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?
Need is defined as a state of felt of deprivation or lacking something. 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 something whether the child belongs to a rich or a poorer family. The second thing is we can notice that the new born babies love to play with technology means they want creativity. They want to do something that is new and unique.
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 animals. 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.
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. Customers demand specific products that add up to the most valuable and satisfaction. 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.
2. In detail, describe all facets of Build-A-Bear product. What is being exchanged in a Build-A-Bear transaction?
Ans. Build-A-Bear is a company that makes teddy bears and other stuffed animals. They have introduced a new setup in their...
Please join StudyMode to read the full document