How Do Johnny's Lemonade Stand Informal Business Report
Johnny’s Ragin’ Lemonade Stand Informal Business Report
Johnny Lookus
Kerrington University
BUSN115 Introduction to Business and Technology
Professor Felix Lao
Johnny’s Ragin’ Lemonade Stand Informal Business Report
INTRODUCTION
As of now, Johnny’s Ragin’ Lemonades is looking for growth within the company, hoping to expand it its territory and to become a popular name amongst other beverages. This informal business report is going to breakdown our plans to grow/expand and move further up in the market. This informal report will consist of the branding strategies, promotion plans, opportunities for new locations, promotion plans, and Employee training.
BRANDING STRATEGY
As my company stands at the moment, we had made a great difference …show more content…
in our community with our products. I would like to start and change the image of our small stand in our community, and begin changing it to that of a higher quality, among the more popular lemonade brands.
In terms of support, I desire to seek the aid from various types of market managers and investors who are interested in our goal; and to help us reach our goal by making Johnny’s Ragin’ Lemonades stand bigger than ever! However, without the aid of the marketing managers and investors, we will not be able to make it to our goal. Without these two, nothing will be done, and no recipe will work without the ingredients. We need to take pride in our decision to expand; we are rising from the bottom to the top. I do not want to water down my own brand image of what my company stands for down to nothing.
There are a couple of different ways we can do to enhance Johnny’s Ragin’ Lemonades, and that starts by creating additional products that can be sold.
I would like to start by creating one new product at a time and see how it goes from there. If it works out, we will then reveal a new product, and continue doing so until it no longer works out. We must then announce our new products to the world, or our community at first since we are still expanding. I want to start targeting the younger audience as well as the adults. After doing so, we will make our products, new and old, cheaper compared to our competitors near us. Hoping that in doing so, sales will begin to increase, and the numbers of customers start increasing as well. After everything is set and stone, we will then see our place in the market and see how well our popularity among the area is doing. If successful, we will consider expanding onto the neighboring cities and eventually, across the …show more content…
globe.
Reference: (Bovee & Thill, 2001, Chapter 13)
OPPORTUNITIES FOR NEW LOCATIONS So far, Johnny’s Ragin’ Lemonade stand has been doing an outstanding job so far across the company/stand. Everyone has gotten used to each other, business has been booming, and the overall aura of the place has gotten better since the first time we opened. So now, I think it is safe to say that we are considering expanding the company to different areas, probably to other cities, or to other neighborhoods. Having more locations open up may be a great way to test if we are ready to expand. We will use a couple of our current employees to open up in a new location. Additionally, Johnny’s Ragin’ Lemonade stand has been doing considerably well in profit, have a constant amount of customers daily. So, in order to open up in a new location, or in order to help our new location succeed, we will need to establish a presence online. That way, more of our customers, and potential new customers, may be able to go to this new location.
The best way to market our new location and company to our consumers, new and old, via online advertisement would be through social media. Posting small advertisements on media such as Facebook, Youtube, Google, etc.. As well as creating a page on Facebook, or a website, and tell our customers to look and subscribe to our page/website to see more news about the company. That is where we update the progress of our company, and how well we are doing. Announcing new products and the grand opening of another stand or building in a new location. That way, anyone subscribed will be well informed, and may be tempted to share the information to others via word-of-mouth.
PROMOTION PLANS
There are a number of ways to promote a growing business/company.
As such, there a number of ways we can promote our own, Johnny’ Ragin’ Lemonades. Reason is how we had gained so much popularity in our community and to the neighboring communities as well. However we may still go in the direction of having a low-cost advertisement. Just to see what happens, cannot spend a lot of money on something that may not work. Better to save as much as we can and not go spending it on everything that can possible turn our company into a flop. Since most social media is free to use, it will be relatively easy to advertise. This solution to advertise on social media is the best method so far since a majority of people are on the Internet. In addition to online advertisement, either through social media (i.e. blogs, Facebook pages, etc..) and paid advertisements throughout the internet. We can use the classic way of advertising, and that it going by word of mouth, business cards, and even flyers. No matter the way of advertising, they are all great to target any type of audience we
want.
Reference: (Bovee & Thill, 2001, Chapter 16)
EMPLOYEE TRAINING
Making sure my employees are educated and informed in the business / company is something of upmost importance. If I had not trained my employees, many of them would not have known what it is that we are doing, and we would not be in this situation at the moment. There are many ways as to why sales are dropping, as such; one of those ways may have to deal with the employees. If that is the case, then one of the most obvious ways in motivating your employees is by giving people a raise. However, employees may be unmotivated because of the work environment and or maybe the employer him or herself. If that is the case, I will hold a meeting to see anyone has any sort of problems at the moment in the current standing of the company. Once that is done, we will then each pitch in ideas to help improve the state of our company, and to make sure each and every one of the employees is satisfied. If that works, then I will hold monthly meetings between everyone in the company to be able to discuss any issues and solve them at the same time. And if we are already expanded, I will relay this same process to the other managers in different locations.
Reference: (Bovee & Thill, 2001, Chapter 10)
CONCLUSION
In conclusion, I would like to encourage that everyone in the company to participate and to stay positive. This company has been built from the ground up, from a simple Lemonade stand and now we are a business. And we are thriving at the moment. We have been through a lot as a company, and our growth is something to be proud of. Together we have learned a lot about the business world and how to work in and around some of the obstacles a business faces. Now, with everything we have done so far, from setting up our brand, opening up in new locations, and promoting our company and products. I can say, I hope we are all on the right track together, and know that we will have some more successful moments in the coming future.
References
Bovee, C., & Thill, J. (2001). Business in Action (6th ed.). Upper Saddle River, NJ: Prentice
Hall.
Johnny Lookus
Kerrington University
BUSN115 Introduction to Business and Technology
Professor Felix Lao
Johnny’s Ragin’ Lemonade Stand Informal Business Report
INTRODUCTION
As of now, Johnny’s Ragin’ Lemonades is looking for growth within the company, hoping to expand it its territory and to become a popular name amongst other beverages. This informal business report is going to breakdown our plans to grow/expand and move further up in the market. This informal report will consist of the branding strategies, promotion plans, opportunities for new locations, promotion plans, and Employee training.
BRANDING STRATEGY
As my company stands at the moment, we had made a great difference …show more content…
in our community with our products. I would like to start and change the image of our small stand in our community, and begin changing it to that of a higher quality, among the more popular lemonade brands.
In terms of support, I desire to seek the aid from various types of market managers and investors who are interested in our goal; and to help us reach our goal by making Johnny’s Ragin’ Lemonades stand bigger than ever! However, without the aid of the marketing managers and investors, we will not be able to make it to our goal. Without these two, nothing will be done, and no recipe will work without the ingredients. We need to take pride in our decision to expand; we are rising from the bottom to the top. I do not want to water down my own brand image of what my company stands for down to nothing.
There are a couple of different ways we can do to enhance Johnny’s Ragin’ Lemonades, and that starts by creating additional products that can be sold.
I would like to start by creating one new product at a time and see how it goes from there. If it works out, we will then reveal a new product, and continue doing so until it no longer works out. We must then announce our new products to the world, or our community at first since we are still expanding. I want to start targeting the younger audience as well as the adults. After doing so, we will make our products, new and old, cheaper compared to our competitors near us. Hoping that in doing so, sales will begin to increase, and the numbers of customers start increasing as well. After everything is set and stone, we will then see our place in the market and see how well our popularity among the area is doing. If successful, we will consider expanding onto the neighboring cities and eventually, across the …show more content…
globe.
Reference: (Bovee & Thill, 2001, Chapter 13)
OPPORTUNITIES FOR NEW LOCATIONS So far, Johnny’s Ragin’ Lemonade stand has been doing an outstanding job so far across the company/stand. Everyone has gotten used to each other, business has been booming, and the overall aura of the place has gotten better since the first time we opened. So now, I think it is safe to say that we are considering expanding the company to different areas, probably to other cities, or to other neighborhoods. Having more locations open up may be a great way to test if we are ready to expand. We will use a couple of our current employees to open up in a new location. Additionally, Johnny’s Ragin’ Lemonade stand has been doing considerably well in profit, have a constant amount of customers daily. So, in order to open up in a new location, or in order to help our new location succeed, we will need to establish a presence online. That way, more of our customers, and potential new customers, may be able to go to this new location.
The best way to market our new location and company to our consumers, new and old, via online advertisement would be through social media. Posting small advertisements on media such as Facebook, Youtube, Google, etc.. As well as creating a page on Facebook, or a website, and tell our customers to look and subscribe to our page/website to see more news about the company. That is where we update the progress of our company, and how well we are doing. Announcing new products and the grand opening of another stand or building in a new location. That way, anyone subscribed will be well informed, and may be tempted to share the information to others via word-of-mouth.
PROMOTION PLANS
There are a number of ways to promote a growing business/company.
As such, there a number of ways we can promote our own, Johnny’ Ragin’ Lemonades. Reason is how we had gained so much popularity in our community and to the neighboring communities as well. However we may still go in the direction of having a low-cost advertisement. Just to see what happens, cannot spend a lot of money on something that may not work. Better to save as much as we can and not go spending it on everything that can possible turn our company into a flop. Since most social media is free to use, it will be relatively easy to advertise. This solution to advertise on social media is the best method so far since a majority of people are on the Internet. In addition to online advertisement, either through social media (i.e. blogs, Facebook pages, etc..) and paid advertisements throughout the internet. We can use the classic way of advertising, and that it going by word of mouth, business cards, and even flyers. No matter the way of advertising, they are all great to target any type of audience we
want.
Reference: (Bovee & Thill, 2001, Chapter 16)
EMPLOYEE TRAINING
Making sure my employees are educated and informed in the business / company is something of upmost importance. If I had not trained my employees, many of them would not have known what it is that we are doing, and we would not be in this situation at the moment. There are many ways as to why sales are dropping, as such; one of those ways may have to deal with the employees. If that is the case, then one of the most obvious ways in motivating your employees is by giving people a raise. However, employees may be unmotivated because of the work environment and or maybe the employer him or herself. If that is the case, I will hold a meeting to see anyone has any sort of problems at the moment in the current standing of the company. Once that is done, we will then each pitch in ideas to help improve the state of our company, and to make sure each and every one of the employees is satisfied. If that works, then I will hold monthly meetings between everyone in the company to be able to discuss any issues and solve them at the same time. And if we are already expanded, I will relay this same process to the other managers in different locations.
Reference: (Bovee & Thill, 2001, Chapter 10)
CONCLUSION
In conclusion, I would like to encourage that everyone in the company to participate and to stay positive. This company has been built from the ground up, from a simple Lemonade stand and now we are a business. And we are thriving at the moment. We have been through a lot as a company, and our growth is something to be proud of. Together we have learned a lot about the business world and how to work in and around some of the obstacles a business faces. Now, with everything we have done so far, from setting up our brand, opening up in new locations, and promoting our company and products. I can say, I hope we are all on the right track together, and know that we will have some more successful moments in the coming future.
References
Bovee, C., & Thill, J. (2001). Business in Action (6th ed.). Upper Saddle River, NJ: Prentice
Hall.