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.
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 and will be priced competitively. It will be known for its healthy, natural, delicious, and well-known taste. A focus of the drink is to get it to be appreciated not only during the summer months, but rather, the whole year round. Highlighting its health benefits with increase consumer’s interest into the product. If this investment is success, Lemon Lovin’ Life could expand by adding a twist to the lemonade drinks.
For instance, a lemonade drink can have a combination of lemon and strawberry, lemon and pineapple but always focusing on lemon as the main flavor. Ideally the lemonade stand will be placed in front of the owner’s house perhaps near a tree for shade. Attracting more consumers, being that they won’t have to stand under the blazing sun. For marketing purposes, flyers and posters will be distributed in various strategic places in the neighborhood along with calling friends and family. Creating a page on Facebook, a Twitter account, and Instagram, among others, will also heavily use social media sites.
Opportunities for New Locations
Lemon Lovin’ Life’s goal is to reach as many customers as possible in order to address the changing lifestyle choices that mainly aim to have healthy living. The new locations must consider that the target market has access to the lemonade whenever they’d like. This strategy will already tap a number of customers ranging from children, mothers buying for their families, health buffs, and young people who can already make their own purchases (Bovee & Thill, 2013, p. 346).
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).
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 and retirement plans that can be extended to their families. Finally, the company must ensure that employees have a clear career path, especially for those who have leadership qualities to allow them to have the feeling that what they are doing is “worthwhile and satisfying in itself” (Bovee & Thill, 2013, p. 223). When these needs are met, employees are will actually view the job in a different manner. Their attitude toward working there will be a positive one.
Starting a company is not only about having the money and hiring employees. There are other aspects that should be considered, including the viability of the product, the target market, demographical considerations, the location, and marketing the product.
Bovee, C. L., & Thill, J. V. (2013). Business in action. (6th ed). Upper Saddle River, NJ: Pearson.