It seems food companies are always on the lookout for new ideas. Few things are more important in business than keeping a leg up on the competition, and Domino's knows all about that.
In 2009, Domino's suffered a tough year, and it's stock took a beating. By the end of 2011, though, it had made a comeback to the tune of 233 percent!
It did not happen overnight. Behind the scenes, it was obvious that rebranding was needed to come out of such a slump.
After Domino's 50th business anniversary in 2010, the company decided to give their pizza a new recipe "from the crust up." Thoroughgoing changes were made to the dough, sauce, and cheese.
Furthermore, Domino's went public and admitted their former shortcomings and how they had hurt their pizza's reputation.
Everything up to that point had been slightly risky. There were questions about whether or not people would like the new pizza. But Domino's fortunes have indeed turned around 180 degrees from a few years ago.
All the more impressive is that this success has taken root even during hard economic times.
Sometimes, change really can be the right move.
