Your Competitive Advantage
A way for Tim’s Coffee Shoppe to determine the advantages (or weaknesses) they have compared to their competitors is through doing a Competitive Profile Matrix. When you identify your business’s key success factors, you can weigh them according to their strength/weakness against your 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
For this assignment, spend some time looking around Tim’s Coffee Shoppe. Look either online or visit two competitors that Tim may compete against and familiarize yourself with their business. You may even be a frequent customer of a coffee shop and already be aware of how you might rate their strengths against Tim’s. Fill in the matrix (located in the document below) with your results from your research. Feel free to change or add any of the other factors listed.
Once you have completed your matrix, submit a minimum of four pages which includes a title page and a reference page to the dropbox.