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Canadian Tire - Marketing Plan
36
A New Look at Canadian Tire
Key Topics
1.
Segmentation
2.
Targeting
3.
Agenda
Postioning
Strategy analysis
4.
Company Introduction
- Canadian Tire is an automotive retailer
- They provide services such as:
- Petroleum
- Financial Products
- Sport goods
- Tools and accesories for automobiles
Segmentation
We will begin by taking a took at three possible consumer segments for Canadian Tire.
Segmentation
1
1. Professional Contractors:
DEMOGRAPHICS
- approx. 30-60 years, male
- high income earners
PSYCHOGRAPHICS
- need high-performance, durable tools
- value efficiency and premium products
BEHAVIOURAL
- regularly purchase tools for varying tasks
- loyalty depends on quality and value
2
2. DIY Enthusiasts
DEMOGRAPHICS
- 25-45 years of age, any gender
- middle class earners of all professions
PSYCHOGRAPHICS
- high quality tools to achieve DIY goals
- convinience willing to pay for quality
BEHAVIOURAL
- regularly purchase products
- reliable products for frequent use
3
3. Homeowners:
DEMOGRAPHICS
- average home owner, above 25
- varying incomes
PSYCHOGRAPHICS
- new to tools, repair, and maintence
- want affordable and easy-to-use tools
BEHAVIOURAL
- infrequent purchasing
- switch brands if offered better value
Target Market
DIY Enthusiasts:
- 25-45 years old m/f
- middle to high income ($70,000+)
- trades, architects, engineers
Demographics
Targeting
- high quality/reliable/convenient tools
- passionate about DIY
- interested in development/design around the home
Psychographics
- Downtown Toronto, urban/suburba area
Geographics
- Benefits sought
- Usage rate
Behaviour Response
Target Market Profile
Summary
DIY Enthusiasts
- 25-45 year old males and/or females
- $70,000+ income
- located in Toronto
- innovative and creative
- benefit-driven, heavy users
Target Market
Jethwani, V. (2018, June 6). Seven Things To Consider Before Starting On A Home Improvement Project. My Beautiful Adventures. https://mybeautifuladventures.com/2018/06/06/7-things-to-consider-before-starting-on-a-home-improvement-project/
Positioning Statement
Positioning
Canadian Tire's tools and hardware department is aimed at DIY enthusiasts passionate about creative home renovation projects looking for a variety of high quality, reliable tools to complete the job and achieve their project goals.
Positioning Framwork
Points of Parity :
Wide variety choice home improvement items
Points of Difference:
Dedication to high quality, realiable tools items
Strategic Analysis
Factors influencing marketing strategy:
Product
- Wide range of products
- Creates different selling points for products
- Product warranty
- The product classification is consumer goods
- Products are used for personal use
Pricing
- Has very appealing price points
- Canadian Tire's ivestment strategy
- Has promo codes for online purchases
- High consumer demands influence the price
Pricing
Distribution
- Direct Channel Strategy
- Moderate Intensity
- Prominent location for Convinience.
- E-Retailing (Strong Online Presence)
Promotion
- Leader of high quality tools and Hardware.
- Pull Strategy.
- Advertising- Mass Media.
- Experiential- "Tested For life" & "House of Innovation"
- Sales Promotion.
- Public Relations- Jumpstart.
References
http://media.corporate-ir.net/media_files/TOR/CTC.CA/reports/2006AReng.pdf
https://corp.canadiantire.ca/English/about-us/default.aspx
References
https://corp.canadiantire.ca/English/media/news-releases/press-release-details/2010/Canadian-Tire-Outlines-Strategy-for-Growth-Focused-on-Core-Business/default.aspx
https://www.canadiantire.ca/en/inspiration/tested-for-life-in-canada.html
https://jumpstart.canadiantire.ca/?gclid=CjwKCAjw5pShBhB_EiwAvmnNV1ShaJAr46xxE27lYjBEWlxwBfCum9YMJ7nvkfP6ybLHdK8s0darvhoCFd0QAvD_BwE