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

  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 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. You can examine the data in several ways. While the total score for Tim’s business maybe is higher than his major competitors, Tim’s may have a lower score in another area which means they are not as competitive in those areas. Some of these areas might allow their competitors to create advantages and their customers or potential customers may choose their competitor over Tim’s business. For example, if their products are closely rated but their competitor has a higher score on staff friendliness, might their customers start frequenting their competitor’s business? What would you recommend to increase Tim’s score in this area? For this Assignment, spend some time looking around Tim’s Coffee Shoppe. Look either online or visit two competitors in your area 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. Additional Resource: The U.S. Small Business Administration website. In addition to the completed Competitive Profile Matrix, summarize your findings and the implications and recommendations to Tim in a minimum of a one page summary. Additionally add a title page and a reference page