Making Decisions in the Pizza Business

Making Decisions in the Pizza Business
05/06/2017 Comments Off on Making Decisions in the Pizza Business Academic Papers on Business Studies,Sample Academic Papers admin

Business decisions are fraught with hazards and uncertainty. To minimize these risks and hazards, businessmen generally use forecasting to facilitate their decisions for opening up any business especially for consumer products.  This includes such details as the sustainability of the project, the profit making possibilities and anticipated factors which could be detrimental to their business and the competition they might have to face.  This and other viable factors help business people formulate strategies and make decisions. Forecasting requires important information collected and implemented at the right time. Without appropriate forecasting, it would be quite difficult and risky to run any business especially the pizza business.

The pizza business is a very aggressive, cutthroat, established and developed market. It is quite a diversified market with pizza makers ranging from local pizza makers to international franchises such as Pizza Hut and Dominos. However, with the current state of the economy, many companies have started using cheaper ingredients as well as having salads on the menu. With the Internet becoming increasingly affordable and popular and the extensive use of cell phones, the ordering pizzas of pizzas is fast changing several stores. In essence, it has to have the required population necessary to sustain the Pizza store.

One factor that the stores had to contend with included competition from other chain stores and small independent pizza stores and vendors. The main item of Dominos is Pizza and it has a large variety of 22 or more different varieties of pizza. In addition it serves sandwiches, pastas, different varieties of chicken, bread and cold drinks. Desert includes pies and different varieties of cake and pastries. Pizzas and other fast food items are quite popular in America and the chances of success of one more pizza store is quite good.

Dominos is a well known brand in the States, in fact all over the world and its quality and prices are quite acceptable to its consumers. A pizza from Dominos is priced according to the size of the pizza and the ingredients and toppings that are you want. Sometimes prices also depend upon where you live. A pizza usually costs $5 and increases in price as per size and ingredients. Since it is not easy to come up with exact estimates for establishing or the probabilities for its success, companies use demand estimation and forecasting to assess the practicality of opening up a new business or branch before they actually invest money in opening a new store.

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