1. 2.02 Lemonade Stand Game

2. Lemonade Stand Game
Your goal in this game is to make as much money as you can within 30 days.
You will have complete control over almost every part of your business:
Inventory/Purchasing supplies
Pricing
Quality Control
Unfortunately, the weather will play a big part when customers are deciding whether or not to buy your product.

3. Inventory Help
Your inventory is crucial to making sales - After all, without product, you have nothing to sell, and can't make any money!
So what and how much do you need? This depends on several things. First, how many customers are you expecting? If the weather is foul, and the price is high, don't expect too many (maybe tops). However, if the weather is hot and clear, and your prices are reasonable, you could expect about customers.

4. Purchasing Supplies
These are your resources
Buy additional supplies

5. Pricing for the Weather
Other factors which will make or break your business is the price you charge.
Customers are more apt to pay higher prices when the product (your lemonade) is more in demand - When the weather is hotter.
As the temperature drops, and the weather turns bad (overcast, cloudy, rain), don't expect them to pay nearly what they would on a hot, hazy day.

6. Pricing for the Weather
Price Per Cup
Weather Forecast
The price you set will be a large factor in determining a customer's happiness with your product. As the weather becomes hotter, and clearer (not cloudy, raining, or overcast), customers will be willing to pay more for your product, because it's in a higher demand. As the weather turns bad, there is less demand, and customers won't pay as much.

7. Customer Satisfaction
Will Customers like your Product?
Maintain quality control.
Word of Mouth
Customers will soon spread the word to friends.
Sell a good product for a good price, and you'll build business over time.
Don’t overcharge for inferior products.

8. Quality Control Help
The amount of sugar and lemons you add determines the overall quality of your product. Most people will expect 4 lemons and 4 cups of sugar per pitcher of Lemonade, however to save on costs you can reduce this (and reduce quality). If you're more concerned with satisfying the customers, you can add more lemons and sugar, and make a better product that, over time, they'll be willing to pay a little extra for. (Also, if you plan on overcharging for your product, this is a good way to help offset the negative reputation you would otherwise build).
The amount of ice should be determined by how hot it is outside. Too much or too little ice will lower your quality, and your customer's satisfaction! For instance, at 50 degrees, most people will want about 1-4 ice cubes in their lemonade; as you get into the 95 degree days, I'd recommend about ice cubes per cup, to make sure it's nice and cool for the customer. Another benefit of adding more ice, is that your pitcher of lemonade will be able to make more cups - more ice and less lemonade in each cup, means your pitcher of lemonade is spread out among more cups!

9. Quality Control
Are you creating a quality product?

10. Customer Satisfaction
You'll see some customers tell you what they think by the bubbles over their heads. If customers are enjoying their product, others are more likely to buy.
If customers are expressing their dissatisfaction, other customers are more likely to take their business elsewhere.

11. Customer Satisfaction
Popularity

12. Assignment A+
Record sales information for one month (30 days) on chart provided
Prepare a PowerPoint presentation of your information and analysis
Use charts & graphs to show monthly info
Incorporate animation, pictures and sounds to make the presentation interesting

13. Assignment