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Busn 115 lemonade stand informal business report - term paper
1. 01/10/2016 Busn 115 Lemonade Stand Informal Business Report Term Paper
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Autor: nickhayes12 • January 10, 2016 • Term Paper • 677 Words (3 Pages) • 456 Views
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Lemonade Stand Informal Business Report
Nicholas Hayes
DeVry University
BUSN115 Introduction to Business and Technology
Professor Towers
Lemonade Stand Informal Business Report
INTRODUCTION
When life gives you Lemons! We are a fantastic local company that sells quality lemonade at a
very fair price. We take pride in keeping our business local and demonstrating some of the best
CSR in our community. We are selfmotivated and a goal orientated company.
BRANDING STRATEGY
When it comes to branding we at When life gives you Lemons! are going with a Market
Penetration strategy. We are firm believers in our product and do not feel that we need to alter,
changer or add more products to enhance our business and sales. We provide a top of the line
lemonade at a fair price and it seems to have the community quite happy. We are however going to
push harder to sell more of our same lemonade and really penetrate the market. According to
Foundation (2015) Growing the business by penetrating its market more thoroughly is typically
the first step a business takes to grow. We stand firm behind our product and plan to execute
Market penetration to a tee.
OPPORTUNITIES FOR NEW LOCATIONS
We have been very successful at our current location within the community but we are
wanting to open up a new lemonade stand on the other side of town. We want to maximize
exposure to our product and feel that we could increase sales if we have two easily accessable
locations for customers to indulge in our mouthwatering lemonade. According to Smith (2015)
Your business's location is key to successful operations and overall growth. This is exacly why we
feel at When life gives you Lemons! that we should expand and open another lemonade stand.
PROMOTION PLANS
We currently are preparing a $10,000 budget for promotion. We want to take a direct
marketing approach to get our product out to the public. We plan on sending out emails and
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