Marketing Management Case Study

Submitted By: Surbhi Gupta E07 Megha Bhattacharyya E08 Sakshi Agarwal E09 Harsha Sood E11 Dhruv Trehan E13 Rahul Arora E14

Submitted To: Ms. Ruchi Khandelwal

CASE STUDY SOLUTION

Q1.Give examples of needs, wants, and demands those Build-A-Bear customers demonstrate, differentiating each of these three concepts. What are the implications of each on Build-A-Bears actions? Ans1.Needs- understanding needs as states of felt deprivation, not created by marketers but basic parts of human make up, build bear customers, demonstrate the individual need of self expression, authenticity, creativity, empowerment, choice, individuality, freedom. Underlying need people entertain themselves. Wants- Build a bear client wants to choose unstuffed animals from a bin, stuff them, include voice boxes, stitch them, dress them, name them and even receive a birth certificate for their creation. This example is aligned with the idea that wants is a form of human need that is shaped by culture and individual personality. Demands- Giving their wants and resources, build a bear customers demand specific products that add up to the most valuable and satisfaction. Among the most relevant examples we can mention are both new store location and accessories. It is important for a company like Build-A-Bear to distinguish between these 3 concepts. Core needs must be identified first, and then every element of the product offering should be created with the intention of fulfilling one of these needs, thus generating wants and desires within the consumer base. The company must then understand that what the customers might want that is not being offered in essence. Q2.In detail, describe all facts of Build-A-Bears product. What is being exchanged in a Build-A-Bear transaction? Ans2. a. Intangible Objects- The facts would include the various options for the basic stuffed animal the clothing, voice box, name and birth certificate. b. Experience- Include the ability to customize and personalize each part of the product. It also includes being a part of the creative process and coming away with an item that is a piece of the customer. Q3.Which of the five marketing management concepts best describe Build-A-Bear workshop? Ans3. Maxine Clark has taken Build-A-Bear to high levels of financial success by knowing and understanding the needs and wants of the customers. The goals of the organization are dependent upon that. Clearly, the business strategy displayed by BuildA-Bear fits the marketing concept. Q4. Discuss in detail the value that Build-A-Bear creates for its customers? Ans4. Our concept is based on customization as said by Clark. Most things today are high tech and hard touch. We are soft touch. We dont think of ourselves as a toy storewe think of ourselves as an experience.

Build-a-bear doesnt only sell its product to the customer but also the experience. Builda-bear has a specially designed environment for improving customer delight stating from the cartoon land and specialized counters to help enhance the wide range of combinations that can be chosen by the child ( choose me section, stuff me section, fluff me section, sew me section and dress me section). What makes it different from Vermont teddy bears is that, Vermont has a fixed set of combinations in their catalogues, while Build-A-bear has the customization USP along with the experience factor which isnt prominent in Vermont. Q5. Is Build-A-Bear likely to be successful in continuing to build customer relationships? Why or why not? Ans5. Build-A-Bear is not just a toy company. It is an entertainment company. At the core of its success has been Maxine Clarks strategic vision and her uncanny ability to pay attention to the real benefits that customers are seeking. As long as the company can continue to successfully do that, then they should be able to evolve and adapt to the trends as they emerge.