Market Research and Business Strategies: Domino's Trading and Exchange

This report critically evaluates the significance of conducting thorough market research before formulating business strategies and policies, using Domino's as a prime example. The analysis emphasizes the need for organizations to deeply understand customer needs and demands, highlighting how Domino's leverages market research to optimize its service delivery, particularly through fast delivery and online ordering. The report details Domino's implementation of secret kitchens with advanced technology to deliver pizzas within minutes, addressing customer preferences for speed and convenience. Furthermore, it examines Domino's market segmentation strategies based on geographic, demographic, and psychographic factors to gather customer feedback, focusing on the crucial role of online delivery in boosting sales and enhancing customer satisfaction. The report also references key data points from Euromonitor International and market reviews to support its findings, underscoring the importance of maintaining product quality while also focusing on efficient delivery systems to maintain a competitive edge in the food industry. The report includes references to academic sources that support the business strategies of Domino's.

Running head: TRADING AND EXCHANGE
Trading and Exchange
Name of the Student
Name of the University
Author’s Note

1TRADING AND EXCHANGE
This very specific article has primarily focused to evaluate the importance of making
effective market research before forming business strategies and policies. Business organizations
have to make effective market research for getting in-depth overview about the needs and
demands of customers. However, as per the market research report of Domino’s the business
experts have focused on fast delivery of services. With the help of secret kitchen developed with
advanced technology, the service providers of Domino’s can deliver pizza within less than ten
minutes (Masiero and Nicolau 2012). As a result, the customers do not have to wait for a long
time in receiving the services. In addition, the customers can get an effective online delivery by
sitting at their own place.
According to Euromonitor International, $US114 billion customers of Domino’s are
ordered for delivery of food services (Cherney 2017). In 2011, the numbers of customers are
increased up to 45 percent. After collecting feedback from a large number of customers of
Domino’s it has been observed that online delivery plays one of the most significant roles for
drawing the attention of an individual. As per the report from market review 33 percent of the
sales of Domino’s take place due to the implementation of hoe delivery services.
Before making this particular business strategy Domino’s has made effective market
segmentation as per geographic, demographic and psychographic for gathering the opinion of
target group. After collecting necessary feedback from the customers’ it can be analyzed that
maintaining the quality of products is not the only concern for an organization. The business
experts have to focus on delivery of products as well. However, the executives decided to render
faster cooking oven by using the advancement of technology (Chen and Bell 2012). With the
help of this faster cooking oven, the service providers can deliver pizza within ten minutes along
with maintaining the superior product quality. All over Australia and New Zealand Domino’s has

2TRADING AND EXCHANGE
expanded their 750 stores constituted with advanced kitchen appliances, which is planned to
reach 1200 within 2025. Pizza Hut is considered as the second highest pizza operators of
Australia, which occupies 10% market share all over the country. Behind grabbing the attention
of customers from various geographical boundaries, the effect of quick delivery of services is
highly significant (Guo et al. 2013). After acquiring an in-depth knowledge and information
from market research, it can be stated that customers do not like to wait for a long time in order
to receive the services. In order to achieve business reputation and image in the food industry
organizations would have to know how to maintain a balance between demand and supply of the
product. Therefore, Domino’s has rendered the concept of fast delivery of products within
services.

3TRADING AND EXCHANGE
Reference List:
Chen, J. and Bell, P.C., 2012. Implementing market segmentation using full-refund and no-
refund customer returns policies in a dual-channel supply chain structure. International Journal
of Production Economics, 136(1), pp.56-66.
Cherney, M. 2017. Domino’s 10-minute pizza aim is the new company quest. The Australian.
Guo, X., Ling, L., Yang, C., Li, Z. and Liang, L., 2013. Optimal pricing strategy based on market
segmentation for service products using online reservation systems: An application to hotel
rooms. International Journal of Hospitality Management, 35, pp.274-281.
Masiero, L. and Nicolau, J.L., 2012. Tourism market segmentation based on price sensitivity:
Finding similar price preferences on tourism activities. Journal of Travel Research, 51(4),
pp.426-435.