Intro to Business Essay

immunity Case Study Questions1) cover the benefits and drawbacks of opening a exemption. (6 marks) The benefits of opening a franchise is that the franchisor would provide support, assistance and training they would have a recognised name and products and opening the franchise would be a reduced happen to the franchisee.The drawbacks of opening a franchise is that there would be restrictions on operations as the franchisee would have to follow the franchisors rules and regulations must pay franchise fees and the percentage of sales to the franchisor and there would be a loss of foc utilise control, prices, wages or even innovation.2) Evaluate the benefits and drawbacks of trial this franchise with a quisling rather than doing it on your own.The benefits/advantages of running this franchise with a partner would be It would be fairly easy to start the partnership with an concord between cardinal people It would be easier to raise more(prenominal) bang-up than a sole propriet orship We would have greater skills and expertise with two of us as partners and flexibility to support and help each other.The drawbacks/disadvantages of running this franchise with a partner would be there could be conflicts or disagreements with a partner we would be sharing the profits and there could be difficulty in leaving or ending the partnership.3) List 6 key characteristics that you and your partner lead have to display in high society to be successful in this entrepreneur exploit.The key characteristics that my partner and I would have to display to be successful in our entrepreneur endeavor would be, to be Ambitious, committed, self-confident, energetic, passionate, creative, passionate,determined and risk takers.4) List 6 stakeholders and discuss how they be impacted by your business.1.Employees my business would create jobsCustomers my business would be a convenience of another franchise available Suppliers my business would give suppliers more business Governm ent my business would pay taxes (business and employee, etc) to help the economy local anaesthetic Community to create a better local economy of having a business Environment to be environmentally responsible by using reduce, re mapping and recycleFRANCHISE Case Study 1 foundation to Business5) Using your knowledge of posit and supply theory. Draw a market for Dominos pizza pie with demand (BLUE Line) and supply (RED Line) equilibrium assumptive the average price customer pays for a Dominos pizza pie is $9 and sells an average 500 units a week. (2 marks) Dominos Pizza render and Demand in One (1) WeekUNITSThe pizza market is exceedingly competitive and competitors prices impact and demand. On your diagram, draw the shift in demand that will result from new low price $5 luscious and ready pizza offer by its competitor Little Caesars. Discuss the impact on Dominos (in terms of its price and profits) . (2 marks) collect to the low price of the competition (Little Caesars) means Dominos pizzas Demand Curve will DECREASE (GREEN Line) which means the profits will decrease along with the demand for Dominos higher priced pizza.6) As a local franchise, using your knowledge of the promotional mix, describe 4 tactics/strategies from the promotional mix that you could use to promote your local store. Be sure to explain how it will increase sales. (4 marks)1. Personal Selling to use a sales person to assist customers in making a purchase 2. Advertising using different media channels to build awareness of the product 3. Public Relations to create a good anatomy of the company & product through publicity and sponsorship4. Sales Promotion to induce sales through coupons, discounts, contests & peculiar(prenominal) offers7) Make 2 recommendations to Dominos Pizza Corporate on how the marketing mix could be changed in order to meet customer needs and continue to grow the company. (4 marks) The merchandising Mix is a blend of product offering, pricing, promo tional methods and distribution transcription that brings a specific group of consumers superior value.My two recommendations to Dominos Pizza Corporate would be concerning the Product to make smaller personal coat pizzas and my second recommendation would concern Pricing to have a special introductory low price to attract customers, to the new personal surface pizza. My recommendations would meet the more good for you(p) = smaller sized portions of food to the healthy minded customer and this would help with the growth of the company.