BUSN 115 help Making Decisions/uophelp.com BUSN 115 help Making Decisions/uophelp.com | Page 61

understand and apply these concepts. In Part II of your lemonade stand
we will incorporate concepts from previous weeks 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:
-
Branding strategy. In Part I, you decided part of the brand when
you developed your pricing strategy. Continue with the other parts of
th e marketing mix (Place, Promotion, and Product), and discuss how the
lemonade stand should be branded utilizing this marketing mix (Chapter
14).
-
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 (Chapter 15).
-
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) (Chapter 16).
-
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? (Chapter 10)
Activity
Once you have considered the points above, please provide responses
and explanations using the template provided in Doc Sharing (titled
“Lemonade Stand Informal Business Report”). Utilize your textbook
and apply the lessons we have learned in previous weeks to develop and
support your plans. By offering support and developing your response,