Build-A-Bear Assignment

Question #1: Give examples of needs, wants and demands that Build-A-Bear customers demonstrate, differentiating each of these three concepts.
Needs: Needs are defined as states of felt deprivation. They include basic physical needs (food, shelter, warmth, etc.), social needs (affection and a sense of belonging) and individual needs (knowledge and self-expression). These needs are a part of the human makeup; they are not created by marketers. The Build-A-Bear customers are mainly children and all children have a need of entertainment, love & affection, comfort and a sense that they belong. Build-A-Bear fulfills these needs by offering an experience that provides them with entertainment, creates a new friend for them to love & bring comfort and by joining the Build-A-Bear “Club” they get a sense of belonging.
Wants: Wants are defined as the form needs take when shaped by culture and individual personality. In Build-A-Bears case children want the opportunity to personalize their new friend based on their individual preferences. Starting from the “Choose Me” station, where they can select the type of stuffed animal, thru to the “Name Me” station, the children have control, giving them a sense of individual satisfaction. Culture shapes the sense of belonging need into a want by influencing the children to want to belong to the “Build-A-Bear Club”. Other children who have shared the experience already belong making the new customers want to as well.
Demands: Demands are defined as wants that are backed by buying power. Build-A-Bear offers various types of options / choices, such as clothing & accessories, to fulfill these demands. The more the customer demands of the experience with his or her choices, the more the price increases.

Question #2: In detail, describe all facets of Build-A-Bear’s products. What is being exchanged in a Build-A-Bear transaction?
Build-A-Bear’s “product” is multi-faceted. It includes the physical product itself (stuffed animal), services provided to the customer and the experience in which the customer participates in.
1) The physical product, the stuffed animal, is the basic aspect of Build-A-Bear. The various stations provide the customer with options for the customized stuffed animal. These stations are as follows: they begin at “Choose Me” – where the customer selects the type of stuffed animal. The customer then proceeds to “Hear Me” – where the voice box is chosen; then on to “Stuff Me” – the station where the toy is filled with stuffing and where the customer places a small heart inside their new friend. The “Stitch Me” phase comes next where the stuffed animal is sewn shut. Next is “Fluff Me” - where the customer can groom their stuffed animal before moving on to “Dress Me” – this is the station where clothing and accessories are chosen. Once dressed and accessorized, the customer can create a personalized profile for their friend at the “Name Me” station. The customer receives a birth certificate with the birth date and name that they chose. And finally they can proceed to the “Take Me Home” station where they provide payment and receive a “Cub Condo” carrying case to take their friend home in!
2) The services that Build-A-Bear provides to their customers are another aspect. Some of these services include: the guidance the “Bear Builders” (store associates) provide throughout the phases of the bear-making process; the “Build-A-Party” program where guests are able to plan a customized party for events such as birthday parties or field trips; and the websites including “Bearville.com” and “buildabear.com” - providing information and entertainment to its customers.
3) The largest aspect of Build-A-Bear is the experience! The ability to customize and personalize each part of the product and partake in the creative process makes the Build-A-Bear experience unique. Guests who visit a Build-A-Bear Workshop store enter into a recognizable and distinct teddy bear themed environment where each step of the bear making process adds to the experience. Because the process is so much fun, even things that are normally a hindrance, like waiting in line, actually enhance the experience! By the time the child leaves the store they not only have a customized stuffed animal to play with and love but that toy comes along with a memory which was created in the experience.
A Build-A-Bear transaction exchanges a couple things. First and for most, value and satisfaction is being exchanged. Build-A-Bear provides value to its customer by enhancing the customer experience and providing the personalization. This in turn satisfies the customer and builds a loyal relationship which is how the company captures the value from the customer. The second exchange is the desired object (the stuffed animal), which is purchased in exchange for money.

Question #3: Which of the five marketing management concepts best describes Build-A-Bear Workshop? Explain.
The Marketing Concept best describes Build-A-Bear Workshop. This is the idea that you deliver value and satisfaction to the customer by building sustainable relationships and understanding the needs & wants of your customers. Maxine Clark and the Build-A-Bear company have achieved success by knowing and understanding the needs & wants of the customers. Clark connects with the customers often by personally visiting the stores to interact with the customers. She capitalizes on customer communications via e-mails that are answered personally each week and also through the “Cub Advisory Board”, where company personnel meet with children and their parents to share feedback and capture inspiration from the kids. The charitable and honor programs build trust and sustainable relationships all while promoting the product and its concepts. Build-A-Bear is continuously innovating to keep up with the ever-changing needs and wants of the market. It has expanded from just a few retail stores to more than 400 stores worldwide, leaped into the digital world and also expanded into the “Friends 2B Made” line of stores, making it a very successful company!

Question # 4: Discuss in detail the value that Build-A-Bear creates for its customers.
Build-A-Bear creates superior customer value by fulfilling needs and wants. They involve their customers in the experience, empowering them as they create & customize their stuffed animals. The experience captures delight and satisfaction. It also has a way of converting actions that are usually considered costs to the company (such as time) into benefits. For example: the time that it takes to build your furry-friend adds to the experience rather than takes away from it. The service and connectivity that Build-A-Bear provides its customer also builds value. These interactions build relationships and trust. The company prides itself on “building a lasting memory” for each child that enters the store; that memory in turn creates exceptional value! All of these factors create value for its customers which in return will capture value from the customer – making this a great exchange!