Zatwsho LLC - Case Study Example

?Running Heading: Zatswho LLC Zatswho LLC This report analyzes the business idea of a motherand a daughter who started a new venture with the name of Zatswho. The report identifies tips for making a family business successful as well as pitfalls that family members should avoid to make the family business a success. The report also discusses about the kind of ownership that family business should have. Target market of the product has also been defined along with a memo to promote the company’s offerings in a better way. In the end of the report, recommendations have been given to improve the website of Zatswho. QUESTION # 1: Tips for Making Family Business Successful: There are several things that are to be considered in order to make a family business successful. One of the main tips to make a family business successful is that the roles and responsibilities of the partners or family members should be clearly defined and every family member should know what their responsibilities are and what they are supposed to do. Pitfalls That Should Be Avoided To Make Family Business Successful: It is important for every business to grow with the passage of time and in a family business, a stage comes when the growth of the business becomes static and at this point of time it is important to seek advices from outside advisors or people who are not in the family so that the business could have some fresh ideas and it could start growing again. QUESTION # 2: Because there are two people involved in the business therefore it is recommended to have a partnership rather than sole proprietor. As the business would be a partnership therefore the agreement of both Cooper and Schwinoff would be required while taking important decisions. QUESTION # 3: The target market of Zatswho would be parents and grandparents as they would be using these cards to teach their kids about their family members. However other target markets of the product could be day care centers and schools as they could use these cards to make kids recognize different important personalities and even cartoon characters. Along with this the target market of the company also includes the fundraising organizations, special needs children, and adults with the problem of memory loss. QUESTION # 4: Zatswho LLC January 20, 2012 To: Cooper and Schwinoff From: Subject: Proposing Guerrilla Marketing Strategy for Zatswho LLC Guerrilla marketing strategy has become important for the businesses in this highly competitive world, especially for the businesses which are targeting specific and small market segments (Levinson, 2007), as in the case of Zatswho. The company is mainly targeting the grandparents and parents who like to play with their grandchildren and children and the same time wants to increase the memory of the children. Apart from this other target markets include children with special needs, day care centers, schools, fundraising organizations, and seniors with the problem of memory loss. In order to capture the target markets and attract them it is essential for the company to come up with some unique and out of box marketing strategies. The company can go for price discount and cheaper goods strategy, as the target market will not be willing to spend much on such playing items. This strategy of price discount can be supported by different limited time promotional activities like: Placing colorful sticky notes consisting information about the game in the children stores and shops. Holding competition through social media for suggesting best game which can be played using these cards. Different posters can be placed at schools, day care centers, and playing grounds in order to attract more market. Hold different competitions at shopping malls, schools, and playing grounds in which judging the children on the ability of their quickly identifying the pictures. Partnership with some chocolate or confectionary company and come up with special packages. All these promotional activities will allow the company to create a buzz in the market. This will be more like a viral marketing. These activities will create a positive word of mouth for the company which in turn will help it in the process of reaching and attracting the target market. Along with this the company should increase their social presence and become more interactive with the target market in order to increase the sales and profits. QUESTION # 5: Following recommendations have been suggested in order to improve the website www.zatswho.com: There are too many ‘Buy Now’ buttons on the main page of the website. Too many buttons instead of encouraging customers to buy would create a perception that the website is trying hard to sell their product. The footer of the website looks empty and does not go with the overall website as the whole page looks very nice full of colors and full of excitement whereas the footer is dull and white in color. Thus when a visitor scrolls down the website, the whole image of the website created by the colors are disturbed. The menu tabs of the website could have been enhanced to improve the overall website. REFERENCES Levinson, J. (2007). Guerrilla Marketing: Easy and Inexpensive Strategies for Making Big Profits from your Small Business. New York: Houghton Mifflin Company. Read More