1 Marketing Plan for Introducing a Product or Service in a New Country Introduction Tim Hortons Inc. is a Canadian international coffee shop chain. Founded in 1964 by Tim Horton, the company has expanded continuously throughout the world and as a result become a multi-million dollar firm. In 2014, Tim Hortons became a subsidiary of Burger King through an acquisition that cost USD 11 billion (Joyce, & Thompson, 2013). To enhance its competitiveness, Hortons plans to expand its operations into India, due to its fast-growing economy and viable market. This paper provides a template of the marketing plan that can be used to successfully introduce the company into the Indian market. I.
Executive Summary
Provides a summary of the marketing plan; including recommendations, decision factors and estimated results of the marketing activities. II.
Company Overview
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Mission and Vision of the Company
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Company Goals: To become the most preferred coffee chain in India
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Company Culture: A culture of innovation and excellence
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Current market share and targeted growth.
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2 III. Situational Analysis -
SWOT analysis; Tim Horton's internal characteristics present its strengths and
weaknesses while its external environment is classified as opportunities and threats. -
PEST Analysis – These are the Political, Economic, Sociocultural and Technological
factors that affect marketing in India. -
Customer Profile
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Competitors’ Profile
IV.
Objectives and Goals
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Describe the expected outcome of the marketing activities.
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How will the company offer its products and services differently from the competition?
V.
Segmentation and Targeting Analysis
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Importance of segmentation
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Description of India’s demographics with regard to age, social status, education and
number of people living in cities. -
Describe the ideal target market of Tim Hortons coffee
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An estimate of the size of the target market
VI.
Marketing Strategy
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The 4Ps of Marketing; Price, Product, Place, and Promotion
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Perceptual map of the marketing strategy
VII. Branding Strategy -
What experience does the brand hope to provide customers
3 -
How can it brand itself to communicate the value it delivers.
VIII. Ethical Considerations -
Describe how the company’s marketing plan meets the legal and ethical standards of the
company. IX.
Financial Projections
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Expected promotional expenses
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Expected new customers
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Projection of anticipated income from sales and promotion activities
X.
Conclusion
XI.
References
References
4 Joyce, R., & Thompson, R. (2013). Always Fresh: The Untold Story of Tim Hortons by the Man Who Created an Empire. HarperCollins Canada.