...Lemonade Stand Business Strategy Preview In the United States, ‘lemonade on wheels’ is a start up company in the field of the Beverage industry. Since the company is new, there would be a chain of stands across the city. The main products served at the stand will be Lemon juices in various flavors’ according to the taste, quantity and packages. The products are not age targeted and hence specific for all. Since it is a startup business, the plans for the company includes making its popularity by promoting the products in the market by very basic procedures. Name of the lemonade stand and its importance The name of the company has been kept as ‘Lemonade on wheels’. The reason behind choosing its purpose was to have mobility in the stands. The stand will be mini vans. It will have one compartment where fresh lemonade would be prepared and served. There will be a second compartment where the chairs for the customers be kept. The consumers will have their seats in the shape of wheels outside the van. The seating arrangements for the customers would be such that all the chairs would get packed inside the van when the day gets completed. The basic idea for ‘lemonade on wheels’ is that the position of the van can be changed according to the costumers and timings and be easily set. Secondly, it is intended to channelize the popularity of the product as a brand name as lemonade that is served on wheels. Mission statement and its Significance Lemonade on wheels mission statement...
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...United way: Not only help get you on your feet, but help you stay there. FUNDRASER HOW WE DID IT: Started off with the lemonade stand (selling approach) on the corner where the stop sign is. Bye humane society. (noticing how many students visited. Bagging groceries: both involved with Bagging groceries through church Plymouth covenant. Gave us the idea. Pastor Dan gave us the idea because we went to him. Groceries best idea Experience Getting involved in community Seeing appreciation from people for offering our help And them giving there money to the people in need People’s reactions/ thoughts: Lemonade stand: The few people that stopped by wanted to know what we were doing and for what, so we explained to them that it was for a class and we were fundraising to raise money for The United Way and how it was going to help so many people. Most people were walking and stopped by to buy some lemonade GLOBAL IMPACT: Improving education: by helping children in youth achieve their potential. In the video watched, I noticed that they not only help you get on your feet, but make sure you stay on your feet. Income: promote financial stability and independence Health: improving peoples health WHAT WE COULD’VE DONE BETTER: Get opinions around campus about what people would actually buy or attend so we could base it off of that and have a better success rate Topic: The United Way Fundraiser Specific Purpose: Working in a group, and trying to raise as much...
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...Lemonade Stand Part II (Informal Business Report) DeVry University BUSN115 Introduction to Business and Technology Lemonade Stand Informal Business Report INTRODUCTION Lottie's Lemonade started with the intentions of providing quality lemonade at a reasonable price and to make certain that every customer felt like they were a part of our family every time they visited. The expectation for my team has been to provide a family friendly atmosphere and service with a smile. In my opinion, we have done just that, Lottie's Lemonade has been in business now for a little over a year and every month since we opened our doors we have seen double digit growth in our profit percentages. It is now time for me to start focusing on expansion and employee growth. BRANDING STRATEGY Lottie's started out using the "Free and Freemium" pricing strategy. After a couple of months the customer demand increased and we were able to switch to a different pricing strategy and were able to raise our prices to keep up with the demand. Due to the increase in demand, we have had longer lines, so we created a website for our customers to place their orders online and have it ready for them upon their arrival. I have also implemented a rewards program for our customers. If they order 10 glasses of lemonade, they will receive a free 32oz glass in a specially designed mug that they can take home with them, of course with Lottie's logo on it. OPPORTUNITIES FOR NEW LOCATIONS I have decided...
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...Revive Lemonade Revive Lemonade is a Lemonade made from fresh organically grown lemon and raw honey. Revive Lemonade is considered not just for it’s delicious taste but it is considered for a fresh start to clean health in a cup. Revive Lemonade was created as a new way to introduce raw foods in to one of the highest rated obesity community in the City Chicago. In the past several month this community along has been the rated number one area for high blood pressure and diabetes disease case in the whole City of Chicago. Mission Revive Lemonade has the ability to change life for the better for a longer lasting future. Our mission is to bring healthier food in this community. First, a mission statement is a brief expression of why the company exists. (Bovee pg. 144) “The mission statement sums up your company's direction and outlines goals for what you and your management team hopes to accomplish, both in the business and the industry you serve. Just as you want to establish your direction as a business, it is equally important to establish it for the public. Consumers, industry partners, media professionals and more should all be able to read your mission statement and understand your direction as a company and why you've chosen that focus. The mission statement should communicate why your goals were established and why they are important to your company's overall direction.” http://smallbusiness.chron.com/reasons-mission-statements-company-15701.html Revive...
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...Assignment No.3 “Better a consistently applied mediocre strategy, than a series of ad hoc brilliant strategies.” Introduction to strategic planning To achieve certain strategically valuable results, specific actions are required to be planned and acted upon by an organisation or an individual. What inputs are made by the management of an organisation define the expected outputs. Steiner, George A. (2010) in his book explains that strategic planning is indissolubly mixed with field of management these days and is not regarded as a separate process. Managers focus has largely shifted from ‘operations only’ to ‘strategize and operate’ philosophy (Steiner, 2010). However, organisations are in a state of dilemma over the concept of effective strategy implementation (Grimshaw, et al., 2004). Some believe in single strategical approach that is consistent with one pre-planned scheme which slowly adapts to the environment; is most effective, while others point of view is that; to survive in this competitive market environment one has to adopt to series of ad hoc brilliant strategies because it can provide their business cutting edge over the others (Pietersen, 2002). I believe that both the strategies has a role to play in achieving desired strategical outcomes. What is important is that they fit right in the current environment and are implemented in a risk free manner. Changes in theories of Strategic planning When strategic planning was modernised in 1950s, large scale companies...
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...Institutions name Tutor’s name Students’ name Date The primary product to be offered by XYZ lemonade stand is a beverage that is a product of lemon, sugar, water and ice. The brand was born by the high demand of lemonade in the summer or during hot weather. The lemonade business is highly competitive due to the low initial cost. To beat the competitors who include young and creative entrepreneurs, XYZ will position its products for success. In his book ‘Entering new businesses: selecting strategies for success’ Edward. B emphasizes on the use of effective strategies for the success of new business entrants. In the case of XYZ lemonade, a variety of products will be offered including different flavors like strawberry lemonade, plain lemonade, pink lemonade, limeade and other complementary products like snacks and popsicles. Research before launching the XYZ will investigate how and when the residents prefer lemonade. Taking into account their reservations XYZ lemonade will be served in conspicuous cups that will come in different sizes, the table cloth colors will also be bright (pink) in order to attract the customers. The different cup sizes will make it affordable to a number of people as people can buy according to their pockets. To ensure XYZ lemonade brand remains in the minds of consumers, XYZ lemonade stand identified its current location after research and effective market segmentation. The selected neighborhood has a high population count; fortunately,...
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...University BUSN115 Introduction to Business and Technology Lemonade Stand Informal Business Report INTRODUCTION My new small business name will be Lemon-made; a lemonade stand in which the lemonade will be made with organic lemons, and other natural ingredients. I have always thought it was weird to make lemonade from lemon flavored sugar powder so I want my lemonade to be natural. Due to that, a potential investor in my new business is Whole Foods. They are a grocery store that seeks out natural and organic foods to provide the best for their customers. Not only does my business share that goal, but being an organic/natural grocery store, they would not necessarily have to go out of their way to provide the resources that my business would require. BRANDING STRATEGY Since the most crucial part of my branding strategy is branding my product as a healthy, organic, natural product, having an investor that already is associated with those things would increase the chances of my product being branded as that as well, in addition to having a somewhat established clientele. As far as location goes, I think it only reasonable (and fair to my investor) to position my business outside of Whole Foods Markets. Not only will this ensure a flow of customers that are concerned about their health, and the quality of the product they are consuming, but also allow for excellent publicity. The customers will be able to witness the lemonade being made freshly, with products directly from a store...
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...Network show, The Boondocks “The Block is Hot,” is about how a heat wave comes to the town of Woodcrest in the middle of the winter. A neighborhood girl named Jazmin starts a lemonade stand, which is bought by a businessman, Mr. Wuncler. Meanwhile, 10-year old political activist, Huey, stands on a soap box and talks about violations of human rights issues. Through these features, one can see how consumerism plays a role in this television show. Because this episode has the distinctive features most animated television shows have, of addressing real issues by exaggerating them, having recurring characters that the audience is familiar with and having a conflict or problem that is usually solved by the end of the episode, it demonstrates how consumerism isn’t just associated with our economy or large corporations. In, “The Block is Hot,” Aaron McGruder displays a distinctive feature that most animated television shows express when he addresses a real issue that is going on in our society today, by exaggerating it. McGruder addresses the real issues of consumerism, which shows how this distinctive feature supports this episode’s argument of how they're exploitation and corruption with consumer culture in America. The episode starts off with Jazmin who on this hot day in Woodcrest, decides to open a lemonade...
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...Contribution margin is defined as Sales – Variable Costs The unit contribution margin is defined as Unit Sales Price – Unit Variable Cost Typically, the Basic Profit Equation is used to solve one equation in one unknown, where the unknown can be any of the elements of the equation. For example, given an understanding of the firm’s cost structure and an estimate of sales volume for the coming period, the equation predicts profits for the period. As another example, given the firm’s cost structure, the equation indicates the required sales volume Q to achieve a targeted level of profits P. If targeted profits are zero, the equation simplifies to Q = FC ÷ Unit Contribution Margin Q = FC ÷ Unit Contribution Margin In this case, Q indicates the required sales volume to break even, and the exercise is called breakeven analysis. Target Costing: A relatively recent innovation in product planning and design is called target costing. In the context of the Basic Profit Equation, target costing sets a goal for profits, and solves for the unit variable cost required to achieve those profits. The design and manufacturing engineers are then assigned the task of building the product for a unit cost not to exceed the target. This approach differs from a more traditional product design approach, in which design...
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...I have been commissioned by the manager of Scottish lemonade ltd as a marketing consultant to conduct research into their product range and markets and report back to him on the findings. Due to the lack of their marketing expertise they requested a report to include any ideas and suggestions as to how the research can help the company expand its sales in the future. Scottish lemonade ltd also require me as a marketing consultant to help them develop their existing products, expand into future markets and advise on the creation of new product ranges for the company. A discussion that illustrates the interdependence of key marketing activities in the development of a marketing programme. When developing any marketing programme one of the first things a marketer must do is good market research. This involves collecting information on all aspects of a business’s environment. This involves information on existing and prospective customer’s needs, wishes, desires and wants. As well as any other characteristics that could help identify your target market such as the age, sex, religion, location and buying behaviour of your customers. Research into suppliers, intermediaries and competitors is also relevant as it can give your company an advantage over similar companies. The better the quality of market research, the easier and more effective a marketing strategy. The reason market research is done is basically to identify who your customers are (both present and future) and...
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...Associate Level Material Appendix B Price Elasticity and Supply & Demand Fill in the matrix below and describe how changes in price or quantity of the goods and services affect either supply or demand and the equilibrium price. Use the graphs from your book and the Tomlinson video tutorials as a tool to help you answer questions about the changes in price and quantity Event | Market affected by event | Shift in supply, demand, or both. Explain your answer. | Change in equilibrium | Frozen orange crops in California | Orange juice | Supply (left)—Not as many available oranges to offer consumers. | Price will increase and quantity will decrease. | Hurricanes in the Gulf Coast | Tourism | Demand (Left ) - Due to the hurricanes people may not want to take the risk to visit | Price and quantity will decrease | Cost of cotton decreases | Fabric | Supply (Right) – production of goods that use cotton will have a decrease in cost | Price decreases and quantity increases | Technology improves efficiency in pasta manufacturing | Pasta | Supply (Right) – Due to efficiency of production supply increases | Supply increases as well as quantity | * 1. What do substitutes refer to in economics? Give an example of two substitutes. A substitute good is a good that a consumer can buy instead of another that might be more expensive. For an example Kraft macaroni and cheese is cheaper then Velveeta shells and cheese, but best bet that as soon as Velveeta is on...
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...“What? How do you not have any more lemonade? Your stand sells drinks does it not?” he asked. I responded to his rhetorical question in the same tone. “Yes sir, we do sell drinks. However, since the cart has been selling them all day, we do run out of certain drinks.” I replied. The man proceeds to stare at me for an instant as though I disrespected him. Finally, after a moment of unnecessary silence he ordered a Coca-Cola and Pretzel with cheese. Immediately after ordering this, he asked me how much it costed. Because the prices at the cart varied from that of a food stand, I told him I would have to check on the cash register. I then requested one moment to allow me to do so. His response was unexpected, “How do you not know your own prices? Are you stupid?” I stopped and looked up at the man, “Sir I apologize, but I am not completely familiar with the prices of this particular cart.” “Obviously.” The man replied, “If you were a decent employee rather than a piece of shit, you would know the prices of your own products.” I was baffled, never...
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...Matt Olbrantz ENGM 5550 2/08/2011 Interim Assignment #2-Case Study; Warren Buffett It was apparent at a young age that Buffett was destined for success. His parents, grandparents knew he was a gifted as a child and eventually would turn into something great. He had something that no one else had, a savvy for business ethics and profit. It is incredible to me that by the time Buffett finished high school he had $6,000 in savings. And even more incredible to have almost $10,000 by the time he got out of college. Buffett took what he learned as a young boy about selling everyday items like gum and used the same philosophy in making billions in the stock market. As a young boy shades of brilliance were apparent, selling lemonade, bubble gum, then the purchase of pin ball machines for use in barber shops and then selling them for a profit. Buffett began trading stocks at a young age with success. It was obvious Buffett knew what he was doing as an adolescent and I think this set the foundation’s for his strategies later in life. It also shows that he would not invest something he was not familiar with. Who is not familiar with gum, lemonade and pin ball as a kid?? Warren Buffett was first exposed to formal training in investing at Columbia University, where Buffett studied under Prof. Ben Graham. Graham developed a method that identified undervalued stocks and this was Buffett’s cornerstone approach of what is now called “valued investing”...
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