Little Fire Lemonade is a stand committed to selling fresh and delicious lemonade drinks. We maintain our clients through products that have a high level of satisfaction. We are driven by the collective mission of making money and raising awareness for orphans who do not have homes. We intend to support them and offer them with educational opportunities and encourage others to participate in making a difference in their lives.
Product: Our business will focus on providing customers with fresh and delicious lemonade drinks and ensure that they are happy with both the quality of the product and the service. The lemonade will be accompanied with fresh ice and large cups so that customers can drink to their fill.
Promotion: For our business to get the attention of our clients and boost sales, we shall make big colorful placards, which we shall hang on the stand. The placards will quote the name of the product we are selling and its prices. We shall utilize cheerful hand inscriptions as well as draw pictures of lemonade and lemons to ensure the signs are more attractive to passersby. We shall also post signs around the neighborhood, which will give people directions on where they will purchase the lemonade. Furthermore, we shall ensure that our stand is simple and appealing to customers and anticipate benefiting from word-of-mouth marketing when our satisfied clients refer their colleagues, friends, and family to our lemonade stand.
Place: We shall set our stand in our front yard since our neighborhood gets a considerable amount of traffic. Here, we can generate a significant amount of income, which will allow us to expand into other locations and grow our client base.
Price: Since we shall be using fresh ice, fresh lemons, and large cups, we shall charge $1 for each cup. However, we shall also provide small cups and powdered mix, which we will charge between $0.25 and $0.50 per cup to cater for the different budgets needs of our clients. A variety of prices will pull in more customers and allow us to generate more money to support our cause.
Opportunities for New Locations
As our business expands, we shall consider taking our products to the streets, especially close to intersections where people pass from different directions. However, we shall avoid setting it up close to the road to ensure the safety of our spot. Moreover, we shall target sales in places hosting special events as well as in parks after getting the required operating permits.
With a $10,000 budget for promoting our lemonade, we shall utilize mobile phones, flyers, campus outreach, social media, and door-to-door promotions. The areas where we anticipate incurring costs during the promotional phase comprise of flyers ($4,000), mobile phones ($2,000), neighborhood outreach ($2,000), social media ($500), and door-to-door promotions ($1,500).
To deal with a decline of sales, we shall motivate our employees by allowing them to have fun while working, such as allowing them to work on a flexible schedule and rewarding those who realize increased returns. We shall also train them on how to win customers as well as schedule regular meetings to address the issues they face in selling the products.
Through an elaborate marketing mix strategy and employee training, we shall manage to excel in our endeavors and emerge as a successful lemonade stand financially. This way, we shall manage to reach our goal of supporting the disadvantaged children in our society to secure better li
Cite this page
Lemonade Informal Business Report Example. (2017, Oct 26). Retrieved from https://speedypaper.com/essays/2-lemonade-informal-business-report
If you are the original author of this essay and no longer wish to have it published on the SpeedyPaper website, please click below to request its removal:
- Free Essay: The Role PPM Tools Play in the Management of Growth for SMEs
- Free Essay Sample on Volunteer Administration Model
- HR Essay Sample: How Datelines Affect Employees' Performance
- Free Essay Sample: Organizational Communication and Social Media
- Business Essay Example: Outcomes of the OCAI of Tiffany Oloke
- Free Essay: Luxury Branding and Marketing Changes in Ownership Branding and New Business
- Customer Relationship Management as Exemplified by Oracle Corporation. Free Essay.