Corporate Objectives

CORPORATE OBJECTIVES

1.

Corporate objectives are those objectives which are set by top management for the future performance of the business to achieve specific goals. Corporate objectives are based on time perspective. Sometimes they are set for short-term and some are long term objectives. Goals of the business include profitability, customer satisfaction and growth of the business.

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Followings are the key areas of corporate objectives and their examples:

• Market standing: Increasing market-share, Customer satisfaction
• Innovation: Better processes, using latest technology
• Physical & financial resources: Business locations, finance, supplies
• Profitability: Profit level, higher return on investment
• Management: More promotions and better management structure
• Employees: Better employee relationship by good organisational structure
• Public responsibility: Social, environmental and ethical behaviour, compliance of laws

(Key Area of Corporate Objectives, 2011)

A big company like Domino’s have different aims and objective as compare to small company. Objectives of Domino’s includes, treat people as you’d like to be treated by improving customer satisfaction by faster way of pizza making with the great test. Even customer can get more with lower the cost of pizzas. With the latest technology of GPS, customer can track their pizza delivery with their mobile phones or tablets. Dominos deliver pizza with fastest delivery with the safety of the employees. (Values of Domino's, 2015)

2.

There are five types of marketing orientation concepts. But main three types of marketing concepts are as follows:

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• Marketing concept: In marketing concept, managers focus on the needs/requirements of the customers and improve the value and quality of the product as compare to their competitors. In this concept, we have to make the brand image to attract the customer towards our product with our marketing strategy.

• Selling concept: This is another main concept of marketing. In this concept managers focus on higher selling and promotional offers. In this concept, more customers are targeted by advertising.

• Production concept: Production concept is the oldest concept in the business. Customer wants wide range of products with the cheapest price. In this concept, management focus on the higher production efficiency of the company to produce more for less. In developing countries, production concept is useful as customers prefer products and they are not interested in the features of product.  

Domino’s is using marketing strategy. Domino’s has improved customer satisfaction with batter value of the product and cheaper price with the latest innovations in the world. Even customer can get the pizza as per their specific requirements and they can get their order with their specific time with the features like, time wanted on time cooking.

3.

Core marketing strategy of Domino’s is to open more and more stores in the convenient locations near to the restaurants and shops so that people can easily serve and delivery can be made easily. Domino’s has opened 1,800 new stores in ten countries in last four years (Lutz, 2015). The store location of the Domino’s is usually near the CBD or main roads of the suburb so that it is convenient to the public access.