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GLOBAL BUSINESS STRATEGY Final group assignment Identification of two new countries as potential markets for Tim Hortons  Australia  India Australia as a potential market for Tim Hortons: Australia is a sovereign and highly developed country. It is the world’s 13th largest economy in terms of the ...

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GLOBAL BUSINESS STRATEGY Final group assignment

Identification of two new countries as potential markets for Tim Hortons  Australia  India

Australia as a potential market for Tim Hortons: Australia is a sovereign and highly developed country. It is the world’s 13th largest economy in terms of the GDP of the country. The income of the people of the country is quite high with world’s tenth largest per capita income. The capital of Australia is Canberra and one of its largest cities is Sydney. It has various other major cities such as Melbourne, Brisbane, Perth, Adelaide and many more. Immigrants in Australia account for about 26% of its total population [ CITATION Uni \l 3081 ]. Climate: In Australia, the climate in the northern part of the country is opposite of the south. In summers, the north part is hot and humid whereas, in winters it is quite warm

and dry. On the other hand, in the south, it has mild summers and cool winters [ CITATION Aus \l 3081 ]. Fast Food Industry: The fast food industry of the country is growing from the last few years and has a great potential. According to a market research report, an average Australian household spend around $4900 a year on eating out. Along with the success in the food and beverage sector, it is also believed that maintaining financial stability in such an industry is becoming difficult day by day. To stand out from its competitors a company has to retain its customers for which efficient customer satisfaction skills are required by any business. For long-term success marketing is the key. Social media is one emerging tool for the expansion of the business in such a country [ CITATION Eat \l 3081 ].

India as a potential market for Tim Hortons: India is a nation in South Asia. India is the most populated country after China and seventh largest by area. In 2017, India was positioned sixth by GDP and third position in terms of purchasing power parity. India is one of among the developing nations of the world and growing at a massive rate for becoming one among the powerful countries [ CITATION Ind18 \l 3081 ]. Climate: India can be described as a hot tropical country except some of the states such as Jammu & Kashmir. Summers are very hot and during winters the temperature is lower than 5 degrees [ CITATION Ind \l 3081 ]. India’s Fast Food Industry: India’s fast food industry has a great potential. It is increasing every year. In India, food sector is considered to be one of the most profit-making industries and adds great value to the overall economic situation of the country. Food and grocery markets in India are ranked sixth largest in the whole world [ CITATION Bra \l 3081 ].

Assessing the Potential to Establish Tim Hortons in India and Australia  Market requirements: India: As we know that India is growing market and it is emerging in a well manner. India has population of 1.3 billion people which is itself an opportunity. Moreover, India gives an excellent opportunity for Canadian businesses but there are some obstacles for the market as India is not a single market. We know that India is multilingual country with different kind of cultures. So, Indian can satisfy the needs, but it has some obstacles which can be faced by the business in India. Australia: Australia is known to have one of the best lifestyles in the world, and this can satisfy the needs of the business as a business wants to have strong customers which we can get in Australia. Along with this, Australia has variety of resources which becomes an opportunity for the business. So, Australian market can satisfy the needs of the business.  Potential customers: For our both Indian and Australian market, a complete research of the market is essential to know about the potential customer. As complete study can prevent from business loopholes. As knowing your customers can be most difficult task.

India has huge middle class, and middle class is fit for our business as we know that price of the products of Tim Hortons is average which can be suitable for a middle-class family as they can easily afford it. Whereas in Australia, people are habitual of drinking coffee and having other stuff. As Australian culture and Canadian culture are of relatively same. This indicates that in Australia, Tim Hortons can get the same market as of Canadian market.  Competitors: India: In India, there are various coffee shops such as Starbucks, Café Coffee Day and so on. Most of the young generation prefers rather than any other local coffee shop to go there as they find better quality and these brands are known for their quality and they have good reputation in the market. So, it will be difficult for us to set-up Tim Horton’s in India as these brands and some of local business. Local business is also an great obstacle in India. Australia: In Australia, we can find so many local shops which are preferred by Australians. These local shops give huge competition to international coffee makers. According to Tatley, in Australia because of this competition, there are only 25 stores of Starbucks. This shows that there is great competition in Australia.  Regulatory Framework:

India: To enter in the market of India, one just has to fill a document online which is Integrated Incorporation Form INC-29. Now one does not need to stand in the long queue, one can do this just by sitting at home. Director Identification Number is essential, so a person has to apply for this. An approval for the name of the company and Permanent Account Number is mandatory to apply. After all this, Tax Account Number should be applied. All this process is approximately 10-15 days long only (Chauhan, 2016). Australia: There are chief legislation in Australia which regulate the system. Aa per them, our company should be registered with The Australian Securities and Investments Commission (ASIC) as it tells all the rights and rules to foreign company for doing a business in Australia. This is the process which have to be followed by foreign company to do a business in Australia.

References: How to Reach Out to Potential Customers. (2017, September 26). Retrieved from https://www.indianretailer.com/article/whats-hot/trends/How-to-Reach-Outto-Potential-Customers.a5816/ Tatley, N. (2016, May 19). Independent coffee shops ruling the roast in Australia. Retrieved from https://canada.businessesforsale.com/canadian/search/foodbusinesses-for-sale/articles/independent-coffee-shops-ruling-the-roast-inaustralia How to Reach Out to Potential Customers. (2017, September 26). Retrieved from https://www.indianretailer.com/article/whats-hot/trends/How-to-Reach-Outto-Potential-Customers.a5816/ India Overview. (n.d.). Retrieved from https://www.completebizzconsulting.com/india-overview A (2018, July 11). India becomes world's sixth largest economy, muscles past France - Times of India. Retrieved from https://timesofindia.indiatimes.com/business/india-business/india-becomesworlds-sixth-largest-economy-muscles-past-france/articleshow/64941102.cms Brand India. (n.d.). Retrieved from https://www.ibef.org/industry/indian-foodindustry.aspx

Eating Out in Australia: 2017 in Review. (n.d.). Retrieved from http://futurefood.com.au/blog/2018/1/10/eating-out-in-australia-2017-inreview W. (n.d.). Australia. Retrieved from https://www.weatheronline.co.uk/reports/climate/Australia.htm W. (n.d.). India. Retrieved from https://www.weatheronline.co.uk/reports/climate/India.htm United Nations Population Division | Department of Economic and Social Affairs. (n.d.). Retrieved from https://www.un.org/en/development/desa/population/migration/data/estimates 2/estimatesmaps.shtml?1t1...