TraknProtect: A Detailed Report on Canadian Market Expansion

This report examines TraknProtect, a US-based company, and its strategy to expand into the Canadian market. It begins with an executive summary and table of contents, followed by an introduction outlining the company's objectives and the business environment. The discussion section delves into TraknProtect's business information, including its services in guest management, inventory tracking, and logistics. It then analyzes the Canadian business environment, considering factors like demographics, economic performance, and internet usage. A PESTLE analysis is applied to assess the political, economic, social, technological, legal, and environmental factors influencing the market. The report uses examples and data to illustrate the opportunities for TraknProtect in Canada, particularly in sectors requiring inventory management and logistics solutions. The conclusion summarizes the key findings and implications of the market invasion strategy.

BUSINESS ESSENTIALS
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Executive summary
The paper contains a report that talks about the invasion of a business in the foreign market in
order to expand the business. The report takes into consideration the case of TraknProtect
which is a USA based company wanting to invade the market of Canada. This paper
discusses all the necessary concepts and the topic of market invasion. This includes the
environmental analysis and the environment of the market of Canada among the other things.
The paper concludes with the data and information related to the invasion of the company in
Canadian market.
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Table of contents
1.0 Introduction..........................................................................................................................3
2.0 Discussion:...........................................................................................................................3
3.0 Conclusion............................................................................................................................8
Reference List:...........................................................................................................................9
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1.0 Introduction
Start-ups as well as multinationals plan to expand in Canada due to wide population basket as
well as the mode of technicality which would assist in higher growth of the business. More
than the multinational and international companies, the start-ups are much more interested in
expanding their businesses to Canada. The study provides a brief introduction about the
company's scenario and discusses the business environment of the company. It also applies
an appropriate analytical approach in order to analyse the business environment of the
company. In addition to that application and use of appropriate examples as well as data have
also been shown in the study.
2.0 Discussion:
Business information
The company considered for the study is the TraknProtect, which is headquartered in
Chicago, USA. The main objective of the business is to provide service related to the guest
management as a form of B2B and B2C business. The company is founded by Parminder
Batra, by taking the help of Arun Sobti. The company believes that, every entity has their
own guests and satisfying the guest is desirable both at the individual level and in the
operational level. The company provides assistance to customers and the other business in the
process of guest management. Using the technology of IoT (Internet of Things) the business
allows other businesses and the end customers to satisfy their own guests.
The management of the company envisioned that, the use of the technology will be essential
in the coming years and hence the company has come to fulfil these needs for the
conveniences of the customers and the other business (Wild et al. 2014). The company
provides help to the client businesses such as hotels to use more technologically enriched
products for the service provision to the guests. Regarding that the company provides all the
other associated services such as training programme as well. Using the service of the
company, it is easier for the other businesses to respond quickly to the request of the guest.
The three most essential services that are provided by the business to the other business are
related to the inventory. Assistance is provided by the business to do with the management
process of the inventory, the lack of which increases the operating cost of the business. The
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first and foremost service or help provided by the TraknProtect is to locate particular object
among the pool of inventory. It saves the time and cost for the client business using advanced
analytics and complex algorithm (TraknProtect, 2017). For many of the business, drawing
products from the inventory also takes time and by that time, organisation losses a huge
amount of business. Therefore, TraknProtect, using advanced technologies helps in the
logistics management of the products of the company. In this process the company shortens
the path of the logistics thereby saving the time and cost of transferring the goods for the
client business. Lastly but importantly, the TraknProtect also helps the client business to in
making their inventory decisions. However the company maintains a culture not to disclose
any of the strategy advice given to any of the business of the industry.
The quality as well as the speed of services have been the two most important and significant
factors which are considered by guests while posting the reviews for any particular hotel and
if the hotel would fail in either of the factors, it might result in a 2-star rating and not a 5-star
one on a travel website (TraknProtect, 2017). TraknProtect solution essentially provides the
tracking of real time inventory as well as analytics for reducing the delivery times and
allowing the hotels for enhancing their experiences of welcoming guests along with the
reduction in consuming time for conducting the inventory and make decisions which are
smarter regarding the inventory.
Discussing business environment:
The business environment chosen for the study is Canada. One of the interesting things about
the country is that it is the second largest country in world in terms of area after Russia. Thus,
the country is enriched with vast area of land and natural resources. In addition to that, the
demography of the country is such that, people belong too many of the cultural background
(Pyke et al. 2016). Therefore the tastes and the preferences of the customers in the market
vary significantly. Each of the provinces of the country has their own culture and the
behaviour of the customers and hence the business is different from each other.
In terms of economic performance the country is performing well, however the rising
unemployment of the country has been a point of concern for the government since the year
2010. The country is mainly a service sector dominated country (Zhang et al. 2016).
Additionally another interesting and luring fact for the potential business is that almost 65%
of the overall population of the country uses internet. Therefore for companies like
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TraknProtect this will be helpful. The company has rebounded from the shock it experienced
during the time of 2007 when the growth of GDP of the country fell. Therefore at that
moment the company is experiencing a high rate of GDP growth, which is a scope for the
potential business which is looking to invade the market of Canada (Jenkins, 2013).
Furthermore, Canada has the 6 major sectors, out of which manufacturing has the highest
share. Therefore for the companies like TraknProtect, the Canadian market is there is a huge
scope in terms of expansion (Ebegboni et al. 2016). Thus the scenario of the Canadian
market is supportive of the business like TraknProtect. Again in terms of the rules and the
regulation of the country as well, it is beneficial for the company to invade Canada for the
expansion of the business. The policies of the government are in line with the international
trading; therefore it is easy for the company to invest in the country. Lastly due to the variety
of the sectors present in the economy of the Canada, the demand of TraknProtect can be
stable throughout the year (Ryan et al. 2015). Therefore Canadian market is enriched with
government interested in promoting international trade and the environment of the business is
suitable for the invasion and expansion of the foreign business. Therefore, Canadian market
is suitable for the company in this case.
Analytical framework:
Pestle analysis
Political factors
Political factors such as the ruling Nation or the ruling power of the government under which
TraknProtect company could provide their best services and maintaining the rules and
regulations which are set by the government in order to operate in Canada (Murphy et al.
2016). Political factors also include the freedom and liberty for being used by the hotels in
order to track the inventories every time when the guests check in might also affect the
operation of the company.
Economical factors
Economic factors such as the inflation in the country which would result in higher hotel
prices and expenditures that might not be afforded by guests and hence lower use of
TraknProtect application would be observed. The more the application would be used, higher
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it would have the highest share in the contribution of entire national income of the country
(Ryan et al. 2015). Ample economic factors would eventually imply the tariffs and quota
duties on the operation within Canada which might affect the growth of TraknProtect in the
chosen country.
Social factors
Social factors such as the cultural background, demography of Canada, age, Gender and sex
would determine the use of the application TraknProtect because all these factors would
highly influence the users of the application (Clark and Allee, 2013). The overall population
of Canada and their mentality to visit hotels and restaurant would broadly affect the usage of
the TraknProtect application in the hotels. Therefore, the social factors usually referred to the
business operations of the concerned company.
Technological factors
Technological factors such as the advancement and modernization of technologies would
accelerate the growth of this company and the use of its application in the Hotels and resorts
the availability of modern technology as well as advanced machinery also affects the use of
track and protect within the resorts and hotels. Application of modern technology along with
this application would contribute to higher growth and success of the hotels and grow their
capabilities to save more and waste less (Brockerhoff, 2015).
Legal factors
The legal factors such as licensing of the company and the freedom to operate all over the
Canada would highly affect its operations. Without allowances and provisions from the
government this business cannot expand freely in the market of Canada and enjoy profits.
Legal factors such as growing up of organisational policies and rules as well as set up new
ones to accumulate each and every business transaction to occur smoothly in the company
(Ebegboni et al. 2016).
Environmental factors
Environmental factors such as the climatic and weather changes would induce the people to
either shift to hotels or move from the hotels. This would highly repeat to the rate of
customers checking in and checking out from the hotels (Ulijn, 2017). The environmental
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factors would also include availability of resources within the hotels to use the application in
right form.
Application of examples and data:
The Canada has 6 major sectors of the economy including renewable energy sector, forestry
sector, hydrogen and fuel sector, mines, fishing and many more. However the lion’s share of
the economy is captured by the manufacturing sector. According to Clark and Allee (2013),
the manufacturing sector requires huge amount of inventory operation within the country.
Interesting thing about the Canadian market is that, most of the industry requires logistic
management system for the operation, especially the manufacturing sector due to the vast
area of land within the country. Thus the gains to be had from the market for the companies
like TraknProtect are immense (Jenkins, 2013). The opportunity for the company to expand
in the market is huge. For example, one of the most important groups of business founded in
Canada is the Aldo group. The production of each of the product of the company takes place
in different places of the country which are significantly apart from each other. The business
is a retail chain, therefore requires moving their products from one part of the country to
another. Therefore, Pyke et al. (2016) stated that, logistics and inventory management
becomes one of the main challenges for these businesses.
Again the company has helped significantly in the businesses of USA. According to the data
of the company, the client companies of TraknProtect could be able to increases service
provision by 19% without significant change in the delivery time for each of the request of
the guests. It has reduced the time devoted to each of the request of the guest to 10 minutes
without even compromising on the quality (Ryan et al. 2015). This has a huge capacity to
operate in the market of Canada. The scope for the business to grow in the market of Canada
is more than that of USA. In addition to that the hotel and the resort accounts for 9 % of
overall GDP of the country. This requires high level of inventory and the logistics
management which is provided by the company TraknProtect. Thus, in Canada the company
has a lot of potential to grow and expand the business using the environment and the structure
of the economy.
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3.0 Conclusion
Through the study it is clear that dragon but it might occupy a large share of the market
through the existing hotels and resorts which would have been profitable through the use of
application. It also portrays the business environment which might affect the operation of the
track and product and would be clear about the factors affecting its operation. The study also
explicates the business environment of the company and applies the use of appropriate data
along with examples for a clear understanding of the readers. Through the study one can get a
clear knowledge about operating in another country while having its origin in one country.
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Zhang, M., Lu, W., Huang, Y., Shi, J., Wu, X., Zhang, X., Jiang, R., Cai, Z. and Wu, S.,
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