< p style="text-align: justify" > Trisha Cooper and her daughter Carrie Schwinoff teamed up to establish their own business, Zatswho. The inspiration for this venture arose when Trisha was playing with her granddaughter, utilizing photos in plastic frames as flashcards to teach about family members. With a background as a CFO for a telecommunications company spanning 13 years, Trisha presented the idea of photo flashcards to her daughter, leading them to become partners in the company. Our conversation revolved around five key questions concerning family members collaborating in a professional setting and the challenges they may encounter when entering a partnership.
Discussing the marketing strategies and web page structure of www. Zatswho. com, we also address the question of whether a mother-daughter team can be successful entrepreneurs.
m Be Successful Entrepreneurs? Questions and Responses
Q1. What tips can you offer Cooper and Schwinoff about family members who start and run a business together? What pitfalls would you warn them to avoid? When considering running a business with family, one must consider how hard the day-to-day job of being a family owner can be.
Emotions can interfere with or even hinder business decisions and take-overs, potentially leading to operational downfall. Disagreements are inevitable, but it is important to prevent these problems from affecting the business and negatively impacting non-family employees who may have personal motives. To avoid many of these pitfalls, individuals must display strength and assertiveness when making decisions involving family members. It is essential to clearly outline plans, assign business responsibilities, and document them in writing as a means of mitigating these
challenges.
It is often difficult to achieve this, so hiring someone from outside the family to oversee operations can be considered to manage unsettling situations. All individuals involved in making business decisions should be able to communicate effectively and handle their respective roles within the company. This will facilitate open communication and build trust regarding individual decision-making processes.
Q2. If Cooper and Schwinoff had asked for your advice on the type of ownership to use when starting Zatswho, what type of ownership would you suggest and why?
When deciding to start the company with her daughter Trish and Carrie, I would suggest that they consider a partnership ownership arrangement. This involves two or more individuals sharing the responsibility of running a single business. It appears that Trish and Carrie possess complementary skill sets and work well together. One of the benefits of choosing a partnership ownership model is that it is relatively simple to set up, and having multiple owners can facilitate fundraising for the business. Moreover, opting for a general partnership structure offers certain legal advantages for launching a new venture.
Choosing a general partnership offers several advantages. Firstly, there is no obligation to register with the state or pay substantial fees, unlike corporations or limited liability companies. Furthermore, filing taxes becomes easier as there is no requirement to submit separate returns for both the company and the owner. Partners must create a written partnership agreement that covers important aspects like profit/loss distribution, daily responsibilities, and procedures in case of significant life events such as death or retirement.
Q3. Collaborate with your classmates to generate ideas for different
groups of people who are part of Zatswho's target market. A target market refers to a specific group of potential customers that Zatswho has identified as potential buyers of their product. When determining the target group, we need to identify the characteristics of buyers who would be interested in purchasing this product. Zatswho offers a picture flash card product that allows interchangeable photos to be inserted. This concept is especially beneficial for young children who want to learn about loved ones who are not frequently present.
I believe the target market for this product includes military families, families that have relocated from their primary family, and small children who benefit from having a familiar face quiz. Particularly with military families, where parents and siblings may be deployed during a child's early years, these cards help children adjust to seeing and recognizing their loved ones when they return home.
Assist Cooper and Schwinoff in creating a guerrilla marketing plan for Zatswho in Q4.
Write a two-page memo to Cooper and Schwinoff that highlights the key points of your strategy and the reasoning behind each one. See Page 6. Q5. Visit the Zatswho Web site at www. zatswho. com. What recommendations can you make for improving the site? The most important part of a website is its initial view, especially the home page. It should immediately showcase the creativeness of the product. The Zatswho web page includes words in different fonts and colors, external links to social sites, and a video of the product located at the bottom of the page.
I believe that there is a lot of scattered information on this
website as an online consumer. To improve its usability, I recommend moving the overcast of information and social media details from the left pane to the bottom. Moreover, it would be better to remove the twitter feed and replace it with a link to Twitter for those interested in viewing it. The main focus of the home page should be on what Zatswho offers, providing a product overview and demonstrating examples of how their target market can use their product. Lastly, I suggest removing the coupon email registration from the left pane and considering placing it on the product-ordering page instead.
After reviewing the initial business plan and product information, my marketing team has created marketing strategies and ideas for your consideration. We are enthusiastic about this product's potential and eager to help you achieve success. One of our main strategies is to utilize guerrilla-marketing, a unique approach that surprises consumers. This innovative advertising method complements the Zastwho brand.
Zatswho's target market comprises small children, parents, military families, teachers, and special need children. To reach these consumers, we must concentrate on disseminating information about our products through well-known and popular venues. These include hospitals, doctor’s offices, daycare facilities, story time locations such as libraries, military family support sites, schoolteacher conferences, and online social media sites. Our strategy will involve creating brochure pamphlets, partnering with various online family retailers and large city areas, and utilizing online social networking sites.
Creating brochure pamphlets is a visually persuasive way to convey a clear and focused message about the product. The pamphlets provide a general overview of the product and include testimonials from customers. They can
be distributed in family information bags for moms, daycare facility free handout mailboxes, and in family support newsletters for when soldiers are leaving their families for a certain period of time. To further encourage purchasing, free shipping coupon codes can be added.
The brochure can be designed like a flash card with a generic photo labeled "Guess Who" to reflect the product's main concept. The choice of colors should be attractive to both parents and children, while considering production and printing costs. This will give a good idea of what the product has to offer. Collaborating with family-oriented retailers will provide recommendations from reputable vendors and businesses. This creates the opportunity to display posters within their stores or mention them on their online business websites.
At family events with these retailers, you can provide samples to collect feedback and recommendations from customers about the product. The primary objective is to get word-of-mouth referrals if customers find the product beneficial. Likewise, the idea of using stickers at my retail locations can also be implemented in doctor's offices and educational facilities. For instance, a primary doctor's office could showcase pictures of various doctors in the waiting area.
While waiting to see their primary doctor, children can utilize the product to become acquainted with the nurse and doctor they will be interacting with. Similarly, parents can employ this method to familiarize young children with their classroom teachers. At any time, parents can refer to photos in the hallways and ask questions about the teachers. The online social networking sites like blogging sites, Facebook, Twitter, and LinkedIn have emerged as the communication channels of this new
era.
These sites have an attractive and captivating appeal that grabs the attention of consumers. The use of blogging allows online users to become more familiar with the products and users. By utilizing popular blogging sites and referring to the products' websites, the blog can include a user's personal experience in deciding to use the product and how they implemented it in their home. These social media websites receive millions of daily hits, and membership is free. Businesses can create business profiles on these sites and share compelling ideas that attract customers to visit their business websites.
- Advertising essays
- Audience Theory essays
- Competitor Analysis essays
- Consumer essays
- Marketing Management essays
- Marketing Mix essays
- Marketing Plan essays
- Marketing Research essays
- Marketing Strategy essays
- Point Of Sale essays
- Price essays
- Procurement essays
- Product essays
- Product Differentiation essays
- Promotion essays
- Promotion And Marketing Communications essays
- Retailing essays
- Trademark essays
- Anheuser-busch essays
- Brands essays
- Detergent essays
- Product Placement essays
- Research Design essays
- New Product Development essays
- Advertisement essays
- Brand essays
- Sales Promotion essays
- Advertising campaign essays
- Consumer behaviour essays
- Offer And Acceptance essays
- Wal-Mart essays
- Discover essays
- Accounting essays
- Andrew Carnegie essays
- Automation essays
- Business Cycle essays
- Business Intelligence essays
- Business Model essays
- Business Operations essays
- Business Software essays
- Cooperation essays
- Cooperative essays
- Corporate Social Responsibility essays
- Corporation essays
- Customer Relationship Management essays
- Family Business essays
- Franchising essays
- Harvard Business School essays
- Harvard university essays
- Human Resource Management essays
Unfortunately copying the content is not possible
Tell us your email address and we’ll send this sample there.
By continuing, you agree to our Terms and Conditions.