Marketing Management Build-a-Bear

Only available on StudyMode
  • Topic: Build-A-Bear Workshop, Teddy bear, Teddy bears
  • Pages : 5 (1686 words )
  • Download(s) : 83
  • Published : June 11, 2012
Open Document
Text Preview
Marketing management

Assignment

Raffles University
Ulaanbaatar, Mongolia

Lecturer: Nazaretha C. Villacruz
Done by: Erdenezuchi Purevtseren

Word count: 1591
Introduction

Build-A-Bear Workshop is a very successful organization. It is a place where small children to big kids can play and enjoy the place. The founder of Build-A-Bear is Maxine Clark. She had the idea of making a teddy bear when she was only 10 years old. At that time she wanted many different types of teddy bears. And she could never find a suitable one. That is when she started making her own teddy bears. The inspiration became very important to her life. Soon people realized that having a custom made teddy bear was a great idea. And children loved it. At first people didn’t think that Build-A-Bear would be ultra successful. But it actually happened. In the first few months Build-A-Bear made hundreds of thousand dollars. The first Build-A-Bear Workshop store opened in October 1997 at the Saint Louis Galleria. Then Build-A-Bear spread around the world. Build-A-Bear was truly a new idea. That’s why it was so successful. The difference between Build-A-Bear and its competitors is that they can make children’s wishes come true. Kids can choose their own teddy bears and also dress them with their own style. It’s like their goal is to make the teddy bears to life. That’s why Build-A-Bear Workshop very successful.

1. Build-A-Bear Workshop customer’s needs wants and demands are very important for the company and for the customers itself. Being clear and certain in needs, wants and demands is one of the important keys to success for a company. Build-A-Bear customer’s need is pretty clear. A need is something that comes from within a person. It could be food or drinks. So Build-A-Bear must think from the customer’s point of view. If I were a customer what would I expect from this company? Then they can find a solution. The answer is simple. The customers need is to be entertained and to be creative. Want is slightly different from needs. It’s the thing that people wishes from the outer side. A good example of a want is computer technology. But from Build-A-Bear’s point of view the customers want cute warm and nice fluffy teddy bears that they always wished for. It doesn’t only have to be bears it could be any other animals like a furry elephant or giraffe. When want is controlled by the buying ability of a person then it becomes demand. People have many wants but only when there are the resources and products then it becomes a demand. Build-A-Bear customer’s demand is to have a cheap price and good quality products along with the best service and entertainment.

2. Build-A-Bear’s product is multi faceted. In other words there are many aspects in Build-A-Bear Workshop. It can be checked and analyzed in different steps, from the most concrete to the most abstract. The first steps of the products are to know the specific details of the tangible item. By knowing these details Build-A-Bear can know what kind of stuffed animal and what style of clothes they should wear along with the voice box, name, and even the birth certificate is a part that the customer truly desire.

The next part is experience. At this stage the customers the ability to personalize and customize every part of the product. This will also include the creating a teddy process where the customers can take a product which they also was a part at the very beginning. Even the little things like waiting in line and watching how the furry toys are being made is also a part of the experience. The small things can be very valuable to the customers. That’s why Build-A-Bear is different from their competitor and is very successful. This is also how Build-A-Bear differentiates from its competitors.

3. The five marketing management concepts that best suite Build-A-Bear is the marketing concept. Like any business without customers and understanding what the customer want a...
tracking img