1. Give examples of needs, wants and demands that Build – a – Bear customers demonstrate, differentiate each of the three concepts. What are the implications of each on Build – a – Bear’s actions?
Needs: Basic things that are essential in life.
Since the target customers of are mostly children of ages from 5-12, they demonstrate they need something valuable (personal); need for recreation; need to get entertained; need to learn creative things; need for self expression; need for individual choice.
Wants:
When children put their needs to action by picking their choice of teddy bear, stuffing them and giving them their own names and ‘birth certificates’ through interactive processes, their needs automatically converts to their wants. In addition …show more content…
This increases the buying power of the consumers. Besides pricing another factor that triggers the demand for their products is that they have a high level of value and satisfaction since they are customized i.e. it is personalized for each individual as per their choice.
Implication
In spite of the products coming under the category of fads, which has the risk of having a downfall, the working of Build – a – Bear workshop distinguishes the concepts mentioned above and is successful in satisfying their customers at a fairly high level. They consider the needs of the customers; convert them into wants by giving them not just their choice of personalized products, but also an exceptional enjoyable experience while building them and increases demand by offering a fair price compared to other toy workshops.
2. In detail describe all the facets of Build – a – Bear’s product. What is being exchanged in a Build – a – Bear transaction?
The core function of the workshop is to build customized stuffed animals for their customers. The process is done by the customers itself from the seven entertaining and interactive ‘workstations’.
Step 1: Choosing an unstuffed animal by the child.
Step 2: Stuffing, inserting a voice box (optional) and stitching the doll.
Step 3: Blow dry and spa treatment so as to give the animal it’s
Needs: Basic things that are essential in life.
Since the target customers of are mostly children of ages from 5-12, they demonstrate they need something valuable (personal); need for recreation; need to get entertained; need to learn creative things; need for self expression; need for individual choice.
Wants:
When children put their needs to action by picking their choice of teddy bear, stuffing them and giving them their own names and ‘birth certificates’ through interactive processes, their needs automatically converts to their wants. In addition …show more content…
This increases the buying power of the consumers. Besides pricing another factor that triggers the demand for their products is that they have a high level of value and satisfaction since they are customized i.e. it is personalized for each individual as per their choice.
Implication
In spite of the products coming under the category of fads, which has the risk of having a downfall, the working of Build – a – Bear workshop distinguishes the concepts mentioned above and is successful in satisfying their customers at a fairly high level. They consider the needs of the customers; convert them into wants by giving them not just their choice of personalized products, but also an exceptional enjoyable experience while building them and increases demand by offering a fair price compared to other toy workshops.
2. In detail describe all the facets of Build – a – Bear’s product. What is being exchanged in a Build – a – Bear transaction?
The core function of the workshop is to build customized stuffed animals for their customers. The process is done by the customers itself from the seven entertaining and interactive ‘workstations’.
Step 1: Choosing an unstuffed animal by the child.
Step 2: Stuffing, inserting a voice box (optional) and stitching the doll.
Step 3: Blow dry and spa treatment so as to give the animal it’s