...BUSN115_Week3_Assignment Scenario: - To open a Lemonade Stand in your local neighborhood. Its summer time and the most important thing in hot weather is the need to quench your thirst. What is a better drink then a refreshing Lemonade. Since long I was very much interested in opening a lemonade stand, which I finally decided to have it implemented before the summer season starts. After a lot of research and hard work I have come up with a business model that would work efficiently in generating revenue and also help local community. Brand:- The brand name that I came up with is a catchy and trendy word which I think represents the product and justifies the product’s need in hot season. The brand name would be “GO-COOL” Real Lemonade. People find different reasons to stay cool in harsh summer season. One way of staying cool is keeping the body hydrated. Providing consumer a refreshing drink will give them a reason to come back and with the easy brand name they would never forget the product. With future expansion plans like franchising in other countries the name would be universally accepted. Mission statement:- At “GO-COOL” Real Lemonade, we embrace the simplicity of Lemonade— Lemon, Water and Sugar. Our goal is to create a product in which the true taste of the Lemons come through. “GO-COOL. We will strive to live up to the expectation of the consumer to provide them the best of the nature to give them the feel of cool nature. We will work hard and will be honest whether...
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...Lemonade Stand Norberto Vargas DeVry University Lemonade Stand Informal Business Report INTRODUCTION The name of this Lemonade stand is “Lemon and its products” and its primary products in the market will be lemons and all other products that can be derived from lemons such as juices and lemon flavored baked products. Its main drive is to make these products readily available in the market, expand the business globally and help the society to have healthy living people. It will also be keen to giving back to the community through corporate social responsibility. The business pricing strategy will be on demand basis. The excess or shortage supply of raw materials and willingness/ability of the customers to purchase will affect the prices (Bovee & Thill, 2012). BRANDING STRATEGY The product will be branded in a manner that creates a great consumer experience with an emphasis of very high quality products that are natural, healthy and tasty. The packaging materials will bear a design and a logo that’s entirely unique and communicates of the company’s association to the product. The company will also consider a support service of free delivery within a certain area of operation to encourage consumers to buy products without visiting the stores (Bovee & Thill, 2012). Distribution will be considered on retail level of engagement since lemon products are perishable and cannot be stored for long. The retailer will be requested for to give some forms to customers...
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...Tuyet Chavez BUSN 115 Professor John Kyser 15 November 2015 Develop a creative name for your Lemonade Stand, and then explain why a name is important when you are considering branding options? The name that I have chosen to go with for my lemonade stand is “The undistracted lemon squeezer”. The reason I decided to come up with this name is because, it sounds like my lemonade stand is the destroyer of all lemons. The name also makes it sound like this lemonade stand can be the bet out there. It can make any perfect glass of ice cold liquid gold, turn into amazing refreshing lemonade. I believe that my lemonade stand name is vital when I am considering marketing alternatives because I believe a name can make a difference. If it is not a catchy name, not many will notice it. People will just look at the stand and walk away if the name is just the lemonade stand. Since it’s a catchy name; it’s absolutely impossible that a client that makes a trip to quench their thirst will forget a name like the undistracted lemon squeezer. Create a Mission Statement for your Lemonade Stand (Chapter 7); then explain why a mission statement is important for any company? To me a statement of purpose is the thing that ought to help a man to continue spending their cash at a foundation. A few illustrations of the statement of purpose are to help the populace of the group, fulfill the customer needs, and so on. The undistracted lemon squeezer stand's main goal is to raise cash to further research...
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...Lemons Heads Lemonade Stand Thaddeus Tolbert Devry University INTRODUCTION Lemons Head is a locally owned and provides the highest quality lemonade to our customers. We buy the best fresh Lemon on the market. Our lemonade will also come in different flavors such as raspberry, strawberry, and peach. One of Lemon Heads main goal is to create good quality products and sell them for reasonable cheap price. BRANDING STRATEGY Lemons heads has a great chance to be one of the best lemonade stand or franchising. Hopefully in the future we can expansion and hit the market with a have a franchising opportunities. Also I would like to work with retailer stores like as Walmart, Abertson, Fry’s so I can sell my product in there store, but I can also start at the local moms and pops stores for a test run to see how my product sell before going to the big retailers, but this will allow Lemons head a much greater opportunity for the company to show its brand and for a great exposure. OPPORTUNITIES FOR NEW LOCATIONS Our stand is local at Westgate at a small booth, business has been extremely successful because of the area, we get a lot of business when there are sports events like the Cardinals and Coyales games going on. Lemon Heads is looking at opening up a new location in Tempe on Mills Ave. The area would be a perfect spot for a new stand. The Area is known for the popular spot for Arizona State University students. Our stand also needs to be in the area on Mills Ave that...
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...in another number. Discussing these correlations will be the bulk of your analysis of what happened during the month. They’ll provide the reasons for your proposal to improve the following month. As you see the correlations, you’ll begin to see the story of your month, the “hiSTORY” of the month. Some correlations will be irrelevant to that story. Others will tell it in pictures. The text of your report will explain those pictures. Don’t look at the graphs and charts as an extra, optional add-on. Look at them as THE way to tell your story. Examples: What correlates with weather? What correlates with profits? What correlates with daily sales? These will rarely be one-cause, one-effect correlations, even for as simple an operation as a lemonade stand. Which chart or graph is right for you? Tell impactful stories with data Fifth – correlations in subsets of data Correlations How are you going to structure this story? That is, in what order are you going to discuss the correlations? * by chronology, perhaps week by week or phase by phase. * by types of weather: all the sunny days, all the rainy days, etc. * by ingredients. If you see that your ordering of lemons correlates highly with other decisions, then you can make subsets based on lemons in inventory. * by profits or sales. How to the seven highest-profit/sales days compare to the seven lowest-profit/sales days? After you decide the structure, as with the patterns above: * Make a separate spreadsheet...
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...Interactive Supply and Demand Simulation Lemonade Stand": a game that just oozes the phrase "supply and demand". "Lemonade Stand" was somewhat challenging in the gameplay; the concept, however, was simple, play through seven days, selling lemonade, while buying the components necessary to concoct said lemonade. Sounds easy, but the kicker is the part where you want to come out with as much profit as possible. I played three seven day sessions of this game, and never once did I manage to come out with a profit. It seemed as though the only time I was drawingin customers was when I dropped the price and raised the amount of sugar per pitcher, which would, needless to say, increas my spending and decrease the money I'm making. Obviously, this is not good for business. A game such as this, believe it or not, requires quite a bit of thought, and, if one hopes to be successful, a strategy. My strategy going into my first gameplay was simple: I didn't have one. My brother had played this game before and warned me that it is difficult to know what to do until you see how the customers react. If you get little-to-no customers, drop the price, then see how they react. Even after lowering the price, I was getting customers that were telling me to lower it even more, and some customers just simply said, "Mmm!" So I knew the lemonade I was producing was tasty, but many were not happy with the price. I lowered the price to fifteen cents per cup, and people started saying it wasn't good...
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...Lemonade Stand: Part 2 Your Name Course Name Professor’s Name Date Lemonade Stand: Part 2 The company, John’s Lemons, is a lemonade stand engaged in the beverages business. Specifically, the company’s products are lemonades made up of lemon, sugar, water, and ice. Lemonades are popular drinks during the summer as it helps quench thirst because of the hot weather. Considering the low initial cost of putting up a lemonade business, there is substantial competition making it a highly competitive venture with a soaring market demand. Because of the tough competition, John’s Lemons formulated a plan that positions its products for success. As a result, this report outlines the company’s branding strategy, identification of possible new locations, promotional plans, and employee training opportunities. Branding Strategy For the purposes of creating a branding strategy for John’s Lemons, the remaining aspects of the marketing mix, namely, Product, Place, and Promotion, will be used. This will be done after identifying and dividing the market into various segments where customers will be grouped according to characteristics, needs, and behaviors. Product John’s Lemons will primarily offer lemonade to its customers. It is moderate in size and will be priced competitively. It will be known for its healthy, natural, flavorful, and well-known taste. The main objective is to create the image of a light and satisfying thirst quencher, a beverage that is not only appropriate...
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...set your product apart from the rest. Branding is your promise to the customer of what they can expect from your product. Branding is a strategy that is very important in the beginning stage of creating a business. Without a good brand name, your business could sink before it touches the water. With a properly thought out name, your business could turn into the Hilton of hotels; the Starbucks of coffee shops. “Your brand strategy is how, what, where, when, and to whom you plan on communicating and delivering on your brand messages”, (http://www.entrepreneur.com/encyclopedia/branding). It’s all in the name. Mission Statement Our mission is to yield the best lemonade at the most affordable price to the Ohio Valley. We dispense only the best quality lemonade possible, and provide a large variety of lemonades, to always keep your taste buds coming back for more. So, come on and wet your whistle. A mission statement is a concise description of why a business exists (Bovee, C.L., Thill, J.V. 2013). It defines your target customers, establishes your product and services, and describes the location that your business operates in (http://www.entrepreneur.com/encyclopedia/mission-statement). It is important to have a mission statement to let the people know who you are, and why you’re here, to draw them in. Corporate Social Responsibility CSR Plan • Purchase lemons from local farmers markets to give back to the community. • Provide a clean, safe, and pleasant...
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...The creative name I have chosen for my lemonade stand is Tasty Lemons. The name of your business is important because it is the first impression for all of your customers. A good name will stick inside the minds of customers allowing your company to stand out from the competition. Mission Statement: Our goal is to provide our customers with the absolute freshest lemons possible to give them the best lemonade on the market. A mission statement is important to a company because it gives information about the business and its goals to the consumer. Our goal lies with the environment first allowing for our customers to have purchase our product knowing that the lemonade they are drinking was made as eco-friendly as possible. The pricing strategy I chose to use with the lemonade stand will be dynamic pricing. Dynamic pricing will enable the company to adjust the pricing levels to gain the most profits while still thinking about the customer. It will also let the company to keep making profit even if the market for lemons or sugar changes. Although this will allow the company to change the prices whenever they want they should not change it too often to avoid customers getting upset because you used to be cheaper yesterday than you are today. I chose to pick this strategy since it is the best choice for the business and the consumer. In order for a company to go global and have an online presence they must first conduct proper research in the marketplace. One example...
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...business. A business that I think it might have great potential in the near future. But that it also comes with a few questions in mind. Let’s explore some of this questions one by one. -Develop a creative name for your Lemonade Stand, and then explain why a name is important when you are considering branding options? The name of my business will be call, “Lemon Lime” I see this name very catchy as it is a hybrid of the two of the many types of lemons around the world. The name will reflect what I am and what I can do as a business person, as person or company with integrity and ethics value. But is not just for me or my employees is for my target consumers, the thousands of people in my local area as that’s where I plan to start my business from or perhaps the millions of people around the world. Or as Bovee and Thill says “It gives customers a way of recognizing and specifying a particular product so that they can choose it again or recommend it to others”. And that’s exactly what I want from my business to be recognized first locally then globally as pure “Lemon Lime Splash”. -Create a Mission Statement for your Lemonade Stand (Chapter 7); then explain why a mission statement is important for any company? To produce the best lemonade for the local consumers but at the same time to bring it to the masses. By meeting, learning and selecting the best lemons from local growers farmers or from around the world. I see a mission statement as a vital point to the...
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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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...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 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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