INTRODUCTION
For this medium-risk mutual fund, the inclusion of Canadian Tire would be a wise choice, as it is a company that has the capability to maintain steady returns, while pursuing initiatives for growth with much success.
BACKGROUND INFORMATION:
Canadian Tire is identified as one of Canada’s most recognized general merchandise retail banners. The company was founded in 1922, and has 95 years of history in business. The company began with auto repairs and “do it yourself” maintenance, but operations have expanded extensively since then. Today, the company sells products under categories including: automotive, living, fixing, sports, playing, apparel and financial services, establishing itself as the go-to store for any Canadian’s …show more content…
Although competitors sell a similarly-priced variety of goods, one key difference between most competitors and Canadian Tire is that many competitors also sell fresh produce and perishable food items, while none of Canadian Tire’s subsidiaries do. Canadian Tire’s new e-commerce models allow it to parallel the services offered by Amazon and Walmart more competitively.
Canadian Tire Corporation can attribute several elements of its business model to its success. Canadian Tire has built a substantial reputation and gained recognition nationally from being in business for almost a century. From it’s 500 stores nationwide, to successful marketing, Canadian Tire Corporation has done an excellent job of creating an image for itself as a business for “Canadian living,” maintaining a tenacious market share across Canada.
To be such a long-lasting company, Canadian Tire has understood the need to transform its business processes as times change. Canadian Tire adopts divergent strategies, like advertising and promotional programs, customer loyalty programs, market research and other methods to market their products effectively to their consumer
For this medium-risk mutual fund, the inclusion of Canadian Tire would be a wise choice, as it is a company that has the capability to maintain steady returns, while pursuing initiatives for growth with much success.
BACKGROUND INFORMATION:
Canadian Tire is identified as one of Canada’s most recognized general merchandise retail banners. The company was founded in 1922, and has 95 years of history in business. The company began with auto repairs and “do it yourself” maintenance, but operations have expanded extensively since then. Today, the company sells products under categories including: automotive, living, fixing, sports, playing, apparel and financial services, establishing itself as the go-to store for any Canadian’s …show more content…
Although competitors sell a similarly-priced variety of goods, one key difference between most competitors and Canadian Tire is that many competitors also sell fresh produce and perishable food items, while none of Canadian Tire’s subsidiaries do. Canadian Tire’s new e-commerce models allow it to parallel the services offered by Amazon and Walmart more competitively.
Canadian Tire Corporation can attribute several elements of its business model to its success. Canadian Tire has built a substantial reputation and gained recognition nationally from being in business for almost a century. From it’s 500 stores nationwide, to successful marketing, Canadian Tire Corporation has done an excellent job of creating an image for itself as a business for “Canadian living,” maintaining a tenacious market share across Canada.
To be such a long-lasting company, Canadian Tire has understood the need to transform its business processes as times change. Canadian Tire adopts divergent strategies, like advertising and promotional programs, customer loyalty programs, market research and other methods to market their products effectively to their consumer