Making Decisions Based on Demand and Forecasting Essay Example for Free

Making Decisions Based on Demand and Forecasting Essay 1.Report the demographic and independent variables that are relevant to complete a demand analysis providing a rationale for the selection of the variables. (Independent variables are the variables that have effect on the demand of Pizza). List 5 and explain the effect of each of them on the demand of Domino’s Pizza. I currently reside in Allentown, Pennsylvania, which has a current population, based off of the 2010 Census data, of 118,032 people. The large amount of people that reside in the 18 square mile city, which is the third largest in the state, allows for huge competition amongst the local chain and privately owned pizza restaurants. Within the city limits of Allentown, Pennsylvania, there are 3 Domino’s pizza restaurants within 13.2 miles of each other. The average median income per household is $49,025 and $37,356 per family. This can affect the demand of pizza based on the price of the pizzas being sold. The lower the income of a family is, the lesser the chances they will purchase take-out or fast food. Typically, families that are on a fixed or smaller income will live on a budget and normally that does not include the luxury of eating out. Looking at the price of various Domino’s Pizza, Pizza Hut and various local pizza restaurants, the average cost of a large, plain cheese pizza pie is $10.42. While this may be a good price to some, families with a higher number of members may not be willing to pay $10+ per pizza due to the fact that they most likely have to purchase in multiple quantities. 15 percent of the Allentown, Pennsylvania population get around by means of transportation other than a car, therefore a pizza restaurant offering delivery services will be a benefit to those not able to pick their pizza up. The local average fee for pizza delivery is $2.00, based off of two of the large chain pizza restaurants delivery fees. The local privately owned pizza restaurants do not charge a delivery fee, which is a greater demand for those residents looking to spend the least amount of money on their pizza lunch or dinner. Many pizza restaurants offer various pizza order specials, such as 2 large plain pies for $19.99. While that is a great offer, the larger chain pizza restaurants such as Domino’s and Pizza Hut offer various specials like a large pizza for 8.00 or a large 3-topping pizza for $7.99. The only disadvantage of these specials is that the pizzas vary in their large size from restaurant to restaurant. 2.Find the price elasticity of demand for Pizza online. Is it elastic, unit elastic, or inelastic? Explain how the price elasticity of demand can affect your decision to open the pizza store and your pricing policies? Price elasticity of demand is defined as â€Å"the ratio of the percentage change in quantity demanded to the percentage change in price, assuming that all other factors influencing demand remain unchanged† (McGuigan, 2011, pg. 70). With the average cost of pizza in Allentown, Pennsylvania being $10.42, it is still a very high demand product. If the price of pizza were to go up, the demand for pizza may drop slightly, making the demand in price insensitive. There are certain determinants that will affect the price elasticity such as disposable income and the prices of competitors’ products these cannot be controlled by the firm. Determinants that can affect the price elasticity of pizza that can be controlled by the firm are price, advertising, product qua lity and customer service (McGuigan, 2011, p. 69). The price elasticity demand for pizza is and will most likely always be inelastic, because even though the cost of the ingredients to make pizzas may increase and decrease, pizza is a very popular product and will always be in high demand. Being a part of the Domino’s Pizza franchise, offering the various weekly and monthly specials will guarantee that the demand for pizza will not decline by a huge rate should the need to increase pricing arises. This will not affect my decision to open a Domino’s Pizza franchise, I am confident that the demand for pizza will only slightly decrease if economic reasons forces pricing to rise. My pricing policies will always be in line with Domino’s corporate structure, therefore being able to offer special deals on pizzas will counter balance the rise on individual pizza pies. 3.Explain the cross price elasticity. List 3 goods that you consider substitute to pizza in your area. How do they affect your decisions? (opening the store and pricing policy) Cross price elasticity is defined as â€Å"the ratio of the percentage change in the quantity demanded of Good A to the percentage change in the price of Good B, assuming that all other factors influencing demand remain unchanged† (McGuigan et al, 2011, pg. 87). If the price of pizza’s rises and the demand decreases by a certain percentage then this causes the need for pizza boxes will decline. This will be considered a negative cross price elasticity, and the two goods are complementary. On the other hand, if the price of pizza increases, and the demand for an alternative product increases, then this is considered substitutes, and the cross price elasticity is positive. Some substitutes for pizza in the event the price rises could be Subway sandwich platters, KFC family bucket meals, and Chinese food platters. Families buy pizza because of the large quantity for a cheap price, but if the prices were to increase, then these same families may look for similar alternatives that will not empty their wallets. These are possible alternatives that offer a large quantity of food at a reasonable price that can affect the demand of pizza. However, monitoring the costs of the competing fast food restaurants in the Allentown, Pennsylvania area will allow Domino’s to offer certain specials and pizza deals to the community that can keep their demand at a high rate. 4.Explain how you will forecast the demand for pizza in your community for the next four (4) months, using the regression equation including the assumptions that were used. Justify the assumptions made related to the forecast. 5.Based on the forecasting demand, price elasticity, and cross price elasticity discuss whether Dominos should establish a restaurant in your community. Provide a rationale and support for the decision. Establishing another Domino’s Pizza restaurant in the Allentown, Pennsylvania area will be a good idea because there is a true demand for pizzas. Referring to the price elasticity and the cross price elasticity, the positive outweighs the negative sides of supply and demand. Whether or not the price of pizzas goes up, the demand will always be sufficient enough to warrant the decision to open up a new restaurant. The price elasticity is inelastic because if and when the price of pizza increases, the demand for it will not be greatly affected. Domino’s Pizza’s financials for first quarter 2013 were released and the pizza giant had revenues up 8.6% from Q1 2012, and their net income was up 65.9% for the same period in 2012 (Dominos.com, 2013). This proves that even during the decline in the economy, the demand for pizza stays at the top. Domino’s Pizza sells more than one million pizzas daily, it is safe to assume that opening a new Domino’s in the Allentown area will not be a bad decision.

German Nazism vs. Italian Fascism Essay -- Papers Nazi Fascism Compare

German Nazism vs. Italian Fascism Fascism and Nazism were two different political groups taken place in two different locations. Nazism was evolved in Germany which were the people that mainly were against Judaism. As for fascism, it took place in Italy and focused mainly on a system of government that was under a dictator, or a ruler who had absolute power. Both these groups had similariteis as well as differences in which will soon be understood. Benito Mussolini which was born in 1883 and died in 1945. He came to power with his new ideas in 1919, called Fascio di Combat, which is also known as Fascism. To understand Fascism better, it is basically a spiritual attitude. It sees not only the individual but also the nation and the country. Individuals and generations are bound together by a moral law. Adolf Hitler and his national socialist state influenced Mussolini. In time, Mussolini became the victim of his own propaganda efforts. He dreamed of wars of conquest, but these wars that were far beyond the industrial capacity of the state to maintain. Mussolini came to involved the state in wars of colonial conquest, which was probably the last of the great imperialistic wars of Europe. In 1938 a change was made in the Italian government which separated the people from the decision-making process entirely. The list of parliamentary candidates was no longer offered to the masses for their approval. Mussolini merely emulated Hitler by creating the totalitarian state while removing basic democracy. After Mussolini's fall from power and his heroic rescue by German paratroopers, it was created under the watchful protection of nazi troops. There was, however, time remained to develop a theory. Mussolini was wholly ... ...hen Germany becomes a dictatorship ruled by Hitler and the Nazi Party. It was also the begging of total chaos, such as several revolutions and world War II. There were many revolts like the Kristallnacht, which was a destructive rampage against the Jews. The Jews were drastically restricted and leaving Germany was each time becoming more difficult. In time the Nazis Parteis and Adolph Hitler killed many Jews, more than 30 thousand. Even though World War II was later finished by an agreement, it took many lives away. As for the fascist parties, they were not as gruesome as Nazism, even if one influenced the other. Although both were beliefs, which involved later in to something much greater and catastrophic, they were only people fighting for what they believed were right. But the problem was it effected on innocent's people's lives, and that is not tolerable.

Wireless and Fundamental Changes

Exhibit 1. 4 highlights the marketing implications of Internet technologies in the following categories: Bits not atoms, Mediating technology, Global reach, Network externality, Time moderator, Information equalizer, Scalable capacity, Open Standard, Market deconstruct, and Task Automation. What fundamental changes has the Internet brought to marketing? The balance of power is shifting to buyers—one of the most fundamental changes to marketing. Marketers have practically lost control of brand images due to blogs, online bulletin boards, and other online communication, and must consistently underpromise and overdeliver. Other changes: Market fragmentation. The Internet put finality to this trend by extending to its ultimate—a market size of one customer—and prompted marketers to create products and communication to small target groups. Death of distance. Geographic location is no longer a factor when collaborating with business partners, supply chain firms, or customers, or just chatting with friends. Time compression. Time is not a factor with Internet communication between firms and their stakeholders. Online stores can be open 24/7; people can communicate as their schedules permit; times zones disappear for managers collaborating with partners on other continents. Critical knowledge management. In the digital world, customer information is easy and inexpensive to gather, store, and analyze. Managers can track marketing results as plans are implemented, receiving play-by-play reports. However, turning huge databases into meaningful knowledge to guide strategic decisions is a major challenge. Interdisciplinary focus. Marketers must understand technology to harness its power. They do not have to personally develop the technologies, but they need to know enough to select appropriate suppliers and direct technology professionals. Intellectual capital rules. Imagination, creativity, and entrepreneurship are more important resources than financial capital. The internet properties that affect marketing are the web itself. The web allows information to travel faster throughout the whole world. Secondly, the existence of email contributes to a more efficient way of communication. Email also has sparked the ideas for another internet revolution, the social networks. A social network is based on Web 2. 0 where the web allows interactivity within the internet users community. The existence of social networks such as Facebook and Twitter keeps people online more often than before. Another example of internet properties that affect marketing is through blogs. There was a saying; â€Å"pen is sharper than sword†. With blogs, internet users are allowed to express their opinions and discussions worldwide. The wiki pages such as Wikipedia are places where people share knowledge about everything, including brands and other marketing related topics. With these internet properties, there are a few fundamental changes the internet has brought to marketing. Firstly, it changes the power shift from sellers to buyers. Consumers have the ability to share and review the products online where good products will be praised and inferior products will be critiqued everywhere through word of mouth or some would call it word of â€Å"mouse† (WOM). It is also through this process that consumers trust each other more than they trust the companies. This issue can be measured by the success of EBay in the online market where second-hand and unexpected products will be marketed in the website. One could get an item from EBay where no other can find such as unique products. The other big change to marketing approach due to internet is the market and media fragmentation. Before the existence of internet marketing, the brands will go through a series of supply chain before reaching to the†¦ What concerns about consumer privacy are raised by the increased use of wireless computing and handheld devices outside the home or workplace? here wireless devices can contain their financial and private information and those signals can be intercepted and other people can obtain information. 12. What concerns about consumer privacy are raised by the increased use of   wireless computing and handheld devices outside the home or workplace? The rapid proliferation of wireless networks outside the home and work place has resulted in increase d concern over privacy. In the digital context, privacy refers to two things: the â€Å"right to be left alone,† and the right to keep one’s personal information private (see chapter 5). With regard to wireless computing, one big concern is text message Spamming. As marketers gain access to cell phone numbers and even cell phone directories, many fear that unscrupulous marketers will overwhelm consumers with voice and text messages. Another concern is that people can intercept wireless transmissions, thus gaining access to personal information sent from PCs and other devices over wireless networks. Security issues with hard-line Internet connections with â€Å"always-on† services like DSL and cable were concern enough already. Now with services that broadcast data throughout the air freely available to everyone, consumers have reason to be even more concerned. The same issues with privacy, credit cards numbers, personal information, etc. apply, except now people can listen in and even jump onto your network with a Pringle’s can for an antennae and a little know how. Encryption standards are still widely debated, but it is likely the added convenience will win out in the end. In a future with mobile commerce and automated account transfers over wireless networks, security will become paramount.

Evidence Based Practices For Homeless Sexual Minority Youth

Running Head: EVIDENCE BASED PRACTICES FOR HOMELESS SEXUAL MINORITY YOUTH Evidence Based Practices for Homeless Sexual Minority Youth Kerri Dunn-Bales and Mary Ann Callaway University of Oklahoma Abstract: SMY (sexual minority youth, which refers within this paper to youth who identify as gay, lesbian, bisexual, transgender, or queer) are at risk for trauma in particularly high numbers. When SMY become homeless, their risk for exposure to trauma becomes even higher, presenting the helping professions with a population that faces unique problems in clinical settings that may seek to treat homelessness without considering minority stress and repeated exposure to trauma. We reviewed literature concerned with trauma, homelessness and SMY issues to determine which EBPs (evidence-based practices) have been deemed most helpful for this population and found very few. Our investigation into local resources available to homeless SMY was similarly discouraging. Since previous trauma and marginalized sexual orientation are the primary factors for continued risk, we can suggest that Trauma Informed Care and Gay Affirmative Cognitive Behavioral Therapy are currently our best choices. This paper will seek to explore why. Description of the Problem: When discussing homeless SMY, we should remember that we are looking at the intersection of two populations whose risk factors for trauma are already elevated. To better understand these risks we looked at threeShow MoreRelatedUdhr s Article On Lgbt Rights2347 Words   |  10 Pagesfor Ebola, Lyme that put our survival itself at risk? When meditating on this question, let us also analyse our own sexual fabric. We set the standards of our own yardsticks to measure a sexual identity as valid/ invalid, normal/ abnormal, natural/ unnatural, acceptable/ unacceptable, moral/ immoral and finally good/ bad. Perhaps, upon these standards we define and adopt a sexual identity that belongs to a privileged position. One tends to overlook these privileges and rights that are availableRead MoreSexual Minority Youth And Juvenile Justice System1920 Words   |  8 PagesIntro / Problem: Sexual Minority youth (SMY) involved with the Juvenile Justice System (JJS) have a culture that require sensitivity treatment . Many youth that identify as or question their sexuality have experience prejudice attitudes from the initial point of entry( arrest). Navigating through the JJS has been a harsh and unwarranted experience with many fearing their safety from other inmates and staff. Many staff lack the knowledge of the societal realities that SMY struggle with. In additionRead MoreTeenage Moms That Are Still In High School Get Pregnant1391 Words   |  6 Pages15–17 years, and 7% for women aged 18–19 years.      Risk Factors   There is some evidence that certain groups of teenagers are particularly vulnerable to becoming teenage parents. As well as those who come from a low social economic background , it has been found that adolescents who display below average achievement are at a significantly higher risk of becoming teenage parents along with those involved in crime and homeless young people. Young people in care have also shown a higher risk of teenageRead MoreThe Homelessness Of The United States1803 Words   |  8 Pagesdemographic such as: Families, youth, veterans, and chronically homeless single male adults. Ending homelessness may require specialized solutions that are specific to individual needs. Factors like these make defeating homelessness a difficult task. Although solutions exist for some of the demographics, such as housing for chronically homeless adults, scaling up best practices remains a challenge. For other subpopulations, such as transitional aged youth, evidence-based interventio ns need to be developedRead MorePrinciples of Mental Health1258 Words   |  5 PagesIt recognizes the role and importance of family and social networks and community systems in the treatment of mental and emotional disorders. And it is familiar with and understands professional issues relating to clinical mental health counseling practice (CACREP). WHO (2012) identifies intervention principles and strategies, specifically for children and adolescents, as specificity, age, variability and practicability, and evaluation and assessment of effectiveness (WHO). Early intervention occursRead MoreHypothetical Case Study - Social Work4882 Words   |  20 PagesCase Study - Adolescent Male Geneva Giles Oakland University Dr. Scott Smith Social Work 311 June 13, 2010 Introduction Role of Person in the Environment theory in Understanding Social Problems Sexual Assault and Homeless Male Adolescent Sexual assault overview Homeless/Runaway differences Paper Intent and Overview This paper will present a hypothetical case study of a 17-year-old African American male who has been referred for social work services after being a forced recipient partner duringRead MoreLgbt Community : The United States And The World Of The 21st Century8181 Words   |  33 Pagesfor Ebola, Lyme that put our survival itself at risk? When meditating on this question, let us also analyse our own sexual fabric. We set the standards of our own yardsticks to measure a sexual identity as valid/ invalid, normal/ abnormal, natural/ unnatural, acceptable/ unacceptable, moral/ immoral and finally good/ bad. Perhaps, upon these standards we define and adopt a sexual identity that belongs to a privileged position. One tends to overlook the privileges and rights that are available forRead MoreDisparities in Transgender Population2131 Words   |  9 Pagesfalls under the umbrella of transgender, it is important to distinguish the two terms. It is important to note that being transgender does not necessarily imply anything about that persons sexual preference. Transgender individuals can be heterosexual, homosexual, asexual or anywhere else on the sexual preference spectrum. Understanding what transgender means also necessitates understanding the difference between sex and gender. A persons sex is biological and physical, and includes the sexRead MoreCommunity Health Nursing Final Exam Study Guide Essay15874 Words   |  64 Pages-------------------------------- 1. Health care for homeless, why is it so costly? They typically have to stay in the hospital for a longer amount of time because they have a lot more co-morbidities that need to be treated. Being brought to the ED is extremely expensive. Critical interventions are very costly, and so are all the diagnostic tests that must be done. They usually don’t have insurance. High mental heath issues in the homeless population. High risk for infections, trauma, violenceRead MoreProblems Afflicting the Native Americans1991 Words   |  8 Pagesincreased a lot. It is fuelled by the weak law enforcement. The youth unemployment and the lack of activities for the young Indians result in vandalism, sexual assaults, theft and street fights. Housing problems The homelessness is considered to be a subject of no public interest in the US society. So there is very little information about the homeless American Indians in the USA. It is estimated that there are almost 90,000 homeless or under housed Indian families especially in the reservations.