BUSN 115 study Great Stories/busn115study.com BUSN 115 study Great Stories/busn115study.com | Page 75

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 the
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