The analysis of these above mentioned three concepts by Build-A-Bear executives enables them to devise effective innovative strategies and plans that fulfill all the basic demands of their clients while simultaneously resulting in increased brand awareness, customer satisfaction and loyalty.
The Build-A-Bear workshop actually believes in selling an experience or personalized entertainment to its clients than just selling an ordinary product or a service for some money. Build-A-Bear is actually a workshop that allows preteens to create their teddy bears through a step-by-step production process. The first step is called “Choose me” in which a child pick an unstuffed animal followed by a second stage known as “Stuff me” in which a child a child operates a foot pedal that blows in the amount of fluff. Third stage “Hear me” is about including a voice box followed by a “Stitch me” stage in which the animal is stitched. The last two stages are known as “Dress me” and “Name me” stages in which a child has to cloth his or her animal and finally give it a nick name of their choice respectively. This workshop actually shares adorable memories of creating and preparing an animal in exchange of money. The entire process is not only enjoyable but it is being remembered by young that later compels to try this workshop again and again.
The marketing management concept of Product Development best describes the Build-a-Bear workshop. This concept is actually a business growth strategy that aims to generate excessive revenues by offering new products to existing group of customers. The additions and offerings of new products such as mini-scooters, mascot bears, in-store galleries of bear-sized furniture, spider costumes and sequined purses based on innovative ideas of customers greatly contributed in company’s success and goal accomplishment. Furthermore, the workshop is coming up with further innovations,