Domino as a Fast-Food Restaurant - Essay Example

Product Analysis about Fast Food Restaurant: Domino Introduction A fast food restaurant is a Quick Service Restaurant (QSR) having minimal table services. The foods served are ready to eat and is cooked in advance. The fast food restaurants have a varied range of cuisines and/or supplies food through controlled supply channels. While the concept of fast food restaurants was introduced in 1921, in United States, it took pace in the late 21st century throughout the world. Correspondingly, Domino’s Pizza was founded in the year 1960 and is recognized as a world leader in Pizza delivery. The company has a mission to be the best pizza delivery company in the world. With a varied range of fast food items and ready to eat deserts, the company has been operating well in the international market. The company, in order to meet the changing demands, has been updating their marketing strategies as per the need of the changing time. Moreover, the company has also been serving a varied range of delicacies to capture markets of the fast food restaurants. The company has also opened a large number of franchises to serve people better in the larger number (Dominos IP Holder LLC, 2008). Herewith, the paper focuses to complete a detailed analysis of the fast food restaurant. By analyzing the different market recommendations of the fast food restaurant, a detailed picture of their market strategy is framed. The paper also describes the current fast food services the company is trading on from a critical point of view, highlighting its positives and negatives as well. Evaluation of the 4Ps Product Initially, Domino’s was involved in serving only Pizzas since its inception. Gradually, with the changing demand and taste preferences, the company became diversified in its food services with the inclusion of a variety of flavored pizzas and a varied range of deserts into their product line. In comparison to other food items, its Handmade Pizza has been a Unique Selling Proposition (USP) to the company, attracting high demand from the targeted consumers. The company has also been selling a wide range of products like the Parmesan Bread Bites, Stuffed Cheesy breads and Chocolate Lava Crunch to attract a diversified customer group. The company is recognized to be the bestsellers of a varied range of products, which has set a benchmark in the industry by ensuring timely delivery with quality. To increase the convenience of home delivery, Domino’s has been taking initiatives in opening a virtual store. These virtual stores were designed in order to enhance the customer’s convenience in placing orders. Additionally, in order to enhance the quality of the service, the company later introduced the scheme of Domino’s Heat Wave Bag, which used electromagnetic bags to keep the pizzas oven hot during home deliveries as well (Scribd Inc., 2014). Price Domino’s follows a competitive pricing policy, which provides it with a competitive edge over others. To be noted in this regard, the company has been observing a significant degree of economic fluctuation to implement strategies in the market, which has further played a crucial role in shaping its competitive positioning. For instance, the low pricing strategy of Domino’s has provided the company with an advantage to maintain its customer base efficiently. Dominos also follows a seasonal pricing strategy to attract the customers and to maintain an edge over its competitors. Dominos has been trading well in the international market owing to its consistency in pricing strategies that offer continuous offers in the various regional markets. The company, to have a competitive advantage, to develop its market, has also been providing for discounts on bulk purchases. The company has also been increasing its pricing strategies in order to develop the company’s competitive advantages with a sustainable point of view (Scribd Inc., 2014). Place Domino’s has been trading in 50 countries and has more than 8000 stores all over the world. The company has been positioning its stores in the most convenient locations, which has contributed to its competitive position. This positioning strategy has been adopted by the company to enhance the convenience of its delivery jobs. The company has been having their USP in the takeaways, online ordering and mobile ordering services. Hence, the company has been positioning their stores in such a way that its can meet the consumer demands easily. With a flexible strategic positioning, the company has also made its stores easily accessible by the consumers. In order to increase the convenience of the walk-in customers, the company has also been focused on locating its stores in elite places. To be precise, to enhance its distribution channels, the company has been placing its stores in such positions of the city that the targeted consumers are satisfied (Scribd Inc., 2014). Promotion The promotional strategies adopted by Dominos have been focused to increase sale of products and services by delivering innovative packages to fit the consumer budgets. In addition to the above, the company also offers its customers with a number of discounts and other promotional benefits to attract the consumers to purchase pizzas. The company has been strategically placing its posters at the doorways so that the details of the products and services could easily be viewed by the consumers in a convenient manner. The company has been vividly promoting its discounts and tailor-made products to increase sale of the products. Moreover, the value added services provided by the company like games on the floor involving staff members as well as customers have also been adding to their number of customers and sustainability. By using the different promotional medium to enhance customer knowledge base about the products and services on offer, Domino’s has also been increasing its credibility in the market (Scribd Inc., 2014). Positives Dominos has been enjoying the fame of the leading fast-food delivery company in the world. It is in this regards that the company has been successfully developing its brand equity since its inception. Furthermore, in order to enhance its consumer base, the company has efficiently been developing its home delivery options. To keep a pace with the rapid technological development, the company has also introduced online menus. Lowering the prices of its products and services, the company has been able to expand its competitive coverage. The global franchise option has also increased the potential advantages for the company. For example, with the launching of the mobile applications and online ordering by using the internet, the company has successfully posed a positive influence on the consumers. With advantageous market development opportunities, the company has also been strengthening its competitive advantages for the long run. Illustratively, it is with this particular objective that through the introduction of the flavored additives and pizza toppings, the company has increased its credibility in the market. This unique product options has also helped the company to differentiate its products in the market, variedly (Henry, 2010). Negatives With the increase in the tastes and preferences of the consumers, the sale of the product can be falling. Moreover, the company should be focusing on increasing its counter displays and enhancing its outlet facilities gradually. The company should also be modifying its menu compared to the other chain. The company’s ambience also needs to be developed, so that it can enjoy a better competitive position over its competitors. Operating in the international market, the company should be focusing on the consumer preferences about healthier food choices. Additionally, the company, in order to enhance its consumer base, should be incorporating the most preferred cuisines and develop their product base on a continuous basis. To maintain its competitive advantages, the company must be developing its displays in order to attract more customers. To increase the company’s selling advantages, the company should also be enhancing its visual displays so as to increase its level of customer satisfaction (Henry, 2010). The Other Physical to Buy the Product The unique smell of the Parmesan cheese and appearance of the outlets gives an added advantage to the consumers. Moreover, the different display of the products increases the urge to buy the product wherein the unique way of preparing the food also helps the consumers to increase the urge to buy the products from Domino’s. The different locations of the chair and ambience of the outlet further increase the craze to buy the product. Recommendations Domino’s has been floating well in regards to its products and services. Based on the analysis of the company, Domino’s can be observed as performing different strategies that has been quite beneficial in maintaining a competitive advantage in the market. As the main product has been selling well, the company has been successfully trading in the market through its diversified product range. Moreover, the company’s efficient marketing strategies have also been acting as an added advantage for its overall sustainable development. The company should also be increasing its culinary culture so as to increase its customer satisfaction by serving then as per their preferences. In order to increase the real time efficiency the company should however be focused on increasing its efficiency and be emphasizing the continuous development in its menu (Henry, 2010). Conclusion Domino’s has been developing its customer base by integrating continuous innovation in its marketing strategies. By increasing its marketing efficiency, the company has been developing its competitive edge over its competitors. Moreover, by implementing the 4Ps of marketing, the company has also been increasing its customer base in a consistent and sustainable manner. However, considering its current status, the company should also be observing the market in order to eliminate the currency exchange fluctuation. It is also important for Domino’s to keep developing its customer base by maintaining the overall product line according to the changing habits of the consumers. The company should also be opting for spacious outlets, so as to increase the customers’ choices to spend more time in these outlets. However, it has also been observed that the company has been developing its present product line quite efficiently and effectively. As was observed in the study, by efficiently developing its 4p’s, and other marketing strategies, the company has been successfully minimizing its threats and weaknesses. Accordingly, the company can also develop its strengths and utilize the opportunities prevailing in the external business environment to gain a competitive advantage. References Dominos IP Holder LLC. (2008). Corporate Profile. Retrieved from http://phx.corporate-ir.net/phoenix.zhtml?c=135383&p=irol-homeprofile Henry, J. (2010). Domino’s Pizza. International Business, 1-14. Waugaman, A. (2014). 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