ECON 550 Assignment 1

Topics: Goal, Household income in the United States, Pizza Hut Pages: 9 (2244 words) Published: December 4, 2013


Making Decisions Based on Demand and Forecasting
Tiara Jones
Strayer University
Dr. Mumeka
ECON 550
July 25, 2013

Introduction
In this assignment I will be discussing the consideration of Domino’s Pizza entering the market place in the Washington DC’s Georgetown community. I selected this area because it is highly populated with tourists that may want to grab a quick bite to eat while shopping and touring the area and the local upper class working singles that often don’t have time to cook after a long day at work. I have conducted research and gathered information forecasting the demand for this business based on population, household income and other pizza establishments in this area along with the average cost for pizza. Based on the research and demand analysis we should be able to determine if it would be in the best interest of the Domino’s Pizza Company to establish an operation in this community. Mission

Domino’s Pizza cares about its customers and the quality of its products (Domino’s Pizza, LLC). Therefore, our mission is to feel the void by establishing a Domino’s Pizza Company in an atmosphere where the supply is low and the demand is high. To serve delicious pizza in an outstanding atmosphere and to ensure that the community’s demand for pizza is not only met by providing day delivery and dine in services but to provide late night delivery and dine in services as well. It’s the company’s mission to sustain a competitive advantage over other pizza companies in the area and to expand the community’s population. In addition, Domino’s Pizza Company will strive to make a positive impact on the community by ensuring all services are prompt, friendly and professional and its employees by providing and maintaining a respectful, positive and professional work environment. Community

Georgetown is currently one of the oldest neighborhoods in Washington, DC and served as a major port and commercial center during the colonial times because of its prime location on the Potomac River. Today, Georgetown is a vibrant community with upscale shops, bars and restaurants along its cobblestone streets (Cooper, R). In addition, there are several hotels located within walking distance to the shopping, dining, entertainment and nightlife. The main streets of Georgetown are Wisconsin Ave and M Street which can be accessible by car or for metro rail riders via the DC Circulator bus from the Foggy Bottom, Rosslyn and DuPont Circle metro stations. The Foggy Bottom-GWU metro station, located on the blue and orange metro lines, is a short 15-minute walk from Georgetown. The Rosslyn and Virginia station, located on the blue and orange lines, is a short walk across the Key Bridge to Georgetown (Georgetown Business Improvement District, 2011). In Georgetown you can also find the main campus of Georgetown University where many students that attend the University choose to live or commute from other surrounding areas because of the expensive cost of living in the Georgetown area off campus. Due to the many shops, fine dining and other entertainment in the area, the income and cost of living is much higher more than your average neighborhood. Income and Population

The latest data gathered for the Georgetown area reports a population of 13,880 in which the majority are single upper class and high income individuals. According to the Zillow Real Estate Network, there are three main types of people that reside in this area. The first type is the Power Single which is considered high income urban singles. These singles are known to be highly educated professionals, many with advanced degrees. They draw a handsome salary and have reasonable living expense while living a hip, upscale life in an urban center. The Zillow Real Estate Network considers the second type of people Making It Single. Making It Singles are known to be upper scale urban singles. These singles are pre-middle-age to middle-age singles...

References: Cooper, Rachel (2013) About.com. Georgetown – A Washington, DC Neighborhood. Retrieved from: http://dc.about.com/od/neigborhoodprofiles/p/Georgetown.htm
Domino’s Pizza, LLC . Customer Service. “Domino’s Cares”. “n.d”. Retrieved 19 July 2013 from: https://order.dominos.com/en/pages/content/customer-service/faq.jsp
Georgetown Business Improvement District (2011). “Getting Here”. “n.d”. Retrieved 19 July 2013 from: http://www.georgetowndc.com/getting_here/
Joseph, Chris (2013) Demand Media. What Are Positive Impacts of Change In Business? Retrieved 24 July 2013 from: http://smallbusiness.chron.com/positive-impacts-change-business-559.html
Urbanspoon (2013). “Georgetown Pizza Places”. “n.d”. Retrieved 15 July 2013 from: http://www.urbanspoon.com/nf/7/626/643/DC/Georgetown/Pizza-Places
Yelp, Inc. (2013). “Pizza Georgetown, DC”. “n.d”. Retrieved 18 July 2013 from: http://www.yelp.com/search?find_desc=pizza+delivery&find_loc=Georgetown%2C+Washington%2C+DC#find_desc=pizza&l=p:DC:Washington::Georgetown
Zillow Real Estate Network. (2013). “Georgetown Demographics”. “n.d”. Retrieved 18 July 2013 from: http://www.zillow.com/local-info/DC-Washington/Georgetown-people/r_121729/
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