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

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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.

 

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CardByte Launches Contact Management and Business Networking App to Revolutionize Businesses

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CardByte, a contactless contact management and business networking company, steps foot in the Indian market to disrupt businesses and elevate the number game for individuals and organizations. The venture is a card-based networking and contact management platform for individuals and companies that are driven and regulated with proprietary AI-integrated management systems.

CardByte App

Not only is the company bridging the gap by launching an application to stay in touch with one’s contact but also staying environmentally conscious of its choices. CardByte’s digital-only model aims to reduce the paper print across the globe and prevent deforestation for manual contact cards and networking.

Reinstating a new normal with its digital services and features, CardByte aims to aid individuals, enterprises and companies that can’t afford fancy, hefty-priced automated solutions for contact management and regulation. It further assists people in managing and arranging contacts; scanning, finding, and updating contacts in real-time for immediate help and increases the overall productivity of individuals, clients/ businesses. In addition to this, CardByte is helping people to stay connected and updated with their network.

CardByte intends to take the sector by storm with its features and services including contact directory with organizer to organize contacts by industry, profession, and build one’s business and professional network, online/offline sharing of business cards, AI-powered online/offline card scanner, enabling discovery to help people explore known contacts and get connected to mutual contacts and maintaining privacy to have complete control over your information.

Mr. Navinn Kapur, Co-founder & Director of Scientia Solutions Pvt. Ltd.

Commenting on the launch, Mr. Navinn Kapur, Co-founder & Director of Scientia Solutions Pvt. Ltd., said, “CardByte is our effort to revolutionise the way people manage their contacts. Helping businesses grow accurate contact information and periodic upgrades with time, I see people understanding the perks of organising their contact book digitally and regulating their connections to network better even in this low touch economy. CardByte is not only something that helps people organise their contacts at the tip of their finger but also respects their privacy and confidentiality while being easy-to-use. It helps the customers in structuring their contacts digitally, network socially along and enable them to take control of their data while allowing seamless integration of all their information in our AI Directory.

He further added, “CardByte is meant to be a part of your routine, making you come back to it every time you need help with your contacts or your social circle. With the launch of the app, we further envision to introduce the enterprise version of the product soon this year and enable our customers to have experience Augmented Reality and conversational AI through our product.

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Atrimed Pharmaceuticals Introduce – Vyvuz: A Capsule that can Inhibit Viral Replication

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Bangalore based Atrimed Pharmaceuticals recently launched their new find ‘Vyvuz Capsules’, a highly researched product licensed by the “Drug Authority of Kerala” that has been shown to inhibit the virus by up to 99.9%.

Vyvuz capsule jar

In the wake of the Omicron threat, it has become imperative to have a multi-pronged strategy to combat SARS CoV2. Dr. Hrishikesh Damle, M D & CEO – Atrimed Pharma stated that “As we know, vaccines are a good way to prevent the severity of the disease.” He continued, “Other measures like medicines that can prevent the replication of the virus also have a major role. With the ease of use and affordable price, all primary contacts, those who are travelling, attending gatherings or school-going children, can be protected against the virus with the addition of Vyvuz to existing measures.” Since it is known to be safe, Vyvuz has ingredients that have been tested in the Government of India Biotechnology labs and have been shown to inhibit the virus by up to 99.9%.

Atrimed Vyvuz Press Conference

It is going to take longer to achieve 100% vaccination with two doses among the eligible population. Children aged 15 to 18 are recently approved to be vaccinated. A booster for all is a distant dream currently. At this juncture, Vyvuz comes as a welcome alternative that can be added to the current effort. This formulation has been tested against the ‘Delta‘ variant and was found to be effective. AI based studies prove that it is also effective against the ‘Omicron‘ variant.

The formulation contains Centella Asiatica, Withania Somnifera, and Andrographis Paniculata. Atrimed has conducted In-Silico, In-Vitro, In-Vivo, Phase 1 and Phase 2 clinical trials. The formulation was proven to be effective in reducing inflammatory markers and hence early symptomatic relief in COVID patients. The present formulation has been developed through the meticulous research carried out by Atrimed, and we request all Ayurvedic Doctors to judicially prescribe the product.

About Atrimed Pharmaceutical Pvt. Ltd.

Based in Bangalore, develops medicines from plant based molecules to develop drugs that cure diseases which have plagued humanity such as Psoriasis, Acne, Arthritis and more. It combines the traditional cures with the knowledge base created from computer aided drug design, biotechnology and Artificial Intelligence to establish a library of plant molecules, some 400,000 strong, the largest in the world. Its products cater to Skin and Hair care, Mother and Child care, and Bone related diseases, Nutrition, Metabolism and Allergies. The pharmaceutical company was sent to BIO 2019, Philadelphia, USA which is the largest Biotechnology Expo in the world by the Karnataka Government to showcase Karnataka’s biotechnological ecosystem to learn more about the perspectives of high-level government officials, key thought leaders and experts from around the world on the new opportunities and challenges facing the global biotech industry.

For further information, please visit: atrimed.com.

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Goa Eyes Investment Opportunities from India Pavilion

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The state of Goa is ready to showcase its tourism prowess and business opportunities available in the state to global investors during its participation at India Pavilion in EXPO2020 Dubai.

Dr. Aman Puri, Consul General of India in Dubai and Mr. J Ashok Kumar, Secretary, Industries & Tourism, Government of Goa at the Goa Week inauguration ceremony at India Pavilion, EXPO2020 held yesterday

The state’s floor was inaugurated yesterday by Mr. J. Ashok Kumar, Secretary to Chief Minister, Sports & Youth Affairs, Tourism, Industries Trade & Commerce, Handicrafts Textile & Coir, Mr. Sanjay Kumar, Secretary – Revenue, Information Technology, Labour & Employment and Mrs Swetika Sachan, Director, Directorate of Industries, Government of Goa at the India Pavilion Dubai EXPO2020.

Inaugurating the state’s floor, Mr. J. Ashok Kumar said, “The state of Goa is proud to be a part of the EXPO2020. The state looks forward to this opportunity to showcase its vibrant culture and invite investors to explore our major focus sectors such as Agro & Food Processing, IT & Knowledge-based Industry, Pharmaceutical & Biotechnology, and Tourism.”

Mr. Sanjay Kumar said, “IT is a main area of thrust in the state. We have progressive policies such as the IT Policy 2017, and the Start-up Policy, 2021 with attractive incentive packages. We have also developed a new Electronic Manufacturing Cluster where plots of varying sizes are available for allotment.”

Ms. Swetika Sachan, CEO, Goa Investment Promotion and Facilitation Board said, “I look forward to connecting with the Goan diaspora of the region and discuss the investment potential of the state. IPB is the single window agency of Goa, and we are here to offer the desired support to those looking to Goa for their next investment.”

Goa will be making a strong pitch to the global investors by showcasing its business capabilities along with its tradition and culture through a series of events exhibiting opportunities across key focus sectors including Education, Tourism, Financial Services, Pharmaceuticals & Biotechnology, Agro-based and Food Processing Industries and Aviation, Aerospace and Defence among others.

On the Goa inaugural event, Ms. Tadu Mamu, Consul – Press, Information, Culture & Labour, said, “Goa is one of the most attractive tourist destinations in India and one of the upcoming investment destinations offering great opportunities. The Goa Week at India Pavilion will host various business meetings and cultural events showcasing the prowess of the state across different sectors.”

The Goa week will also see industry-specific expert sessions, roundtable discussions, B2B & G2G meetings along with cultural performances by renowned artists and Goan Band.

Goa is the smallest state in the country with a rich heritage, serene atmosphere and well-developed infrastructure. Goas economic growth is driven by the strong performance of its industrial sectors such as tourism, fishing, agriculture and pharmaceuticals.

Tourism is the backbone of the state’s economy, with 40% of the population directly or indirectly dependent on it. The state has recently framed a new tourism policy to offer a uniquely Goan experience to visitors by presenting a versatile concoction of historic, natural, ethnic, cultural locations and attractions.

The Goa week will conclude on 20th January 2022.

To know more about India Pavilion at EXPO2020 Dubai, please visit:

Website – www.indiaexpo2020.com

Facebook – www.facebook.com/indiaatexpo2020

Instagram – www.instagram.com/indiaatexpo2020

Twitter – twitter.com/IndiaExpo2020s=09

LinkedIn – www.linkedin.com/company/india-expo-2020/viewAsMember=true

YouTube – www.youtube.com/channel/UC6uOcYsc4g_JWMfS_Dz4Fhg/featured

Koo – www.kooapp.com/profile/IndiaExpo2020

To know more about EXPO2020 Dubai, please visit –www.expo2020dubai.com/en.

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