimate one stop
Environmental scanning can be viewed as a way of acquiring information about outside events that can aid organizations in first identifying potential trends, then interpreting them
Furthermore the high income inequality is not the only issue Canadian families are facing, with enormous cutbacks from the government, Canadians are facing a lot more precarious times. The government has been reducing the economic security and access to public and social services has also been undermined many of the statutory benefits people use to enjoy in the past. Part of this problem with has to do with the employers and media idea of “flexibility”. Employers and the media often claim that the "flexibility" provided by precarious employment offers workers improved work-family balance and other lifestyle benefits. The reality, however, is that 1/3 of adult women who work part-time said they would prefer to work full-time, and this proportion
economy continues to improve (Neal E. Boudette, Jan. 2014). So far, pricing in the U.S. market has been trending upward, not falling. The “discipline” of major competitors has thus far helped in matching production to demand.
An industry analysis through Porter’s Five Forces reveals that market forces are favorable for profitability.
However we feel that this strategy also has several weaknesses. Compared to the first option presented by the VP of Advertising, we would still need to advertise that our product is coming down in price. If we don’t advertise, the consumer is still going to be drawn to our competitors because they will remain unaware of the new parity in pricing. Also, if we
Environmental problems are something which belongs to nature or known as “Mother Earth” [13]. Nature was created to help people survive from gathering foods until build a house. This phenomenon happens continuously without thinking how much damage that nature has because human’s fault. Nature gradually becomes worse and animal’s life in danger. People who are aware of the importance of nature react. Those people do several ways to save the environment. Although these efforts can return back the environment, these efforts only can be hold temporarily. This problem happens because those people who are aware of the environment only slightly; for remaining, there are people either do not know or do not care about the nature. People’s efforts
To assure the success of a business over a long period of time the business must be able to conduct regular analysis of their success. They must be able to determine where they are today and have a goal of where they would like to see themselves 5-10 years down the road. In order to conduct a true analysis of the company, one must complete an environmental scan of their organization. Thus scanning for events, trends, issues and expectations that they may be faced with in the future. Furthermore, examining all internal and external environment challenges. Internal environmental challenges may be with employees, shareholders or board of directors or the overall culture of the organization. External environmental
A product can be a product or a service. If your product provides sufficient value to customers, they will buy - no matter how good or bad the economic situation is, if they perceive value they will pay the price (Wood, 2010).
Earth is the only place in the universe that can support human life. It is very important that we realize this fact and take very good care of it. Various human activities cause the destruction of earth. Human beings can live a few days without food and water however humans can last only a few seconds without oxygen. Various human activities lead to the aggravation of the quality of air. Gases produced by human activities mainly due to exploitation of resources and industrialization cause air pollution. Green house gases mainly chlorofluorocarbons; carbon