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?
State of lacking something is described as need. According to this case study, we can say that the children needs are entertainment, fun and creativity. We know that every child want to play with teddy bear whether the child belongs to a rich family or a poor family. The second thing is we can notice that the new born babies love to play with toys they want to create something out of it. They want to do something that is new.
Wants are basically “needs, that are fulfilled according to the costumer’s personality and culture.” In this case study, we can observe that the target customers are children and children love to play with toys especially bear’s. Due to the advancements in technology, the children are being something which they really want and know to be the only source of delightfulness. Hence, the company has added different assembly lines and clearly labeled work stations. Those children could go there and build their own kind of bear.
Demands are “wants, backed up by buying power”. The Build-A-Bear company gives experience to their costumers of creating a stuffed animal at a very low cost as compared with others companies. Customers demand specific products that add up to the most valuable and satisfaction. They also bring great relationship with their customers. Among the most relevant examples we can mention are both new store locations and accessories. “Mini-scooters and mascot bears at professional sport venues” are also specific ideas that were interpreted as customer`s demands by the company.
In detail, describe all factors of Build-A-Bear’s product. What is being exchanged in Build-A-Bear transactions?
The options for stuffed toys like clothing, accessories, voice box and birth certificates. Experience would...
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