Pizza Hut Report Correction1 Essay Example for Free

Pizza Hut Report Correction1 Essay Pizza Hut, Inc. is the largest pizza restaurant in the world in terms of both the number of outlets and the percentage of market share it holds. On June 15th, 1958, two brothers Dan and Frank Carney opened the first Pizza Hut restaurant in Wichita, Kansas. A friend suggested to them that they should open a pizza palor, the brothers agreed that the idea could prove successful. The Carney brothers borrowed $600 from their mother to start the business with friend John Bender. Renting a small building in downtown Wichita and purchasing second hand equipment to make pizzaz, the Carneys and Bender opened the first Pizza Hut restaurant. On the opening night of the restaurant, they gave pizza away to encourage community interest. Pizza Hut, Inc. oversees more than 11,000 pizza restaurants and delivery outlets in 90 countries, for example, Trinidad and Tobago, worldwide. A Pizza Hut restaurant is characterized by a particular freestanding design with a prominent red roof. The restaurants are full-service, eat- in/carryout with about 60-90 seatings, open from 11 a. m. to midnight. Pizza Hut delivers pizzas, pasta and wings. They were not only the first to provide America with Pan Pizza, but they were also the first ever online purchase. SID: 1517851/1 Mission Statement Pizza Hut, Inc. mission statement is: We take pride in making a perfect pizza and providing courteous and helpful service on time all the time. Every customer says, â€Å"I’ll be back! † Another part of Pizza Hut, Inc. mission statement is: We are accountable for profitability in everything we do, providing our shareholders with value growth. Pizza Hut core values goes by the acronym P. E. A. R. L. S PASSION for excellence in doing everything EXECUTE with positive energy and need ACCOUNTABLE for growth in customer satisfaction RECOGNIZE the achievement of others and have fun doing it LISTEN and more importantly, respond to the voice of the customer. SID: 1517851/1 Financial Summary SID: 1517851/1 Marketing Mix 7 P’s Product ? Pizza Hut only sells pizzas but deals in a variety of other products such as appetizers, beverages, desserts, pastas ?Pizza Hut mainly sells four types of pizzas with three sizes, namely small, regular and large. Those are Pan pizzas, Sausage crust pizzas, stuffed crust pizzas, thin crust pizzas. Price ? Pizza Hut follows a high/low pricing (â€Å"Price Skimming†) strategy. Thing high/low strategy has several advantages for Pizza Hut such as: ?Use to create excitement SID: 1517851/1? Set high price initially to send a signal that its products are best in quality and service offered in excellent. ?In competition either from pizza players or from substitutes, Pizza Hut has also reduced price by maintaining the same level of customer service and quality. Promotion ? Media advertising ?Sales promotion ?Special events and experiences ?Public relations ?Coupons ?Discount Process ? The customers are invited to check the ingredients used. ? Delivery on time or free next time ?Take away refined carryout procedures to provide faster, more efficient service rapidly expanded the delivery operations throughout the country implementing combination operations Place ? Pizza Hut’s first method of distribution is delivery. ?Offers dine-in ?Online ordering ?Largest competitive advantages is the restaurant style facility SID: 1517851/1 People ? Pizza Hut have a standard uniform for their employees ?Employees are well trained ?They maintain the customer and employee relationship in good manner. Deliver consistent standards of hospitality. ?They always appear well groomed Physical Evidence ? Pizza Hut focuses on neat and clean environment ?The staff believes that they are providing the superior quality to their every customer ? They have a pleasing environment ?Nice interior decorations which looks rich SID: 1517851/1 Marketing Mix Summary Pizza Hut, Inc. mainly sells Pan pizzas, stuffed crust pizzas, sausage crust pizza, thin crust pizzas. They follow a â€Å"high/low pricing† strategy as far as its new product are concerned where it fixes the price higher than its competitors and then gradually lowers the price below the competitor’s prices. Pizza Hut offers dine-in and also delivery, their employees are well trained and well groomed. The food manufacturing process at the restaurant is completely transparent. Pizza Hut focuses on neat and clean environment. They promote their business through advertising, human relations et chetera. SID: 1517851/1 Market Analysis Suppliers – Some of Pizza Hut’s suppliers in Trinidad are Arawak, Flour Mills, Coca- Cola, SOLO and Blue Waters. Public – The bank, employees, media governments and T. V has a big impact on the company due to the storing of their money, getting workers to get the job done and advertising. Intermedians – There are no intermedians for this company. Customers – Competitors – Pizza Hut’s competitors in Trinidad are Dominos, Marios, Pizza Boys, Joe’s Pizza and Papa John’s. The market share in the pizza business is very high due to the amount of brand name pizzas, therefore if you want to go into the pizza business, I suggest you go under one of the brand name companies. SID: 1517851/1 PESTLE Political – Political issues may affect the business in different ways. There are political factors in Trinidad affecting Pizza Hut due to competition. Factors such as laws on business employment, taxation and pollution apply on the organization which it has to follow regarding the rules. Environmental There are no laws that are really affecting the company environmental wise, However, the company must contribute to the community in some way. Socio-Cultural – Every country has cultural norms, values, beliefs and religion which can affect the organization. Technology – Today’s techonology is improving. Due to new technology the company is able to bake and heat products faster which provides efficient service. There are also new ways of marketing for instance, internet; telemarketing and the organization can advertise their products with much more faster pace. Management Information System helps in collecting customer data, daily transactions and forecasting. Legal – Due to daily operations, the laws are not affecting this business in any way. Economic – Once the country’s GDP (Gross Domestic Product) is high, this will be a great signal for the business as the per capita income of the people will be increased SID: 1517851/1 and they will spend more money. In Trinidad and Tobago the GDP is high which is a great signal for this organization. Reference List SID: 1517851/1 https://order. pizzahut. com/home? http://www. slideshare. net/deepankarverma73/pizza-hutreport related=1 SID: 1517851/1 SID: 1517851/1 Module Title: Marketing Essentials Module Code: Due Date: Thursday 16th, April 2015 Word Count: 1000.