...BUILD-A-BEAR CASE STUDY NAME: INSTITUTION; COURSE: PROFESSOR: DATE: From my analysis of the background information provided in the textbook, I would classify Maxine Clark as an ENTP (Extraversion, Intuition, Thinking, and Perceiving) falling under the intuitive type. People of this personality type interact with people, are open to possibilities, analytical and flexible (Nelson & Quick, 2011, pp. 118-119). The interactive nature of her personality is evident in how the business collects customer information to enhance the customer-retailer bond which provides further cross sell opportunities. Her intuitiveness is obvious as she leaves a high level job to pursue her dream career while ignoring critics. Her extraverted component is visible in the ultimate idea of the Build-A-Bear business model; creating an enjoyable customer experience venue while encouraging the parents and children to form a bond with the retailer. Her strategic and tactical business decisions to open multiple company owned stores, franchise stores and other ventures, (Friends2Bmade and Build-A-Dino), highlight the cognitive aspect of her personality. Her tactical genius is revealed by her willingness to expand Build-A-bears awareness by advertising in sporting events such as NASCAR (Scheraga 2006). Even though Build-A-Bear is expanding to a global audience, it is doing so without losing corporate assets. The company owned stores are located in politically stable countries which have a profitable...
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...BUILD-A-BEAR CASE INCIDENT 1. An example of need in a Build-A-Bear Workshop is when a child is looking for a stuffed for herself or an adult looking for a gift of their loved ones for special events. An example of wants is when they want a stuffed that they could make it by themselves and be able choose what kind of toy animal or stuffed toy you like. An example of a demand is when you can be able to customize the stuffed toy that you want such as dressing it up and putting a recorded sound message in it. Another demand is be able to track your stuffed toy just in case you lost it. 2. Build-A-Bear product is a personalized stuffed animal of your choice that is made in the workshop and is built with fun, excitement and unforgettable experience. You could make your Build-A-Bean stuffed toy special by either choosing to record a Build-A-Sound message or choose a pre-recorded sounds or songs. And to make it more special they have different choices of clothes and costumes that you could choose. In every transaction, the customer is exchanging an experience and a dream while a Build-A-Bear company is building a strong and long lasting customer relationship. 3. Marketing Concept is the best marketing management that best describes Build-A-Bear Workshop because they were focusing on customer needs and wants delivering the desired value and satisfactions. 4. The value that Build-A-Bear is creating for its customers is the lasting relationships because they were satisfying...
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...OVERVIEW Customer Need Build-A-Bear Workshop has enriched children’s lives for a decade and a half with its innovative mall-based stores where kids create their own teddy bears and other furry friends. To make the experience even more engaging for a new generation of youngsters, Build-A-Bear Workshop wanted to develop a new store concept that combined the hands-on experience with the best of digital technology. Samsung Solution During a development phase spanning two years, Build-A-Bear Workshop worked with numerous partners to create a newly imagined store incorporating innovative interactive technology. With fun, experiential applications developed for each stage of the bear-making process, Samsung technology — including the Samsung SUR40 with Microsof PixelSenseTM, the Series 7 Slate PC and other touch-screen displays — provided the platform for a new, personalized retail experience that engages young guests in immersive digital play. Results The new, interactive store concept contributed to higher trafc and a 30 percent boost in sales — exceeding the company’s own ambitious targets. Customer satisfaction scores have risen in the stores, as has an equally important metric for the company: the number of children’s smiles. Based on this success, Build-A-Bear Workshop plans to open 40 to 50 more stores with interactive technology over the next two years. CASE STUDY: BUILD-A-BEAR WORKSHOP® Samsung Technology Helps...
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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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...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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...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? It is very important for any company to fully understand their customers’ needs, wants, and demands in order to perfectly satisfy them, and consequently capture customer value in return. Needs are states of felt deprivations, they include basic physical needs, social needs, and individual needs. According to our case study, we can observe that the target customers of Build-A-Bear Company are children and consequently their parents. Examples of needs demonstrated by Build-A-Bear customers are: Children’s needs: 1-Playing, enjoy time, have fun, and exploring new things 2-Have a toy Parent’s needs: 1-Enrich their children experience 2-Utilize their children’s energy in a useful way Wants are basically needs that are shaped by culture and individual personality. Examples of wants that are demonstrated by Build-A-Bear customers are: Children’s wants: 1-To go to a convenient fantasy place where they can meet their favorable cartoon characters, and allow them to touch their dreams 2-To get a customized, personal toy of their favorable character Parent’s wants: 1-To enroll their children in a practice that will result in joy, and experience 2-To buy their children their favorable customized toy Demands are wants backed up by buying power. Examples of demands demonstrated by Build-A-Bear customers are: From...
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...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 their own approach to overseas markets, and is illustrated with cases and insights that aid understanding.’ Fifth Edition Global Marketing A decision-oriented approach Svend Hollensen Video cases featuring firms such as Nivea, Reebok, Starbucks, Hasbro...
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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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...Module 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; & ...
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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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...(N01698367) (410 Arizona Ave, Fort Lauderdale FL, 33312) (Home and Work # 561 853-8294) Date of Submission: Sunday June 6, 2016 Title of Assignment: Vermont Teddy Bear case Study Analysis Certification of Authorship: I certify that I am the author of this paper and that any assistance I received in its preparation is fully acknowledged and disclosed in the paper. I have also cited any sources from which I used data, ideas or words, either quoted directly or paraphrased. I also certify that this paper was prepared by me specifically for this course. Student’s Signature: Jack Pierre-Louis ****************************** Instructor’s Grade on Assignment: Instructor’s Comments: Strategic challenges at Vermont Teddy Bear Founded in 1981 at the end of a severe economic recession that has affected the majority of the industrialized world, Vermont Teddy started out slow selling its products out of a cart. John Sorinto, the founder saw the potential and the enthusiasm of the public very quickly. Because of his early successes in that enterprise, he decided to make better qualities teddy bears according to Wheelen & Hunger, 2004. The company was so successful during its first fifteen years that management had to decide to change its approach and its business model not only to keep growing but also to stay in business. As researches show, companies can cause...
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...temperature can have a drastic affect on when animals breed, migrate, and hibernate. It also affects plant life cycles and their ability to grow. The impact that climate change has on nature can be catastrophic. Climate change has already had a noticeable effect across the globe and on the environment. Glaciers are shrinking, ice along rivers and lakes are melting earlier, plants and animals have shifted their ranges, trees are flowering sooner, and sea levels are rising. These effects were predicted in the past by scientists, and they are finally occurring. Most of climate change is caused by global warming and the greenhouse effect. (Gardiner, 2004) Global warming is a rise in the average temperature on the earth’s surface. Scientists who study the climate have evaluated climate patterns since the early 1800’s. From their evaluations, they have noticed a rise in temperature, from about 0.7 to 1.4 degrees Fahrenheit and they estimate temperatures to continue to rise over the next century, an additional 2.5 to 10.4 degrees Fahrenheit. With this change, scientists fear that all living organisms will have a hard time adapting to these rapid climate changes (Mastrandrea & Schneider, 2005) To understand global warming and climate change, it has to be understood what causes it. Human activities play a crucial role in harming the...
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...STUDY ON ANIMALS FOR “INTERNSHIP TRANING” AT ARINGNAR ANNA ZOOLOGICAL PARK HUSBANDARY PRACTICES OF MAMMALS IN CAPTIVITY 6-5-11 FRIDAY PREPARE FOR SCHEDULE 7-5-11 : OBSERVE THE ENCLOSURES OF ANIMALS 8-5-11 : CAPTURE THE ANIMALS 9-5-11 : LION 10-5-11: INDIAN GAUR 11-5-11: WILD DOG 12-5-11: SLOTH BEAR 13-5-11: NOCTURAL ANIMALS 14-5-11: ZEBRA 15-5-11: GIRAFFE 16-5-11: TIGER 18-5-11: ELEPHANT 19-5-11: STORE ROOM 20-5-11: DIET SHEET 7-5-11 Saturday OBSERVE THE ENCLOSURE OF ANIMALS Second day we observed the enclosures of mammals. In these zoo there are two kinds of moats. One is dry moat and another one s wet moat. i)DRY MOAT – This kind of moat is hollow type because the animals cannot escape easily. They are afraid to jump or cross the moat. So it will be safe and another aim is for to prevent the public visitors from animals. The hollow depth is depends upon the animals. ii)WET MOAT – This kind of moat is filled with waters. Because some animals are afraid for waters. This type of moat is mostly suitable for primates. It looks like an island. There are three kinds of enclosures: i)Public, ii)Zoo handling...
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...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 the management of marketing costs, written by my associate. Professor James Culliton (1948). In this study of manufacturers' marketing costs he described the business executive as a "decider," an "artist"—a "mixer of ingredients," who sometimes follows a recipe prepared by others, sometimes prepares his own recipe as he goes along, sometimes adapts a recipe to the ingredients immediately...
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...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 the management of marketing costs, written by my associate. Professor James Culliton (1948). In this study of manufacturers' marketing costs he described the business executive as a "decider," an "artist"—a "mixer of ingredients," who sometimes follows a recipe prepared by others, sometimes prepares his own recipe as he goes along, sometimes adapts a recipe to the ingredients immediately...
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