Tim Hortons as a brand that needs no introduction it’s a brand next door for all its customers. But how did Tim Hortons gained all these popularity and evolved as a humongous brand that coffee is not just a coffee its “Tim Hortons” now.
Let’s have a quick look at the company background. Tim Hortons was founded in 1964 by a Canadian hockey player Miles Gilbert Tim Horton played at the defense position for this team and popularly known as Tim Horton along with his partner Jim Charade. Tim initially faced some serious issues in funding the company until he tied his collaboration with a business investor Ron Joyce. This investment gave Tim a huge support in taking the brand forward and after that what you see is history.
1) Economical Pricing Structure:
Tim Hortons, till date has the most economical pricing structure for their products served in their outlets. They have made their coffee so affordable that a person with minimum income can easily have a Tim Hortons coffee without feeling that it’s a costly brand like Starbucks.
They have allowed their customers to select their coffee based on their pocket size, for example, a person with minimum income can go with a single-single which obviously suits their expenses. At the same time, high budgeted customers can customize their coffee accordingly. The best strategy Tim Hortons has maintained is not to compromise with their quality under any price range. A single-single coffee buyer will have the equal quality of a highly customized coffee making everyone feel special.
Analyze your pricing model make sure your services are not that costly for your customers to afford them. Always aim to keep a flexible pricing model.
2) Add-On Products:
Through Tim Hortons is famous for their coffee but their tasty and yummy donuts are equally credited. Even here the company maintained their pricing structure by making donuts so affordable The company says after including donuts and other food offerings in the menu their sales have taken a skyrocketing increase and have ultimately helped them to sell more coffee at their outlets.
Look within your business if there is any low-cost offering that you can add with your core product that instantly connects with your audiences. This can definitely bring a huge difference in your sales.
3) Attractive And Easy To Handle Packaging:
The cup in which Tim Hortons serves its coffee and other beverages is so easily manageable that the customer doesn’t have to unbox it before using it. That small hollow space has done the magic. It is also convenient to carry Tim Hortons’ coffee while travelling, walking, speaking over your phone or chatting with others. This convenience is one of the core reasons that made Tim Hortons a preferred one.
4) The Number of Outlets And Availability:
Tim Hortons has made itself so available for its audiences by opening their stores even at the remote places. This allowed them to increase their customer reach with a great intensity and speed. You may have to struggle to find an ATM counter but you will never struggle to find a Tim Hortons outlet.
Make sure your business is also easy for your customers to find and get in touch with you.
5) Remarkable Jingles and Great Recall Value:
Even a kid is aware of the jingles like Single-Single, Single-Double Double and many others. This had a great impact on their customer’s mind that the recall value of the brand kept on increasing. Now a day, if you want to have a coffee the first that comes to your mind, is a single-double-double and you rush to a Tim Hortons outlet. That is the impact Tim Hortons have created in all these years. Try and find similar jingles for your business that connects with your audiences like anything.
6) Tim Hortons is Still Tim Hortons:
Most of us are aware of the fact that Burger King (American global chain of hamburgers) purchased Tim Hortons in 2014 for US$ 11.4 billion. But the company decided not to change the brand name considering the impact it has on its customers and kept Tim Hortons as the same it used to be even the quality and coffee making process. This is why Tim Hortons is still the first choice when you think of having an instant coffee.
This is how Tim Hortons gathered all its popularity and customer base. Hope it was a beneficial and worthy read for you. Stay connected with us to read such interesting case studies of other popular brands and learn what you can implement into your business.
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