Connect with us

Stories

How Domino’s Pizza Grew 13000% From 2008 To 2020

Published

on

How Domino’s Pizza Grew 13000% From 2008 To 2020, Startup Stories,Latest Startup Business News,Domino’s Pizza,Domino's Pizza Earnings,Pizza Market,Domino's CEO,Pizza Hut,Domino's CEO Patrick Doyle, domino's pizza business strategy, domino's pizza history

Pizza is an emotion and is a food which is known all over the world.  A good pizza could often leave an eater speechless and is one food which could be purchased anywhere in the world.  The fame of Pizza and it’s easy availability throughout the world could be attributed in part to the global pizza chains Domino’s Pizza and Pizza Hut.  It is quite easy to find these pizza outlets in multiple localities in any metropolitan and cosmopolitan cities.  While Domino’s Pizza is now a world famous outlet, raking in a lot of revenue owing to its multiple product offerings, it was not always the case.  At one point in time, Domino’s Pizza was struggling to stay afloat due to failing investor confidence in 2008, which is four years after the pizza chain applied for an initial public offering.  

Domino’s Pizza shares were $2.83/share in 2008 and grew to $367/share in 2020.  This is a whopping margin of 13,000 % growth and the way Domino’s Pizza achieved it is a story for the ages and business school case studies.  Keep reading to find out how Domino’s Pizza managed this fairytale turnaround.

Domino’s Pizza was founded in 1960 by 23 year old Tom Monaghan who dedicated his entire focus on reducing delivery time, reducing cooking time and increasing distribution.  Monaghan’s emphasis on speed and service led to groundbreaking growth with which competitors found it hard to compete.  The ‘30 Minutes or It’s Free’ slogan guarantee, only cemented their place in the hearts of the hungry people everywhere.  

In 2004, Domino’s Pizza applied for an IPO and by 2008 , they scaled to a multi billion dollar business.  But, prospects were looking dim in 2008 even after applying for an IPO because growth had stalled, competitive threats from Pizza Hut and a $ 1 billion dollar debt on Domino’s’ balance sheets.

ALSO READ: How KhataBook Grew From Simple SMS App To Leading FinTech App In India

Domino’s Pizza did a focus group analysis and found out they were good at everything else except pizza.  The focus groups found Domino’s pizza tasted like cardboard, totally devoid of flavour and the sauce tasted just like ketchup.  This was due to a number of trade offs which were made in the name of speed like canned and frozen ingredients.  

Patrick Doyle, the then CEO of Domino’s Pizza leaned into the feedback and launched an ad campaign which said “Our Pizza Sucks” and promised to go back to the drawing board to work on the criticism from the focus groups.  The culinary team had to reinvent their pizza and had to build it from scratch.  The culinary team ended up testing more than 7500 combinations.  Many on the executive team at that time were in fear of failure.  There was a fear of the testing leading to even larger problems and a chance of losing the advantage of speedy delivery.  

Doyle had to break through the loss aversion barrier which means the mindset of playing not to lose rather than playing to win.  Doyle would say “The pain of loss is double the pleasure of winning (sic,)” meaning even he advised caution during situations which demand creativity.  The reinvention paid off as customers loved every new recipe launched by Domino’s Pizza and an example would be the pan pizza which was released in 2012 and is still in circulation.  Doyle’s reinvention showed customers that Domino’s Pizza cared about their feedback.  Following the success of their newly reinvented pizza, Domino’s Pizza focused on improving distribution channels and delivery technology.  Since then, there has been no stopping Domino’s Pizza, and their share price in 2020 only serves to show the trust their customers have on them.

feaWe hope this article has awakened a craving for a Domino’s PIzza in you.  Do let us know in the comments if there are any similar growth stories you know off and we would be glad to cover them on Startup Stories.

 

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Entrepreneur Stories

Flipkart Partners with NCERT to Boost Textbook Accessibility

Published

on

Flipkart-Partners-with-NCERT-for-textbook-acceccibility

Flipkart has joined hands with the National Council of Educational Research and Training (NCERT) to enhance the accessibility of NCERT textbooks for students across India, particularly those in Tier 2 and Tier 3 cities. This strategic partnership aims to bridge the gap in access to quality education by leveraging Flipkart’s extensive reach and logistics network.

Key Benefits of the Partnership

  • Enhanced Accessibility: With this collaboration, students in remote areas can now order NCERT textbooks online and have them delivered directly to their doorstep. This initiative is particularly beneficial for families in regions where physical bookstores may be limited or non-existent.
  • Affordability: Flipkart’s platform will offer competitive prices on NCERT textbooks, making them more affordable for students and parents. Discounts and promotions may also be available, further reducing the financial burden on families.
  • Convenience: The partnership provides a seamless online shopping experience for parents and students alike. With an easy-to-navigate platform, users can quickly find and purchase the textbooks they need without the hassle of traveling to physical stores.

Alignment with Government Initiatives

This initiative aligns with the Indian government’s vision of promoting digital learning and making education more inclusive. By providing easy access to essential textbooks, Flipkart and NCERT are working together to empower students and contribute to the nation’s educational growth. This partnership supports the government’s broader goals of enhancing educational resources through technology and ensuring that quality learning materials are available to all students, regardless of their location.

Additional Context

The partnership comes at a time when there is a growing emphasis on digital education in India, especially following the disruptions caused by the COVID-19 pandemic. The shift towards online learning has highlighted the need for accessible educational resources. By collaborating with NCERT, Flipkart is not only expanding its product offerings but also playing a vital role in supporting educational equity across the country.

Authorized Sellers

Flipkart will work with authorized sellers designated by NCERT to ensure that students can easily purchase authentic NCERT textbooks through its platform. This collaboration guarantees that all textbooks are genuine and meet the quality standards set by NCERT.

Conclusion

The partnership between Flipkart and NCERT represents a significant step towards improving textbook accessibility for students in India. By leveraging technology and e-commerce capabilities, this collaboration aims to make quality educational resources more widely available, particularly in underserved regions. As both organizations work together to enhance educational outcomes, they are contributing to a more equitable learning environment that empowers students across the nation.

Continue Reading

Emerging Startup Stories

WhatsApp’s Bharat Yatra: Empowering Small Businesses Across India!

Published

on

WhatsApp's Bharat Yatra: Empowering Small Businesses Across India!

WhatsApp has embarked on a nationwide initiative called Bharat Yatra to empower small and medium businesses (SMBs) across India. This innovative mobile bus tour aims to provide hands-on training and support to help businesses leverage the power of digital technology, particularly through the WhatsApp Business app.

Key Focus Areas

  • Digital Skill Enhancement: The Bharat Yatra program is designed to equip SMBs with essential digital skills necessary to thrive in the digital age. This includes training on how to effectively navigate the digital landscape and utilize online tools for business growth.
  • WhatsApp Business App Training: Participants will learn how to use the WhatsApp Business app to connect with customers, share product catalogs, and manage inquiries efficiently. This training is crucial for businesses looking to enhance customer engagement and streamline communication.
  • Latest Features and Updates: The tour will highlight the latest features of WhatsApp Business, including Meta Verified, which enhances business credibility, and custom messaging options that allow for personalized communication with customers.
  • AI Integration: Businesses will also be introduced to the potential of Meta AI integration, which can streamline customer engagement processes and boost overall productivity. This aspect of the training aims to familiarize SMBs with advanced tools that can enhance their operational efficiency.

Tour Details

The Bharat Yatra will kick off its journey in Delhi-NCR, visiting bustling markets such as Laxmi Nagar, Rajouri Garden, and Nehru Place. Over the coming months, the bus will cover key business hubs in cities like Gurugram, Noida, Agra, Lucknow, Indore, Ahmedabad, and others. Each stop will feature interactive demos, expert guidance, and personalized support tailored to the unique needs of local businesses.

Impact on the Indian Economy

By engaging directly with businesses across major cities, WhatsApp aims to create a tangible impact on the Indian economy. The initiative aligns with WhatsApp’s broader goal of supporting small businesses and fostering digital growth in India. According to Ravi Garg, Director of Business Messaging at Meta India, “Small businesses are the backbone of India’s economy, and with the right digital tools, they have the power to supercharge the country’s digital transformation.”

Conclusion

As the Bharat Yatra continues its journey across India, it is expected to empower thousands of SMBs, contributing significantly to India’s economic development and digital transformation. By providing essential training and resources, WhatsApp is not only enhancing business capabilities but also reinforcing its commitment to fostering a robust small business ecosystem in India. This initiative builds on previous efforts such as WhatsApp Se Vyapaar, which aimed to upskill millions of traders, further demonstrating WhatsApp’s dedication to supporting India’s entrepreneurial landscape.

Continue Reading

Entrepreneur Stories

OpenAI Expands ChatGPT Advanced Voice Mode to Web Users!

Published

on

OpenAI Expands ChatGPT Advanced Voice Mode to Web Users!

OpenAI has introduced its Advanced Voice mode for ChatGPT on the web, extending the feature that was previously available only on iOS and Android apps. This announcement, made via a post on X (formerly Twitter), signifies a significant expansion of the conversational capabilities of ChatGPT to desktop users.

Enhancing User Interaction

The Advanced Voice mode aims to make interactions with ChatGPT more natural and conversational. The feature is being rolled out this week to subscribers of ChatGPT Plus, Enterprise, Teams, and Edu. Free-tier users will have to wait a few weeks to access the feature as part of a limited monthly preview.

How to Use Advanced Voice Mode on the Web

Activating the voice feature on the web is straightforward. Users simply need to click the Voice icon in the prompt window’s bottom-right corner and grant their browser permission to access their microphone. Once activated, a blue orb at the center of the screen indicates that voice chat is active.

The voice feature offers nine output voices with unique tones and personalities. OpenAI has introduced five new voices—Arbor, Maple, Sol, Spruce, and Vale—in addition to existing options like Breeze, Juniper, Cove, and Ember. These voices are designed to create a lifelike and engaging dialogue experience, each with distinct emotional tones and the ability to emphasize certain words for more natural interaction.

For instance:

  • Arbor is described as “easygoing and versatile.”
  • Ember conveys a “confident and optimistic” tone.

This nature-inspired naming reflects OpenAI’s focus on making AI interactions feel smoother and more relatable.

Usage Limits for Subscribers

While paying users gain early access to this feature, there are daily usage limits in place. Plus and Teams subscribers will receive notifications when they have 15 minutes of voice usage left for the day. Free users will receive limited monthly access to test the feature.

Kevin Weil, OpenAI’s Chief Product Officer, noted that these measures are necessary to manage resource availability as the feature scales up.

A Controversial Missing Voice

One notable absence is the previously available “Sky” voice, which was removed following legal and ethical controversies. Critics alleged that Sky bore a striking resemblance to Hollywood actress Scarlett Johansson’s voice, leading to backlash and a lawsuit against OpenAI. Johansson’s legal representatives claimed that the company lacked permission to use a voice that closely mimicked her own. In response, OpenAI suspended this feature in May 2024.

OpenAI stated that any resemblance was unintentional, but internal comments referencing the film Her, where Johansson voiced an AI assistant, added fuel to the controversy. The company has since refrained from including voices that could lead to similar disputes.

What’s Next for Advanced Voice Mode

With this introduction of Advanced Voice mode on the web, OpenAI is taking another step toward making AI interactions feel more personal and accessible. The feature promises to transform user experiences by combining natural dialogue capabilities with versatile voice options.

As the rollout continues, OpenAI is expected to refine this feature further, eventually extending it to all ChatGPT users while addressing concerns around voice replication and ethical usage.

Future Enhancements

OpenAI plans ongoing improvements based on user feedback and technological advancements. The goal is not only to enhance user experience but also to ensure compliance with legal standards regarding voice replication.

In summary, with Advanced Voice mode now available on web platforms, OpenAI reinforces its commitment to creating engaging AI experiences that cater to diverse user preferences while navigating complex ethical landscapes associated with voice technology.

Continue Reading
Advertisement

Recent Posts

Advertisement