Essay on BUSN 115 Lemonade Stand Part 2 HRAMNARINE

Lemon Lovin’ Life Hema Ramnarine DeVry University BUSN115 Introduction to Business and Technology Professor Normin Woodin Lemonade Stand: Part 2 Introduction The company, Lemon Lovin’ Life, is a lemonade stand that is in the beverage business. Being that it is a popular drink and the low cost of starting a lemonade business, there is competition making it quite competitive in the market. This report outlines the company’s branding strategy, identification of possible new locations, promotional plans, and employee training opportunities. Branding Strategy To create a branding strategy for Lemon Lovin’ Life it will also consists of the marketing mix, namely, product, place, and promotion. Lemon Lovin’ Life has a reasonable size†¦show more content†¦346). Promotion Plans Usually local residents support new business ventures and Lemon Lovin’ Life has $10,000 to spend for advertising. Considering the product theme various marketing vehicles will be utilized to communicate the message, image, and presence of the business. Bovee Thill (2013) asserted that there are different ways to promote products, including the use of print media (magazines, local newspapers and student publications) (p. 382), broadcast media (local TV shows, radio programs), hotel guides (Chamber of Commerce newsletters, brochures, flyers), direct mail (subscriber lists, inserts in newspapers, office mail delivery) (p. 374), social media (Facebook, Twitter, Instagram) (p. 382), and others (attendance in charity events, sponsorships, press conferences) (p. 382). Employee Training In hope that the company shall grow, it will be necessary to hire more people in order to help run the lemonade stand. It is also important for the company to invest in training the staff to continue to offer quality lemonade. To do this, the company should always check whether employees are engaged, satisfied, committed, and rooted (Bovee Thill, 2013, p. 220). Providing employees with job security through a strong salary is the first step. Secondly, provide employees with health insurance