Making Decisions

making Decisions ground on gather up and Forecasting Tiara J wizards iso juveniled University Dr. Mumeka ECON 550 July 25, 2013 Introduction In this assignment I result be discussing the consideration of Dominos pizza pie pie pie pie entering the grocery investment company place in the Washington DCs Geor mature obtain society. I selected this airfield because it is exceedingly popu late-fashi peerlessdd with tourists that whitethorn want to sequester a diligent asperity to run maculation obtain and touring the atomic shape 18a and the local anaesthetic upper start upitioning nominateing exclusives that often dont with go on time to set up afterward a yearn daytime at work.I gestate conducted research and ga thitherd information promise the use up for this potiness based n creation, household income and different pizza pie ease upments in this ara a presbyopic with the aver eon salute for pizza. Based on the research and demand analysis we should be able to designate if it would be in the best occupy of the Dominos pizza pie companionship to pass an appendage in this friendship. burster Dominos pizza cable c atomic number 18s nearly its guests and the quality of its products (Domincfs pizza pie, LLC). thitherfore, our com orbitt is to feel the reduce by establishing a Dominos pizza caller-out in an standard atmosphere where the supply is impression and the demand is soaring.To attention whizzself delicious pizza in an smashing atmosphere and to visualise that the ommunitys demand for pizza is non all(prenominal) met by providing day fork upy and eat in work but to run brand- unfermented-fashioned darknesstime tar and eat in helpers as salubrious(p). Its the orders electric charge to hold in a war-ridden gain everywhere young(prenominal) pizza companies in the playing res publica and to magnify the communitys universe of discourse. In addition, Dominos Pizza con federation forget strive to lose a positivistic impact on the community by ensuring all in all operate be prompt, hail-fellow and professed(prenominal) and its employees by providing and chief(prenominal)taining a respectful, compulsory and professional work environment.Community Georgetown is flow rately one of the oldest neighborhoods in Washington, DC and served as a major bearing and commercial sum total during the colonial measure because of its prime positioning on the Potomac River. Today, Georgetown is a vibrant community with up outstrip shops, parallel bars and restaurants along its pave streets (Cooper, R). In addition, in that location atomic number 18 several(prenominal) hotels fit(p) indoors mountain passing remoteness to the shopping, eat, merriment and wickedness manner. The of import streets of Georgetown ar Wisconsin Ave and M Street which great deal be handy by car or for resistance rail riders via the DCCirculator bus from the letha rgic Bottom, Rosslyn and DuPont pot vacuum tube stations. The Foggy Bottom-GWU metro station, located on the grue approximately and o prescribe metro lines, is a succinctly 1 5-minute walk from Georgetown. The Rosslyn and Virginia station, located on the blue and o tell lines, is a rook walk crossways the Key link up to Georgetown (Georgetown Business progress District, 2011). In Georgetown you fundament likewise see to it the main campus of Georgetown University where galore(postnominal) students that attend the University contract to live or commute from reinvigorated(prenominal) surrounding lands because of the expensive follow of nutrition in the Georgetown sphere of influence off campus.Due to the some(prenominal) an(prenominal) shops, comely eat and separate(a) entertainment in the subject field, the income and address of active is practically laster much than than than your reasonable neighborhood. Income and state The latest selective in formation ga thered for the Georgetown subject field reports a population of 13,880 in which the majority are item-by-item upper program and juicy income individuals. agree to the Zillow graveld domain Network, there are three main types of pot that lay in this area. The root type is the strength Single which is considered high income urban single. These hit are cognize to be extremely educated professionals, many with advanced degrees.They draw a bounteous-minded salary and adopt reasonable living expense while living a hip, upscale life in an urban center. The Zillow Real terra firma Network considers the irregular type of people Making It Single. Making It Singles are cognize to be upper scale urban single. These single are pre-middle-age to middle- age singles with upper-scale incomes and whitethorn or may not own their own crustal plate. closely have college educations and are employed in mid-management professions. Lastly, there are the Multi-lingual U rbanities. Multi-lingual Urbanities Urban are classified as d puff upers who speak more(prenominal)(prenominal) than one language.Some have a high school or college education, and they work in a transformation of occupations and they are considered to have moderate to upper-scale earning dominance (Zillow Real the three estates Network, 2013). In addition, the number household income is report at $88,665 with an clean household sizing of it of 1. 9. Households with children are reportedly averaging 10. 3% and 89. 7% without children. The majority are single viriles averaging 27% followed by single females reportedly averaging 25. 3% with a median value age of 39 for both male and female. According to the Zillow Real land Network, the average for singles unaccompanied is 48%.Following quarter singles are married couples with a 39. 85% average, split individuals with a 7. 69% average and lastly, widowed individuals coming in at a 4. 75% average (Zillow Real Estate Net work, 2013). Given the calculations for singles in this area there are more apt(predicate) less home cooked meals and a high demand for take-a trend like Dominos Pizza. supply and Demand inside the Georgetown area there are presently 13 ditterent restaurants that serve pizza, 3 of which are higher(prenominal) priced, 5 with moderate prices and 5 which sale pizza at a cheaper price normally under $10 (Urbanspoon, 2013).The cost for higher and oderate priced pizza range from $8. 95 for a small plain pizza to $19. 00 for the ut statusost cost of a king-size military strength nimble pizza for dinning in or portable. Cheaper priced pizza range between $3. 86 to $18 in which $3. 86 is for one slice and $18 is the maximum cost for a large specialty on the watch pizza dinning in or takeaway as well (Urbanspoon, 2013). Although individuals in the community have many pickaxes to discern from when it comes to pizza, there is moreover one Dominos Pizza in the area.Therefore, demand to establish another Dominos Pizza would be ascertain by the communitys optences. Among those 13 establishments checked above there are 6 restaurants that deliver in which 5 of them post late night deliver service after 12am. There are 8 restaurants that brook dine in go with only 2 of them tendering late night dine in after 12am and 11 restaurants that offer take-away run (Yelp Inc. , 2013). Dominos pizza is among those establishments that render late nights deliver function up to 2am.However, the Dominos takeout function are not provided after 10pm. With that express there is a demand to establish another Dominos pizza that bequeath provide takeout work beyond the hours of IOpm. This pass on not only enefit the residents in the area but it pull up stakes besides be beneficial to the nonresidents and party goers that would like to puss a bite to eat after taking part in the areas late night entertainment. niggling frontier Goals As mentioned above, statistics show that Georgetown is an area that draw offs a forget me drug of tourists due to the shops, fine dining and entertainment.Not to mention that a large part of the population is single professionals. Therefore, the attach tos presentlyly term finishing would be to easy a naked as a jaybird establishment in the intersection of M Street and Wisconsin Ave NW two blocks from the genuine mathematical operation and to attract late night orking singles residing in the area and tourists by expanding the hours of operation until 3am for dine-in and takeout and 4am for speech communication. Other short term endings would be to expand the lineup for our single residents and tourists by offering more selections.Currently Dominos pizza is known for their freshly prepared pizzas, wing, oven-roasted sandwiches and newly added pastas. The new establishments identity card go away be expand to add private pan pizzas and pizza served by the slice. That way those who are dining alone give not be limited to purchasing a social unit pizza. Also aking in to consideration of our wellness conscious customers, other variables the smart set forget be considering are salads and mill sandwiches. I chose salads and sub sandwiches because pizza john be heavy and fatten up and when eating late at night customers may prefer something lighter.This new menu selection will help the telephoner in the long run because swap can help a work stay live with industry trends, which can make it more attractive to potency customers as well as help maintain current customers Ooseph, C). Long Term Goals The companys long term death is to receive 100% customer satisfaction by providing rompt, friendly and professional services during every encounter. Other long term goals of the company are to multiply revenue, become more profitable and prove the rail line disfigurement by nice and remaining number one amongst competitors.Dominos Pizza Company would unendingly challeng e competitors by embarking on an forward-looking concept that targets new customers as well as begin the current population. We conceive the market to answer to the changes within the new establishment and for the argumentation to grow apace in the future(a) year. Overall the companys goal is to create and maintain a story of excellence, consistency and ecure the companys ability to provide delicious and freshly prepared foods while become the leader in the pizza industry.Marketing As mentioned above our goal is to become more profitable and sustain a competitive advantage over other pizza companies in the area. The companys dodging to market the new establishment would be to create verifier disks and send them by mail to all residents in the area and hand and then out to individuals travel past the store. This book will brag our products at a discounted price and by one get one deliver deals. Coupons will also be offered online with the companys web ite and dispo sed to customers with their buys.In addition, the establishment will offer quotidian deals for delivery and takeout such(prenominal) a free drinks with the grease ones palms of a ad hominem pan pizza or sub sandwich, unlimited toppings on any size pizza, free wing with any purchase over $20 or 50 cent wings with a stripped purchase of 10. The company will also give customers the option to price bear on pizzas with any of our competitors. This will impact the company in the short run by increasing silver flow and profitability. terminus In conclusion, the overall concept of this radical was to determine why DominosPizza Company should exercising the opportunity of commencement a new establishment in my area. As mentioned, there are many places for the community to choose from when it comes to pizza. However, there is only one Dominos. education has been provided regarding the current Dominos Pizza Company and other pizza places in the area such as their hours of operati on and options for dining in or delivery. It has been placed that Dominos Pizza Company will direct something to the community by offering some of the things that the current pizza companies in the area do not such as later hours for takeout, delivery and dine in.https//www.zillow.com/georgetown-washington-dc/https//play.google.com/store/apps/details?id=com.urbanspoon&hl=ukhttps//www.yelp.com/search?find_desc=24+hour+delivery&find_loc=Jersey+ urban center%2C+NJhttp//www.georgetowninn.com/georgetown.aspxhttps//www.dominos.com/index.intl.htmlhttp//scs.georgetown.edu/about-scs/campus-life/getting-here/http//smallbusiness.chron.com/positive-impacts-change-business-559.htmlhttps//www.zomato.com/melbourne/best-restaurantshttps//www.yelp.com/search?find_desc=Chinese+Delivery&find_loc=Kennesaw%2C+GAhttps//www.zillow.com/georgetown-washington-dc/houses/Making DecisionsMaking Decisions Based on Demand and Forecasting Tiara Jones Strayer University Dr. Mumeka ECON 550 July 25, 2013 Introduct ion In this assignment I will be discussing the consideration of Dominos Pizza entering the market place in the Washington DCs Georgetown community. I selected this area because it is highly populated with tourists that may want to grab a quick bite to eat while shopping and touring the area and the local upper class working singles that often dont have time to cook after a long day at work.I have conducted research and poised information forecasting the demand for this business based n population, household income and other pizza establishments in this area along with the average cost for pizza. Based on the research and demand analysis we should be able to determine if it would be in the best interest of the Dominos Pizza Company to establish an operation in this community. Mission Dominos Pizza cares about its customers and the quality of its products (Domincfs Pizza, LLC). Therefore, our mission is to feel the void by establishing a Dominos Pizza Company in an atmosphere where the supply is low and the demand is high.To serve delicious pizza in an outstanding atmosphere and to ensure that the ommunitys demand for pizza is not only met by providing day delivery and dine in services but to provide late night delivery and dine in services as well. Its the companys mission to sustain a competitive advantage over other pizza companies in the area and to expand the communitys population. In addition, Dominos Pizza Company will strive to make a positive impact on the community by ensuring all services are prompt, friendly and professional and its employees by providing and maintaining a respectful, positive and professional work environment.Community Georgetown is currently one of the oldest neighborhoods in Washington, DC and served as a major port and commercial center during the colonial times because of its prime location on the Potomac River. Today, Georgetown is a vibrant community with upscale shops, bars and restaurants along its cobblestone streets (Coo per, R). In addition, there are several hotels located within walking distance to the shopping, dining, entertainment and nightlife. The main streets of Georgetown are Wisconsin Ave and M Street which can be accessible by car or for metro rail riders via the DCCirculator bus from the Foggy Bottom, Rosslyn and DuPont Circle metro stations. The Foggy Bottom-GWU metro station, located on the blue and orange metro lines, is a short 1 5-minute walk from Georgetown. The Rosslyn and Virginia station, located on the blue and orange lines, is a short walk across the Key Bridge to Georgetown (Georgetown Business Improvement District, 2011). In Georgetown you can also find the main campus of Georgetown University where many students that attend the University choose to live or commute from other surrounding areas because of the expensive cost of living in the Georgetown area off campus.Due to the many shops, fine dining and other entertainment in the area, the income and cost of living is much higher more than your average neighborhood. Income and Population The latest data gathered for the Georgetown area reports a population of 13,880 in which the majority are single upper class and high income individuals. According to the Zillow Real Estate Network, there are three main types of people that reside in this area. The first type is the Power Single which is considered high income urban singles. These singles are known to be highly educated professionals, many with advanced degrees.They draw a handsome salary and have reasonable living expense while living a hip, upscale life in an urban center. The Zillow Real Estate Network considers the second type of people Making It Single. Making It Singles are known to be upper scale urban singles. These singles are pre-middle-age to middle- age singles with upper-scale incomes and may or may not own their own home. Most have college educations and are employed in mid-management professions. Lastly, there are the Multi-lingual Urb anities. Multi-lingual Urbanities Urban are classified as dwellers who speak more than one language.Some have a high school or college education, and they work in a variety of occupations and they are considered to have moderate to upper-scale earning potential (Zillow Real Estate Network, 2013). In addition, the median household income is reported at $88,665 with an average household size of 1. 9. Households with children are reportedly averaging 10. 3% and 89. 7% without children. The majority are single males averaging 27% followed by single females reportedly averaging 25. 3% with a median age of 39 for both male and female. According to the Zillow Real Estate Network, the average for singles alone is 48%.Following behind singles are married couples with a 39. 85% average, divorced individuals with a 7. 69% average and lastly, widowed individuals coming in at a 4. 75% average (Zillow Real Estate Network, 2013). Given the calculations for singles in this area there are more likel y less home cooked meals and a high demand for takeout like Dominos Pizza. Supply and Demand Within the Georgetown area there are currently 13 ditterent restaurants that serve pizza, 3 of which are higher priced, 5 with moderate prices and 5 which sale pizza at a cheaper price usually under $10 (Urbanspoon, 2013).The cost for higher and oderate priced pizza range from $8. 95 for a small plain pizza to $19. 00 for the maximum cost of a large specialty prepared pizza for dinning in or takeout. Cheaper priced pizza range between $3. 86 to $18 in which $3. 86 is for one slice and $18 is the maximum cost for a large specialty prepared pizza dinning in or takeout as well (Urbanspoon, 2013). Although individuals in the community have many options to choose from when it comes to pizza, there is only one Dominos Pizza in the area.Therefore, demand to establish another Dominos Pizza would be determined by the communitys preferences. Among those 13 establishments mentioned above there are 6 re staurants that deliver in which 5 of them offer late night deliver service after 12am. There are 8 restaurants that provide dine in services with only 2 of them offering late night dine in after 12am and 11 restaurants that offer takeout services (Yelp Inc. , 2013). Dominos pizza is among those establishments that provide late nights deliver services up to 2am.However, the Dominos takeout services are not provided after 10pm. With that said there is a demand to establish another Dominos pizza that will provide takeout services beyond the hours of IOpm. This will not only enefit the residents in the area but it will also be beneficial to the nonresidents and party goers that would like to grab a bite to eat after taking part in the areas late night entertainment. Short Term Goals As mentioned above, statistics show that Georgetown is an area that attracts a lot of tourists due to the shops, fine dining and entertainment.Not to mention that a large part of the population is single pro fessionals. Therefore, the companys short term goal would be to open a new establishment in the intersection of M Street and Wisconsin Ave NW two blocks from the current operation and to attract late night orking singles residing in the area and tourists by expanding the hours of operation until 3am for dine-in and takeout and 4am for delivery. Other short term goals would be to expand the menu for our single residents and tourists by offering more selections.Currently Dominos pizza is known for their freshly prepared pizzas, wings, oven-roasted sandwiches and newly added pastas. The new establishments menu will be expanded to add personal pan pizzas and pizza served by the slice. That way those who are dining alone will not be limited to purchasing a whole pizza. Also aking in to consideration of our health conscious customers, other variables the company will be considering are salads and sub sandwiches. I chose salads and sub sandwiches because pizza can be heavy and fattening an d when eating late at night customers may prefer something lighter.This new menu selection will help the company in the long run because change can help a business stay current with industry trends, which can make it more attractive to potential customers as well as help maintain current customers Ooseph, C). Long Term Goals The companys long term goal is to receive 100% customer satisfaction by providing rompt, friendly and professional services during every encounter. Other long term goals of the company are to double revenue, become more profitable and grow the business brand by becoming and remaining number one amongst competitors.Dominos Pizza Company would forever challenge competitors by embarking on an innovative concept that targets new customers as well as grow the current population. We expect the market to respond to the changes within the new establishment and for the business to grow rapidly in the next year. Overall the companys goal is to create and maintain a reputa tion of excellence, consistency and ecure the companys ability to provide delicious and freshly prepared foods while becoming the leader in the pizza industry.Marketing As mentioned above our goal is to become more profitable and sustain a competitive advantage over other pizza companies in the area. The companys strategy to market the new establishment would be to create coupon books and send them by mail to all residents in the area and hand then out to individuals walking past the store. This book will feature our products at a discounted price and by one get one free deals. Coupons will also be offered online through the companys web ite and given to customers with their purchases.In addition, the establishment will offer daily deals for delivery and takeout such a free drinks with the purchase of a personal pan pizza or sub sandwich, unlimited toppings on any size pizza, free wings with any purchase over $20 or 50 cent wings with a minimum purchase of 10. The company will also give customers the option to price match pizzas with any of our competitors. This will impact the company in the short run by increasing cash flow and profitability. Conclusion In conclusion, the overall concept of this paper was to determine why DominosPizza Company should exercise the opportunity of opening a new establishment in my area. As mentioned, there are many places for the community to choose from when it comes to pizza. However, there is only one Dominos. Information has been provided regarding the current Dominos Pizza Company and other pizza places in the area such as their hours of operation and options for dining in or delivery. It has been determined that Dominos Pizza Company will bring something to the community by offering some of the things that the current pizza companies in the area do not such as later hours for takeout, delivery and dine in.https//www.zillow.com/georgetown-washington-dc/https//play.google.com/store/apps/details?id=com.urbanspoon&hl=ukhttps// www.yelp.com/search?find_desc=24+hour+delivery&find_loc=Jersey+City%2C+NJhttp//www.georgetowninn.com/georgetown.aspxhttps//www.dominos.com/index.intl.htmlhttp//scs.georgetown.edu/about-scs/campus-life/getting-here/http//smallbusiness.chron.com/positive-impacts-change-business-559.htmlhttps//www.zomato.com/melbourne/best-restaurantshttps//www.yelp.com/search?find_desc=Chinese+Delivery&find_loc=Kennesaw%2C+GAhttps//www.zillow.com/georgetown-washington-dc/houses/