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Transcript of Tim Hortons
October 30th, 2012 Tim Hortons Products and Services offered: Overview of Tim Hortons - Tim Hortons provides the community with a welcoming environment, which is great for meetings and gathering with friends
- Free wifi for customers
- Friendly employees who are happy to serve you
- Tim Hortons offers a variety of baked goods (doughnuts, bagels, muffins, and timbits) They also have a variety of hot and cold drinks (Teas, lattes, coffee, iced capps, iced coffee, frozen lemonades and more)
- Tim Hortons also offers take home coffee in tins, and recently has started to sell its coffee for the Tassimo machines
- Tim Hortons offers merchandise from coffee mugs to a home
brewer Strengths: SWOT Analysis of
Tim Hortons - Well known brand name and image(since 1964)
- Franchises repay in 1 to 2 years
- Well involved in the community (timbits, summer camps) Weaknesses: - Long lines
- Slow service at particular locations and at certain times
- Limited beverage choices compared to other companies (Starbucks, McDonalds) Opportunities: - Roll up the Rim
- Seasonal drinks and baked goods
- Offers a variety of scholarships for its employees Threats: - Heavy competition (Starbucks, McCafe, Dunkin Donuts, Seattles Best)
- Customers making their coffee at home because its more environmentally friendly, and it saves them money
- Inflated prices for not so "fresh" food. Everything comes frozen and is defrosted. Competitors: Our Industry - McDonalds new McCafe - Starbucks
- Seattles Best (Mac's) - Dunkin Donuts (US) Porters 5 Forces Barriers to Entry: - Other Tim Hortons in the area
- Competing restaurants with better deals
- Tim hortons every couple blocks Power of Buyers: - Advertise through commercials, billboards, and buses
- Make environment friendly products (cups, wrappers, etc recyclable)
- Make the atmosphere more family friendly (Mostly appeals to seniors) Substitute Products: - Make their own coffee and breakfeast food at home
- Conduct meetings and gather at other locations. McDonalds recently changed it's design which may suite meetings better. Starbucks offers more sophisticated drinks, which may make a better impression as well. Power of Suppliers: - Charge what they want on the products which are shipped to each franchise location
- Minimal suppliers which would impact the products at each location. One factory in Brantford, Ontario bakes all the baked goods, after they are shipped to each location and prepared for sale. Unattractive Industry Economic: PEST + C Politics: - 2 out of 3,000 Tim Hortons are owned by the government
- Tim Hortons follows all food service laws and pays their taxes - In the business cycle the Tim Hortons brand is maturing, they are also growing by having more and more franchise locations
- Tim Hortons has new products that are introduced to meet the demands of customers. Things like seasonal products, and specialty bagels and muffins. Social: - Tim Hortons' objective is to prevent unethical and unlawful behaviour. Every employee must be trained in their Standards of Business Practices.
- Tim Hortons supports local restaurant owners and helps facilitate activities in the
community (ex. Summer camps and timbits hockey) Technology: - Tim Hortons has recently offered free wifi to its customers, to compete with competitors doing the same.
- Tim Hortons regularly gets new equipment to prepare their products with.
This also gives the opportunity for new products like Paninis. Competition: - Their competition is finding new ways to attract Tim Hortons customers. McDonalds is now offering free coffee, to get new customers to try out their coffee. Starbucks creates an environment which is more desired by young adults, unlike Tim Hortons,
which seniors prefer. McDonalds has recently updated its
image with McCafe and their new design. Overall Strategic Direction of Tim Hortons Mission Statement: "Our guiding mission is to deliver superior quality products and services for our guests and communities through leadership, innovation and partnerships. Our vision is to be the quality leader in everything we do." Message from CEO (Paul D. House): "At Tim Hortons, we constantly challenge the status quo. While valuing our past and paying attention to the tenets that have made us successful, we are constantly 'Looking Outside,' and 'Thinking Inside', to successfully position ourselves for the challenges and opportunities ahead." - Paul House Strategies used by
Tim Hortons: - Attacking daypart, category and marketing opportunities to drive same-store sales
- Investing to build their scale and brand in new and existing markets
- Growing differently in ways they haven't before
- Leveraging their core business strengths and franchise system Objections: - To increase same-store sales, they would have to come up with new marketing strategies and
- Growing in different ways may lead
them away from their core
business Internal Corporate Policies " The Board's primary responsibilities include maximizing long-term shareholder value, encouraging the Corporation to conduct its business in a highly ethical manner, creating an environment that respects and values all employees, and promoting corporate responsibility. The Corporation fosters and values the key principles of honesty and integrity. The Board is committed to adhering to and promoting these principles." - Tim Hortons, Board of Directors Diversity - One of Tim Hortons greatest strengths is the diversity of team members at each location. Their team members represent a variety of backgrounds, experiences, and personalities. These aspects make Tim Hortons
positive and inclusive. Corporate Social Responsibility - Tim Hortons has many corporate social responsibility initiatives. Some include of The Tim Hortons Children's Foundation, Implementing recycling bins at each location, and offering discounts to customers using travel mugs.
- Tim Hortons store owners continue to demonstrate community leadership through sponsoring and supporting clean up and tree planting events across Canada.
- Tim Hortons is also a leader in sustainability Video on Tim Hortons first Corporate Social Responsibility Report in 2011 Current Issues - Some people feel that Tim Hortons isn't taking their "No Littering" initiative as seriously as they say they would. - They also think that Tim Hortons isn't doing enough to prevent littering. - The picture to the right, is from a child's walk to school.
On his way, he collected
more than a bag of just
Tim Hortons coffee cups Thank you for watching our presentation on