BUSN115_Week3_Assignment
Scenario: - To open a Lemonade Stand in your local neighborhood.
Its summer time and the most important thing in hot weather is the need to quench your thirst. What is a better drink then a refreshing Lemonade. Since long I was very much interested in opening a lemonade stand, which I finally decided to have it implemented before the summer season starts. After a lot of research and hard work I have come up with a business model that would work efficiently in generating revenue and also help local community.
Brand:-
The brand name that I came up with is a catchy and trendy word which I think represents the product and justifies the product’s need in hot season. The brand name would be “GO-COOL” Real Lemonade.
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Pricing Strategy:-
Since the Lemonade business depends on lemon and sugar, our company will have to keep an eye on the stock needed and the availability of the two item locally and internationally. Even though the business will be at the peak in summer and will slow down in winter, a close monitoring on the international prices is a must. The future plan of the company is to expand in other continents by giving out franchise. So if it winter in US we generate business revenue from countries like Australia and New Zealand where they would have summer. To keep standard pricing and profit margin for the franchises, a detailed costing would be required. The things that are needed to be considered would be Cost of Lemon, Cost of Sugar, Cost of water, Cost of container, 10% overheads (labor, rent, utilities, etc), 5% franchising fee and 7% profit margin. In addition to this pricing 2% price fluctuation will be added to the cost. With this calculation the company and the franchises should make enough money to survive in the competitive market.
Global Market:-
Even though the product can be packed in a container and can be sold globally, I would prefer to have local franchises so that we can provide pure and authentic lemonade without preservatives as we promised. Also, opening a franchise will give local people employment, which is also a way to give back to the community.
If we stick to the plans and ethics, I think our company has a bright future
The goal of communications is to make ethics a live, ongoing conversation. If ethics is something that is constantly addressed, referenced frequently in company meetings, and in personal conversations among managers and employees, then people are more aware and more willing to defend the company’s policies when they see or hear of problems. Employees will hold other employees responsible and accountable for living the company’s values.
1. A fast-food restaurant asks customers to evaluate the drive-thru service as good, average, or poor. What level of data measurement is this classification?
Select an existing production organization. Analyze the organization’s current vision, mission, business strategy, operation strategy, supply chain, total quality management, just-in-time philosophy, forecasting method, statistical technique, facility location, work design, project life cycle, and project management. Note: You will need this information in order to complete this and subsequent assignments.
13. (TCO 3) In 1948, a global forum was created whose purpose it was to reduce trade restrictions on goods, services, ideas, and cultural programs. The results of the efforts of this organization include which? (Select all that apply.)
I envisioned a cozy eco friendly spot in the African American community right across the street from the high school and recreation center. There are many people who pass by it’s a high traffic area. Considering the high rates of childhood obesity, diabetes, cancer and more why isn’t there a spot where these youth could get a fruit smoothie on the way to school. Perhaps the guy who works out every night doesn’t have to drive across town to get a protein shake after working out at the recreation center. There isn’t even a health food store in the five mile radius. Well there are two ways we could go about this.1) Create a juice or smoothie bar with unique signature drinks that will make our clients come for more. 2) Purchase a smoothie franchise and offer drinks with all the recipes standardized. On one hand it’s easy to just purchase a franchise it’s a package deal the work is done for you already. On the other hand creating a new line of drinks that meets our customers’ needs while intriguing their taste buds is so much more rewarding. We have owned a successful business in the same neighbor hood for the past 30 years. We have a great credit history and many resources. Which is the best approach? Purchase a readymade juice bar for $80,000 or develop one of our own for $40,000.Since the investments needed are significantly different let’s compare the franchise vs. start our own unique juice bar. The franchise deal covers all of the research and functional issues
3. The practice of attending to the "_____" of a firm is referred to as reputation management.
We keep everything honest and straightforward at On the Level Lemons. At On the Level Lemons, we strive to provide superior quality lemonade that customers praise to family and friends, mothers prefer for their children, purchasers choose for their clients, employees are proud of, and investors seek for long-term returns. We are a source of pride to the public, a helpful asset to our customers, and expect to enjoy further rewarding development through exceptional customer service, innovation, quality and commitment. Our purpose
Complete Chapter 12 Closing Case at the end of the chapter and submit answers to your instructor.
U.S. businesses will need to work with government to create a competitive environment that is fair.
Cool-Containers key strategy of marketing will be built on the differentiation of products. The implementation of the marketing strategy will indicate that when the company uses their competitive edge an emphasis can be made in contrast to the competitors that the sports drink products have an additional value; the drinks now are sold in containers that are reusable. These containers can keep all kinds of liquids to an ideal temperature up to a maximum of 6 hours no matter what season it is or the consumers surrounding environment. In addition, the company puts out a new flavor (strawberry) with the exact quality of the entire line of products that keeps the company among first place in the market.
Gatorade was originally produced in 1965 by a team of researchers at the sports laboratory of the University of Florida while trying to discover why players were getting sick after competing. The name Gatorade originates from the drink being tested on the 1965 Florida Gators football team. In the 1970’s Stokely-Van Camp agreed to produce, market, and distribute Gatorade. The Gatorade brand was purchased by the Quaker Oats Company in 1983, which, in turn, was bought by PepsiCo in 2001. Gatorade products were made available for sale in more than 80 countries as of 2010, and are PepsiCo 's 4th-largest brand, on a worldwide scale. According to “Gatorade Heritage” (2014), they determined “the fluids and electrolytes the players lost through sweat were not being replaced, and the large amounts of carbohydrates the players’ bodies used for energy were not being replenished.” The researchers decided to formulate a drink that would replenish the body of athletes. Since the making of the beverage, Gatorade has improved their drinks and added new products such as powders, protein bars, gum, and energy chews. Today we bring you a new product: frozen ice on a stick. In this proposal we will describe the product in detail, conduct an analysis, discuss and determine our target market, their needs,
As we go into the maturity stage, we will be in every major city in the United States. In this three year period, we would have expanded outside of the east coast and the southeast. However, we will not remove our product from Yazoo City, MS. As a social responsibility, this will be the only place the Refreshing bottled water will be available and always at price as low as possible. It is at this point, zero calorie flavor will be added to the water, to extend the product line. This water will not contain artificial sweeteners, but will contain the essence of tropical fruit.
Portfolio: Bring the world a portfolio of quality beverage brands that anticipate and satisfy people’s desires and needs
Once the core business is successful, we can expand the business by adding several other flavors like apple lemonade, orange lemonade etc. We will also look for ways to enhance existing and add more dimensions to our beverages.
Unique and popular product – the business’ product (special concentrate from north-western China, which is combined with cold water) is unique in comparison to other beverage companies, and therefore attracts customers