Reference no: EM13726558

Lemonade Stand: Informal Business Report

Background:  In this assignment, we continue to outline various business aspects of our lemonade stand. As you have continued to learn new concepts in this course, you have seen how a lemonade stand can help us understand and apply these concepts. In Part II of the lemonade stand project, we will incorporate concepts from Weeks 4, 5, and 6 and apply these to your newly created company.

Scenario:  In Week 3, you created a lemonade stand that you opened in your local neighborhood; you created a name, developed a mission statement, outlined a CSR plan, and picked a pricing strategy for this new company. This week, you will continue to develop your idea by writing an informal business report that will share your plans with a potential business investor. A report template is available in Doc Sharing to guide you through formatting of this assignment; however, the main prompts you should address in the report include the following

· Branding strategy. In Part I, you decided part of the brand when you developed your pricing strategy. Continue with the other parts of the marketing mix (place, promotion, and product), and discuss how the lemonade stand should be branded utilizing this marketing mix.

· Opportunities for new locations.Your stand in your neighborhood has been very successful and you are considering expanding operations. In doing so, you will need to outline some criteria for potential new locations.

· Promotion plans.You have a $10,000 budget to promote your stand in the local community. Please outline two or three ways you could promote this business (please include costs involved in these promotions)

· Employee training. You have hired several people to run your lemonade stand, as you simply are too involved in the strategic aspects of the business. As such, you have seen sales drop. What are some ways you can motivate your employees to improve sales?