this assignment is due at 12:30am CST plz comment if this is something you think
ID: 2638193 • Letter: T
Question
this assignment is due at 12:30am CST plz comment if this is something you think you can post an answer for by then ASAP. Do not worry about quoting the book(use a couple outside sources) and dont worry about any previous assignment it refers to. Everything is new. Use template listed at bottom of page(marked).
directly below are also some instructions. questions or concerns just comment on post
Lemonade Stand, Part II
Informal Business Report
Background
In Part II of this assignment, we continue to outline various business aspects of our lemonade stand. As you have continued to learn new concepts in this course, you have seen how a lemonade stand can help us understand and apply these concepts. In Part II of the lemonade stand project, we will incorporate concepts from Weeks 4, 5, and 6 and apply these to your newly created company.
Scenario
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 the following
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 13).
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
Once you have considered the points above, please provide responses and explanations using the template provided in Doc Sharing (titled
Explanation / Answer
Answer: Over the years marketers have been presented with a series of philosophicalapproaches to marketing decision making. One widely used approach is the marketing concept approach which directs the marketer to develop the productoffering, and indeed the entire marketing program, to meet the needs of the cus-tomer base. Akey element in this approach is the need for information flow fromthe market to the decision maker. Another approach is the systems approach, whichinstructs the marketer to view the product not as an individual entity but as justone aspect of the customer
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