...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? Answer: Why children like staffed animals? Why children like Teddy bear over other staffed animal? The answer of the above two question will give you the answer “what is the needs and wants of Build-A-Bear customers?” as well. First of all, children like to play. They always wish to play with those animals and superheroes that they see in the Television screen and other media especially in cartoons. As Build-A-Bear’s customers are almost children, their need is to play. Now, come to the second question, it focuses of a specific toy renowned as “Teddy Bear”. If you think deeply about the question, you will surely find something irrelevant. You may question, who have told you that all the children throughout the world like Teddy bear? Yes you are right, and the difference between needs and wants is embedded into your question. Most of the children of western country like Teddy bear, but from our perspective as an inhabitant of a third world country, the situation is much different. The reason behind it is want – the form of human needs shaped by culture, habits and individual personality. As children of western countries are familiar with the animal teddy bear physically their want is to play with the animal and that’s why Teddy bear is a renowned staffed animal in those countries...
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...examples of needs, wants, demands that Build-A-Bear customers demonstrate, differentiating each of these three concepts. Needs: 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. Build-A-Bear customers are children, who have needs of belonging (joining the Build-A-Bear "club."), affection (creating and caring for another being), and self-expression (the ability to create a product that reflects elements of the self). Wants: 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. Children want a place where they can get a toy of their choice where they have freedom to make a toy like bear of their own choice by choosing, stuffing, stitching, and naming the toy (bear). Demands: Demands are “wants,...
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...Maxine Clark is the founder and former CEO of Build-A-Bear. She graduated from the University of Georgia in 1971, and moved to Washington D.C. shortly after (Carr, 2016). In Washington D.C. she initially worked for Macy’s ultimately becoming the President of Payless, where she was able to gain superior business experience within multinational companies. In 1976 Clark moved to Saint Louis, and then in 1997 she founded founded Build-A-Bear. Her inspiration stemmed from her friend named Katie who was 10 years old at the time (Clark, M., 2012, pg. XYZ). Katie wanted to build her own Beanie Babies as a primitive craft, when she couldn’t find any that she liked. Maxine Clark took this simple phase very literally and used it as the inspiration for...
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...is the involvement of customers, producers, suppliers, and other stakeholders in the global marketing process. Global marketing therefore reflects the trend of firms selling products and services across many countries. Drawing on an incomparable breadth of international examples, Svend Hollensen not only demonstrates how global marketing works, but also how it relates to real decisions around the world. This book offers a truly global approach with cases and exhibits from all parts of the world, including Europe, the Middle East, Africa, the Far East, North and South America. It provides a complete and concentrated overview of the total international marketing planning process, along with many new, up-to-date exhibits and cases, which illustrate the theory by showing practical applications. • Extensive coverage of hot topics such as glocalization, born globals, value creation, value net, celebrity branding, brand piracy, and viral marketing, as well as a comprehensive new section on integrated marketing communication through social networking. • Brand new case studies focus on globally recognized brands and companies operating in a number of countries, including Build-A-Bear Workshop, Hello Kitty, Ralph Lauren and Sony Music Entertainment. • Global Marketing ‘Svend Hollensen writes with real authority and insight having been involved in global marketing both as a manager and academic. His book provides a framework within which managers can develop...
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...Build-A-Bear: Build-A-Memory In the late 1990s, it was all about the dot-com. While venture capital poured into the high-tech sector and the stock prices of dot-com startups rose rapidly, the performance of traditional companies paled in comparison. This era seemed like a very bad time to start a chain of brick-and mortar mall stores selling stuffed animals. Indeed, when Maxine Clark founded Build-A-Bear Workshop in 1996, many critics thought that she was making a very poor business decision. But as the company nears the end of its first decade, it has more cheerleaders than naysayers. In 2005, one retail consultancy named Build-A-Bear one of the five hottest retailers. The company hit number 25 on BusinessWeek’s Hot Growth list of fast-expanding small companies. And founder and CEO Maxine Clark won Fast Company’s Customer-Centered Leader Award. How does a small startup company achieve such accolades? THE PRODUCT On paper, it all looks simple. Maxine Clark opened the first company store in 1996. Since then, the company has opened more than 370 stores and has custom-made tens of millions of teddy bears and other stuffed animals. Annual revenues reached $474 million for 2007 and are growing at a steady and predictable 15 percent annually. After going public November of 2004, the company stock price soared 56 percent in just two years. Annual sales per square foot are $600, roughly double the average for U.S. mall stores. In fact, Build-A-Bear Workshops typically earns back almost...
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...Title – Principles of Marketing Module Code - 4BUS1010 Academic Year - 2012/13 Semester - A Module Leader – Caroline Wilson Contents: 1. Contact details for the module leader (and teaching team) Name | Room | Phone extension | E mail address | Drop in & feedback sessions | Caroline Wilson | M230 | | c.wilson4@herts.ac.uk | Mon 10-11 am & Tues 11am -12pm | Hamad Khan | M218 | 2791 | m.khan42@herts.ac.uk | tba | Grace He | M218 | 2791 | p.he1@herts.ac.uk | tba | Neil Brooks | M218 | 2791 | | tba | Jonathan Cahill | M218 | 2791 | | tba | Maria Thomas | M249 | | m.thomas@herts.ac.uk | tba | Sarah Jayne Hill | M218 | 2791 | | | 2. Module aims This initial marketing module, which assumes no prior knowledge of marketing, aims to introduce students to some of the key ideas of marketing and is suitable for both marketing and non-marketing students. It examines the environment within which organisations operate and the role of marketing within the organisation in order for students to be fully able to understand the context within which marketing personnel work, and the different activities which are carried out under the umbrella term of ‘marketing’. Concepts central to an understanding of marketing are considered: 4 P’s (product, price, promotion and place), segmentation, targeting and positioning, services marketing and buyer behaviour. * Develop a basic understanding of the key concepts of marketing; & * Understand...
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...The Concept of the Marketing Mix' NEIL H . BORDEN Harvard Business School Marketing is still an art, and the marketing manager, as head chef, must creatively marshal all his marketing activities to advance the short and long term interests of his firm. E it observe how an or colorful may catch wide I HAVaptalways foundterminteresting toon, gain of a usage, and help to further understanding concept that has already been expressed in less appealing and communicative terms. Such has been true of the phrase "marketing mix," which I began to use in my teaching and writing some 15 years ago. In a relatively short time it has come to have wide usage. This note tells of the evolution of the marketing mix concept. NEIL H. BORDEN is professor emeritus of marketing and advertising at the Harvard Business School. He began teaching at Harvard as an assistant professor in 1922, became an associate professor in 1928, and since 1938 has been a full professor. He has won many awards, and received this year a special Advertising Gold Medal Award for Education. He is a past president of the American Marketing Association. He belongs to Phi Beta Kappa and the American Economic Association, and he is a public trustee of the Marketing Science Institute. He has published widely, and one of his books. The Economic Effects of Advertising, published in 1942, was based on a study conducted under an ARF research grant. The phrase was suggested to me hy a paragraph in a research bulletin on...
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...The Concept of the Marketing Mix' NEIL H . BORDEN Harvard Business School Marketing is still an art, and the marketing manager, as head chef, must creatively marshal all his marketing activities to advance the short and long term interests of his firm. E it observe how an or colorful may catch wide I HAVaptalways foundterminteresting toon, gain of a usage, and help to further understanding concept that has already been expressed in less appealing and communicative terms. Such has been true of the phrase "marketing mix," which I began to use in my teaching and writing some 15 years ago. In a relatively short time it has come to have wide usage. This note tells of the evolution of the marketing mix concept. NEIL H. BORDEN is professor emeritus of marketing and advertising at the Harvard Business School. He began teaching at Harvard as an assistant professor in 1922, became an associate professor in 1928, and since 1938 has been a full professor. He has won many awards, and received this year a special Advertising Gold Medal Award for Education. He is a past president of the American Marketing Association. He belongs to Phi Beta Kappa and the American Economic Association, and he is a public trustee of the Marketing Science Institute. He has published widely, and one of his books. The Economic Effects of Advertising, published in 1942, was based on a study conducted under an ARF research grant. The phrase was suggested to me hy a paragraph in a research bulletin on...
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...Deceptive Marketing Deceptive Marketing Marketing is a well-known strategy that most, if not all, businesses use to create awareness of the products or services that they are offering to customers. Our textbook defines marketing as, “the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return” (Armstrong & Kotler, 2012, p. 5). However, some companies have taken advantage of its effectiveness to deceive customers. This paper will delve into the Whole Foods marketing deception. Whole Foods Market (WFM) is one of the most popular food markets in the United States. As its name suggests, it is supposed to sell foods that have undergone little or no processing or refinement and have no added ingredients. The stores used to have a very large logo on the side of the building saying, “Nothing Artificial, Ever!” Perhaps this is one of the biggest factors that led to their popularity, because most people shop at Whole Foods Market because of the health benefits associated with them. In October 2012, a controversial video was released exposing WFM. The video had evidence that WFM had been selling genetically modified (GM) foods to the public without their knowledge. The video shows customers who regularly shop at WFM that had been under the impression that the food there was completely organic. In an interview, they expressed their shock and dismay when they discovered that they had been...
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...multi-sensory 4-D movie (3-D glasses with moving seats) and get an inside look at the bottling process. You can view more than 1,200 artifacts from around the world that, until now, have never been displayed to the public before. You can even give our 7-foot CocaCola Polar Bear a big hug! And of course, a World of Coca-Cola favorite—the tasting experience, will give you a refreshing opportunity to sample over 100 flavors from around the world. All this and much more make the World of CocaCola a unique and must-see Atlanta experience! A visit of the entire attraction is estimated to last an average of 2 hours. Check out a timeline featuring key milestones in the history of the World of CocaCola. 1990: The original World of CocaCola is established at Underground Atlanta as an attraction dedicated to the heritage of The CocaCola Company. 2000: By 2000, The CocaCola Company accumulates approximately 20 acres of land in downtown Atlanta near Centennial Olympic Park. 2002: The CocaCola Company announces plans for development of the land to help spur ongoing revitalization of downtown Atlanta. 2002: The CocaCola Company donates nine acres of this land to the Georgia Aquarium. The company commits to design and build a new World of CocaCola to be located next to the Georgia Aquarium. 2003: Georgia Aquarium construction begins....
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...Have a look at the wide variety of stakeholders that form a key component of Mallen Baker's definition of CSR, including the diagram at http://mallenbaker.net/csr/definition.php. How can an organization begin to balance such an array of competing stakeholder interests? What is your source for Google (url). According to Mallen Barker and his definition of CSR companies are responsible for the management of their business and the positive or negative social impact they can cause. Based on this principle, if an organization wants to maintain a balance between the best interests of all stakeholders it will have to start by maintaining quality of management. In other words, CSR is a company’s commitment to the performance of improving the quality of life for the community and a society. A good example is the company Google and their famous charter “Don’t be evil.” By always keeping to their charter, and having it be so simple that they can often easily answer to themselves about whether certain actions fall under their ideals, Google was able to make the difficult task of balancing the interest of all stake holders more manageable. I believe that by clearly stating and documenting simple values to be followed a company can look to do what is right in the face of competing stakeholder interests, and feel comfortable in the decisions they make. 2. Look at some of the causes that Ben & Jerry's promotes at http://www.benjerry.com/activism/inside-the-pint/. a. Do you agree with...
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... doesn't it? But every day, countless new product and service ideas are conceived--never to be born because they're not properly brought to market. In fact, a large percentage of the calls my company's coaches receive are from small-business owners who want exactly this sort of help. And we carefully guide them through these seven important steps that will help them successfully bring their new products and services to market. 1. Study your competition. Many business marketing classes teach participants how to perform a SWOT (strengths, weaknesses, opportunities and threats) analysis. You have to start by taking a serious look at your competitors. Make a list of the businesses that offer products or services similar to the one you plan to launch. Even if you think your new product or service is entirely unique and without existing competition, it's important to put yourself in your prospective customers' shoes and imagine what they might buy in lieu of what you plan to offer. Once you decide whom your competitors will be, review their marketing materials, including their ads, brochures and websites. Evaluate how your new product or service will stand up against what's already being offered, in what ways you'll excel, and which companies or their offerings pose the greatest threats to your success. 2. Target the ideal customer. To successfully launch your new product or service with minimum financial outlay, it's essential to focus exclusively on the prospects you believe...
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...When company satisfy public needs The marketing system of all companies all over the world has been accused of adding to several “evils” in all societies at large, unlike other business functions like accounting or finance, people in marketing interact directly with the public even studies show that marketer and salesperson rank poorly in ratings of the most trusted professions. Critics have charged that the marketing system urges too much in material possessions. People are judged by what they own rather than who they are, phrases such as “greed is good”, “shop till you drop” seemed to characterize this time and this world where the false wants and the excessive materialism dominate. The critics do not view this interest in material things as a natural state of mind but rather as a matter of false wants created by marketing. Businesses hire advertisement’s means to stimulate people’s desires for goods, without forgetting the role of advertisement which uses the mass media to create materialistic models of a good life. People work harder to earn the necessary to make money with them, their purchases increase the output of the multinational or even the national industry, and industry in turn uses the advertisement to stimulate more desire for the industrial output. So when businesses will conversely react and try to establish and improve social goods? Corporate social responsibility has been defined broadly as involving a firm taking “actions that appear to further some...
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...flowers often seen at this time of year. But more recently a late winter freeze has buzz sawed through one flowery bulb after another, as hundreds of daily deals upstarts have fallen by the wayside because they couldn’t develop in the harshly competitive climate. Could a big one—LivingSocial—actually be the next to wither away? Sources familiar with the company say they wouldn’t be surprised if the industry’s No. 2 player, trailing only Groupon, was sold to a larger company or liquidated piece by piece by spring 2014. They say LivingSocial has lacked the speed to adjust to a space that’s increasingly becoming more complex. Even worse for this nascent field, the marketplace has gotten a lot more crowded. Dozens of outfits from Yelp to marketing giants such as American Express and Bank of America—to even companies that enable retailers to set up their own offers—now provide innovative ways to link customers with local merchants. Forrester Research analyst Sucharita Mulpuru-Kodali says neither LivingSocial nor Groupon are too big to fail—even if the latter still has cash reserves in the billions from its 2011 initial public offering. “The daily deals space is saturated,” she says, “and it never provided tremendous value to merchants. And that was the fundamental flaw in the business model. They’ve survived over the last few years even when these truths were obvious because they’ve reduced the margins they ask of merchants, they extend the length of offers and they make more offers...
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...Letter CMNALLE/301/2014 regarding technical and presentation requirements, referencing techniques and plagiarism. Name: Palesa Moatshe Signature: P.Moatshe Student number: 35772085 Date: 2 September 2014 Witness: B. Moatshe PROMOTIONS AND DISTRIBUTION MANAGEMENT TABLE OF CONTENTS PAGE DIRECT MARKETING OBJECTIVES 3 1. To generate leads 3 2. To sell direct 3 3. To generate store traffic 3 4. To manage relationships for future sales 3 5. To inform and keep in touch 4 6. To recognise and reward 4 SOURCES CONSULTED 4 Direct Marketing Objectives There are specific direct marketing objectives which can be relevant to all three main categories, namely, acquisition, retention and financial. The main objectives are the following: 1. To generate leads -This is the key area of expenditure for direct marketing. To achieve this objective, the key consideration is to calculate how many of the leads can actually be handled by the sales force. Calculate the number of leads which can be handled, then estimate the scale of promotion required to produce these numbers bear in mind that like all direct activities, the communication can be staggered and controlled over a period of time to provide a regular flow of leads. The object of Woolworths direct mail, web page, e-mail or ad should not be to make the sale immediately, but merely to get prospects to raise their hands and identify...
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