CASE STUDY: WEEK 3

ZATSWHO LT

CASE STUDY WEEK 3: Zatswho

1. 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?
Answer:
Suggestion for family members starting a business: “Successful copreneurs learn to build the foundation for a successful working relationship before they ever launch their companies. Some of the characteristics they rely on include:
■ An assessment of how well their personalities will mesh in a business setting
■ Mutual respect for each other and one another’s talents
■ Compatible business and life goals—a common “vision”
■ A view that they are full and equal partners, not a superior and a subordinate
■ Complementary business skills that each acknowledges in the other and that lead to a unique business identity for each spouse
■ A clear division of roles and authority—ideally based on each partner’s skills and abilities—to minimize conflict and power struggles
■ The ability to keep lines of communication open, talking and listening to each other about personal as well as business issues
■ The ability to encourage each other and to lift up a disillusioned partner” (Scarborough 25)
References:
Scarborough, Norman M.. Effective Small Business Management VitalSource eBook For DeVry University, 10th Edition. Pearson Learning Solutions. <vbk:9781256323235#outline(5.8.8)>.

b) Challenges: Family businesses sometimes suffer from negative endings due to the following challenges: “bitter disputes among family members that have crippled or destroyed once-thriving businesses, usually because the founder failed to create a succession plan. To avoid the senseless destruction of valuable assets, founders of family businesses should develop plans for management succession long before retirement looms before them. “ (Scarborough 25)
References:
Scarborough, Norman M.. Effective Small Business Management VitalSource eBook For DeVry University, 10th Edition. Pearson Learning Solutions. <vbk:9781256323235#outline(5.8.7)>. 2. Suppose that Cooper and Schwinoff had approached you when they were launching Zatswho concerning the form of ownership they should use. Which form of ownership do you recommend they use. Why?
Answers:
I would suggest Cooper and Schwinoff register for the LLC (Limited Liability Corporation) ownership. It would be best for them, since they are startup business and the LLC will allow them the flexibility to grow without the limitations on growth numbers.

3. Work with a team of your classmates to brainstorm potential groups of people who make up Zatswho's target market.
Answers:
Groups of people who make up Zatswho’s target market: Two head of household parents ages 24-55. Single head of households ages 24-55. Seniors 55-70. And schools administrators. 4. Help Cooper and Schwinoff develop a guerrilla marketing strategy for Zatswho. Write a two-page memo to Cooper and Schwinoff that highlights the key points of your strategy and the reasoning behind each one.

Answers:
MEMO
TO: Cooper and Schwinoff
FROM: Karyn Oddo
DATE: November 16, 2013
RE: Guerrilla Marketing Strategy
I would like to suggested the following strategies to assist with marketing your Zatswho Products. To begin I want to clarify the following information regarding your products:
You are offering a photo recognition product, which is safe for children, non toxic and durable. The product will hold photos of family members to create an exciting game for children to learn their history. These products will be manufactured in bulk from china and sold in a set. The original invested capital was 30,000, So I am assuming that your budget is tight. Therefore, I would like to share an expensive, unconventional method to sell your products. The method is called a, “Guerrilla Marketing Strategy.”
A Guerrilla marketing strategy as referenced by Wikipedia is defined as follows: “an advertising strategy in which low-cost unconventional means (graffiti, sticker bombing, flash mobs) are used, often in a localized fashion or large network of individual cells, to convey or promote a product or an idea. The term guerrilla marketing is easily traced to guerrilla warfare which utilizes atypical tactics to achieve a goal in a competitive and unforgiving environment.
The concept of guerrilla marketing was invented as an unconventional system of promotions that relies on time, energy and imagination rather than a big marketing budget. Typically, guerrilla marketing campaigns are unexpected and unconventional, potentially interactive, and consumers are targeted in unexpected places.
The objective of guerrilla marketing is to create a unique, engaging and thought-provoking concept to generate buzz, and consequently turn viral. The term was coined and defined by Jay Conrad Levinson in his book Guerrilla Marketing (1984). The term has since entered the popular vocabulary and marketing textbooks.”(Barnes, 2013)
Reference:
Barnes, L. (2013) Guerrilla Marketing Strategy. Retrieved on November 16, 2013 from http://en.wikipedia.org/wiki/Guerrilla_marketing_warfare_strategies Make a suggestion of a Guerrilla Strategy
5. Visit the Zatswho Web site at www.zatswho.com. What recommendations can you make for improving the site? Answer:
I viewed the website, the positives are: It is bright and color, lots of pictures, great certificates of recognition promoting the product. The things I would change would be: Add some cultural diversity to the pictures on the site, I would also consider participating in some charity efforts (give back to some organization). Consider manufacturing in the U.S.A, more consumers are looking at buying US made only products due to the ethically issues surrounding wages. I would also de-clutter the site. It almost becomes overwhelming with so much to see.