Follow up on “Pucker Up” Lemonade Stand

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 lemonade…