'Intro to Business Essay\r'

' franchise human face Study Questions:\r\n1) establish the benefits and drawbacks of initiation a franchise. (6 marks) The benefits of open a franchise is that the franchisor would provide retain, assistance and teaching; they would have a recognized name and products and; opening the franchise would be a reduced endangerment to the franchisee.\r\nThe drawbacks of opening a franchise is that there would be restrictions on operations as the franchisee would have to delineate the franchisor’s rules and regulations; must wages franchise fees and the component of sales to the franchisor and; there would be a detriment of management control, values, wages or even innovation.\r\n2) prise the benefits and drawbacks of running this franchise with a render instead than doing it on your own.\r\nThe benefits/advantages of running this franchise with a partner would be; It would be fairly easy to pelf the partnership with an agreement between two spate; It would be easie r to raise more capital than a sole proprietorship; We would have greater skills and expertness with two of us as partners and; flexibility to support and economic aid each other.\r\nThe 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 remuneration and; there could be difficulty in leave or ending the partnership.\r\n3) List 6 bring up characteristics that you and your partner result have to queer in order to be successful in this enterpriser purpose.\r\nThe 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,\r\ndetermined and risk takers.\r\n4) List 6 stakeholders and discuss how they are impacted by your affair.\r\n1.Employees †my business would lay down jobs\r\nCustomers †my business would be a dev isal of another franchise available Suppliers †my business would give way suppliers more business Government †my business would pay taxes (business and employee, etc) to help the economy Local Community †to create a better topical anaesthetic economy of having a business Environment †to be environmentally amenable by using reduce, reuse and recycle\r\nFRANCHISE Case Study 1: Intro to moving in\r\n5) Using your knowledge of exact and supply theory. draw away a market for dominos Pizza with demand (BLUE Line) and supply (RED Line) equilibrium assuming the average price customer pays for a half mask’s pizza pie pie is $9 and sells an average 500 units a week. (2 marks) half masks Pizza †Supply and imply in maven (1) Week\r\nUNITS\r\nThe pizza market is highly rivalrous and competitors prices impact and demand. On your diagram, draw the shift in demand that will result from new embarrassed price $5 hot and ready pizza offer by its competitor Little Caesar’s. Discuss the impact on Domino’s (in hurt of its price and wage) . (2 marks) Due to the depressive disorder price of the tilt (Little Caesars) means Dominos pizza’s Demand Curve will DECREASE (GREEN Line) which means the profits will decrease along with the demand for Domino’s higher priced pizza.\r\n6) As a local franchise, using your knowledge of the promotional mix, describe 4 tactics/strategies from the promotional mix that you could use to recruit your local store. Be sure to explain how it will increase sales. (4 marks)\r\n1. Personal Selling †to use a sales person to assist customers in fashioning a purchase 2. Advertising †using contrastive media channels to build awareness of the product 3. habitual Relations †to create a good reckon of the company & product done promotional material and sponsorship\r\n4. Sales Promotion †to stimulate sales through coupons, discounts, contests & special offer s\r\n7) Make 2 recommendations to Domino’s Pizza unified on how the marketing mix could be changed in order to examine customer needs and continue to grow the company. (4 marks) The marketing Mix is a blend of product offering, pricing, promotional methods and distribution system that brings a specific sort out of consumers superior value.\r\nMy two recommendations to Dominos Pizza Corporate would be concerning the ‘Product’ to make smaller individual(prenominal) coat pizzas and my second recommendation would concern ‘price’ to have a special introductory low price to attract customers, to the new personal coat pizza. My recommendations would meet the more ‘healthy = smaller sized portions’ of food to the healthy minded customer †and this would help with the growth of the company.\r\n'