What methods will you use to get your product out there? How will you expose your lemonade to as much people as you can? Will you use flyers, word-of-mouth, telemarketing, or social media? Nowadays, you are not limited to traditional advertisements like radio, TV, and newspaper. The world is your oyster when it comes to spreading the word.
The place pertains to how and where you sell your product. In real estate, they always stress that location is key. It’s actually the same thing in selling. Where are you going to sell the lemonade? Are you just going to setup a stand right outside your door or are you setting up a booth in the circus or are you selling lemonade in a very busy movie house? Place is very important because this determines your market, the way your product is perceived, and the price that your consumers are willing to pay for your product (a cup of lemonade will cost more than double if sold at a high-end mall in Singapore as compared to a wet market in Thailand – even quadruple if economic standing is considered but that is another story altogether).