Reference no: EM132686474

The Tale of Pets.com The Pets.com sock puppet signaled an advertising frenzy fa a brief Period in the late 1990s. These ads were so %Pular that the company's spokesperson, a sock puppet 009. ended up being the company's best-selling product. Unfortunately, sock puppet sales alone were not enough to sustain the business. Selling dog food and other pet products online did not pan out the way that the young Pets.com entrepreneurs had hoped or the way that the venture capitalists who supplied them with US$110 million had counted on. Pets.com made the crucial error of buying expensive advertising slots and going public before the company had generated significant revenue. In 2000. Pets. corn announced that it was selling all its assets, including the rights to the sock puppet. Perhaps running a successful business takes more than producing catchy sock puppet commercials. Had the company given more thought to its target market, maybe this company wouldn't have ended up in the doghouse.13

Note: Length for each answer should be between 10 to 14 lines

1. Who was the target market for this company's products?

2. What are some of the real and imagined errors this company's management made?

3. Before they started the business, how could these entrepreneurs have determined whether pet owners would buy pet food online?