1.Give examples of needs, wants, and demands that Build-A-Bear customers demonstrate, differentiating each of these three concepts. What are the implications of each on Build-A-Bear’s actions?
Needs – Build-A-Bear has in found an untapped niche as a social need, affection and self-expression. Buy creating your own personalized friend from start to finish it allows for customers to have affection towards the stuffed animal. The ability to customize the animals clothing accessories and look allows the customer to create a friend all their own and allow them to use self-expression in the creation process.Wants – Where a person needs affection they don’t need it from a stuffed animal. Build-A-Bear has capitalized on peoples want to always have more affection and self-expression.
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Demands - The more individual the product the more of a want it has created as the customer feels more valued and believes they are getting more value added by the amount of attention they receive during the process.
2. In detail, describe all facets of Build-A-Bear’s product. What is being exchanged in a Build-A-Bear transaction?
Moneys are exchanged for an experience. Costumers are able to select their new friend and literally build it (somewhat). The consumer goes around the store stuffing, fluffing, giving their friend a voice, dressing them, and selecting accessories. They get the experience of giving their friend an official name with a birth certificate. At the end of this whole experience money is paid to Build-A-Bear and the customer gets to take their new friend home.
3. Which of the five marketing management concepts best describes Build-A-Bear Workshop?
I had a difficult time deeming which concept fits Build-A-Bear best as there seem to be a couple that intertwine. I have decided on Marketing as the Build-A-Bear Workshop seem to have a “sense and respond method to their products. Where the service has remained the same the company is always brining in new desired products and providing customers with what they want more so then with just make and sell and giving them a memorable experience.
4. Discuss in detail the value that Build-A-Bear creates for its customers.
Build-A-Bear enables customers to get a product that matches their requirements more closely to their personal choices and preferences compared to competitors which generally do not have the hands on experience or the detail of customization (Production Concept). This is not the experience consumers have with other businesses that offer mass produced stuffed animals with standard designs and features. It is offering the customer almost unlimited choice in the specialization of the product. This also gives added value to the customer who experience the joy and satisfaction of creating an individual item (Name and Birth Certificate).
5. Is Build-A-Bear likely to be successful in continuing to build customer relationships? Why or why not?
Shot answer – Yes
Detailed answer – Build-A-Bear is a company that in my opinion has nowhere to go but up. They provide one of the best experiences/products in the market and they are on par with price but provide more value than competitors. The company is now getting to an age that children that once enjoyed the experience of creating a Build-A-Bear product are now bringing in their children to share the experience that they had growing up.
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