SUBMITTED BY: HIRA NOOR DATE OF SUBMISSION: 4 October, 2010
BUILD A BEAR
Maxine Clark opened a company store ³Build A Bear´ in 1996. In that era people were interested in dot-coms . Opening a retail shop at that time was not rational. But the founder of the company store found a new way to attract customers and to satisfy them. As its name shows it is a workshop where bear are built but not by the worker but by the customers themselves. This was the concept that took Build A Bear to the highest position in the retail stores. Maxine Clark established a system where children come and by moving to various work stations step by step they make their own toy or stuffed animal unlike any other made anywhere in the world. This empowerment gives the customer more value than any other company. Maxine Clark sells the experience and not the product to the customer. This affordable empowerment of $10 to an average of $25 is the key success of Build A Bear. Maxine Clark takes all the ideas from the customers. It is a completely customer centric organization. This participation of customer has made it too successful that its annual sales hae rose to $359 million for the year 2005 and is consistently increasing 20% per year. Build A Bear believes on customization and they think of their selves as an experience not the product.
Q NO 1: Give examples of need, want and demand that Build A Bear customer demonstrate, differentiating each of these three concepts. What are the implications of each on Build A Bear¶s actions? NEED, WANTS AND DEMAND: It is one of the physical needs of a child toplay with a toy. So, we can say that it is their need for toys that attracts the customers (children) to Build A Bear. Though the customers of Build A Bear need a stuffed toy but not an ordinary, premade toy. They want a toy that they have created themselves according to their cultures,...