What Is Tim Hortons?
After analyzing the products and positioning of competitors in the market, it seems that there is still an untapped opportunity to offer healthy food, which could be a potential point of differentiation. Although introducing new products may involve some costs initially, it can lead to profitability in the future. To attract both existing and potential customers who prefer a healthy diet, it is important to emphasize the message of offering healthy food. Additionally, providing quick service is crucial to enhance customer satisfaction. Therefore, improving service time should be a priority.
The current market for healthy food seems to be untapped, providing an opportunity for differentiation among competitors. Though adding new products may
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This could turn the stores into a meeting spot for sports fans who want to watch games while having a meal. It would enhance the stores' image as a go-to destination for sports enthusiasts to enjoy food and drinks while catching up on the game. Positional Map- Tim Hortons vs Competitors
The positional map illustrates the relative position of a business compared to its competitors, and is typically divided into four major categories. Businesses are plotted on the map based on their position in the
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This will help the customers to identify with the product based on their preferences and personality, and potentially attract them to the brand.
Geographic
Geographic segmentation refers to the process of dividing a market based on geographical location. For businesses like Tim Hortons, expanding into new markets requires consideration of factors such as population size, disposable income levels, economic growth, and consumer preferences. Tim Hortons has already expanded into the Canadian market, which has a large population and a significant proportion of young people. The company has also entered the Indian market and has been successful in generating revenue there. Future target markets for Tim Hortons include Mexico, Spain, and the United Kingdom, among others.
Behavioral
The categorization of customers based on their buying behavior is known as behavioral segmentation. This includes factors such as how often they use the product, on what occasions they use it, and their brand loyalty. Through behavioral segmentation, a company like Tim Hortons can create new product lines that cater to specific groups of customers based on their buying
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500 Words | 2 PagesTo keep up with the times, Tim Hortons is trying to move away from donuts and bring a new demographic through updated interiors and “healthier” menus
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