A way for timrsquos coffee shoppe to determine the

Assignment Help Marketing Management

Reference no: EM13392292

A way for Tim’s Coffee Shoppe to determine the advantages (or weaknesses) Tim’s has as compared to their competitors’ is through doing a Competitive Profile Matrix (CPM). When you identify Tim’s key success factors, you can weigh them according to the strength/weakness compared to the competitors.

View the full Assignment details and rubric below.

Once you have completed your matrix, submit a minimum of four pages which includes the CPM, your recommendations for Tim, as well as a title page and a references page to the Dropbox area of the course.

Additional Resource: The U.S. Small Business Administration website.

You are a marketing consultant to Tim’s Coffee Shoppe. A way for Tim’s Coffee Shoppe to determine the advantages (or weaknesses) Tim’s has as compared to their competitors is through doing a Competitive Profile Matrix (CPM). When you identify Tim’s key success factors, you can weigh them according to the strength/weakness as compared to the competitors. You can set any weight you wish, but a simple one is:

1 – Major weakness

2 – Minor weakness

3 – Minor strength

4 – Major strength

Key success factors can be identified for the business. They can include things such as the quality, location, brand recognition, profitability, product, the staff, etc. In the matrix, you will list these factors and rate the strength of each one in Tim’s business as well as his primary competitors. See the example below. Each coffee shop was ranked first, second or third in each of the factors that may or may not affect their competitive advantage.

Factor	Tim’s Coffee Shoppe		Competitor 1 (Enter Name)		Competitor 2 (Enter Name)
	Score	Comments	Score	Comments	Score	Comments
Quality	1		2		3
Location	2		1		3
Brand Recognition	3		1		2
Profitability	2		3		1
Product	1		2		3
Staff	1		3		2
Total

Now using competitors researched on the Internet or in your local area, create a CPM for Tim.

Other factors you may wish to consider include:

Price
Selection
Service
Reliability
Expertise
Company Reputation
Social Responsibility
Appearance
Credit Policies
Advertising

Reference no: EM13392292

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