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Follow up on “Pucker Up” Lemonade Stand

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Words: 550

Pages: 2

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Business Plan: Lemonade Stand
[Student’s Full Name]
[Institute affiliation]
In this essay, we shall write an informal business report on which we shall share our business plan with a prospective investor. In this report, we shall speak about the rest of the branding strategies (Place; promotion, and product), and a brief discussion of why we decided to do so. We shall address the promotion plans, and the budget we have. Finally, we shall solve the issue of employee motivation, and the issues of managerial changes.
Branding Strategies
The three elements of the Marketing Mix: The “Marketing Mix” has four components, but since we have addressed to the price, we shall discuss the other three.
Place: Place refers to where the product is going to be located and how is it going to be distributed to the customer. For instance, we were aiming for a neighborhood-based lemonade stand whose costs of distribution were cut to the bare minimum due to previous agreements with local producers of the lemon. Allowing us to reduce the production costs to a 25% of the final cost of the product.
Promotion: Promotion refers to the way to the product is advertised to turn it into a marketable good. We are calculating that promotion costs will be around a 10% of the final cost of the product, given the fact we wanted to advertise it mostly on the social networks by creating it a Facebook, and an Instagram page. These are the most cost-effective tools we found to advertise our lemonades.
Product: Our product is our lemonades in all the different presentations we stated in our last essay.

Wait! Follow up on “Pucker Up” Lemonade Stand paper is just an example!

As a way to keep the business going, we aim to create different flavors of the Lemonade as a way to entertain people’s palates and give them a sensation of “coolness” in our stand.
Our marketing mix seems to be solid, as it offers a good product at a value price that allows the company to win enough money to reinvest in the business and be profitable.
Promotion Plans
We all know that a business without proper promotion will not succeed. That is why our investors have given us $10,000 to invest in our company promotion plans. We shall provide an outline of which plans we plan to use, and why.
Block Party: Prior the launch of Pucker Up as a full-fledged lemonade stand we aim to throw a block party on which we will cater our guests with samples of our product, as well as offering a small party with live music and the formal inauguration of our stand. We consider that if we invite 100 people, the cost of our party will be around $6,000.
How is the Lemonade made: We shall do a Facebook contest, and two winners will be able to witness the process that makes our lemonade so delicious- from the picking of the lemons to the selection of the product. Approximate cost: $2,000.
2×1 Monday and Wednesday: In the first two months of our release, we shall offer a 2×1 promotion in our stand, as a way to bring more clients to it. If all things go as planned, the expected price of the promotion will be around $2,000.Employee Motivation
Due to the increasing amount of responsibilities in the company, we have been forced to hire additional staff. Two new members joined the Pucker Up team, behind the bar preparing the lemonades. However, we understand that given the fact that the business is not theirs, they might not feel motivated. That is why, after calculating the costs, we realized that we can give our employees a $0.50 bonus for each 50 lemonades they sell. That way, we consider that if they reach our first quarter quota of 10,000, they will earn an extra $100 each month. In the same we two days of paid vacations each month to keep productivity at its highest.

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