The Lemonade Stand Summary

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Kenneth Sullivan, President and CEO of Smithfields Foods, Inc., gave a lecture called “From Donut Salesman to CEO.” He spoke on September 13, 2017 at 5:00pm to a full lecture hall in Gerdin. Smithfield Foods, Inc. is the largest pork processor, hog producer, and packaged pork company in the entire world. They raise 21 million hogs a year all around the world, and 16 million of those hogs are raised in the United States alone. Some of their popular retailers are Walmart, Hyvee, and Costco. Some popular restaurants that distribute their meat is Subway, McDonald’s, Burger King, Applebee’s, Texas Roadhouse, and Panera Bread.
In reference to the textbook, Consumer Behavior Buying, Having, and Being, core values and ethics are an important part to a company’s image (pg. 246). Smithfield Foods understands the seriousness of core values and is proud to be named the first agricultural company to implement all the necessary values. These values include: animal care, environment, food safety and quality, people, and helping communities. These are their pillars of sustainability that every single one of their employees stand by and …show more content…

He stated that the way a large business operates is as simple as running a lemonade stand. It is the basic concept of selling your product for more than what you paid to make it. He believes that every employee, no matter where in the hierarchy they are, should understand the fundamentals and economics of their company. There are different levels and complications of every company, but at the end of the day, we can easily compare every company to a lemonade stand because each one has the simple goal of selling their product for more than what they paid. I related this topic to the price element of the marketing mix. To sell your product for more than what you paid to make it, you must understand the basic economics of your company in order to set the price

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