Premium Essay

Build a Bear Case Study

In: Business and Management

Submitted By edumzii
Words 676
Pages 3
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 business environment and the potential for strong family values. Considering the Build-A-Bear business model and principles of work behavior, the preferred personality types are ESFJ, ENFJ, and ESFP, with the latter being the most desirable. People of these personality types are friendly, outgoing and have a sense of service to others. Due to these traits, they are able to connect with the…...

Similar Documents

Free Essay

Build the Bear, Build the Memory

...BACKGROUND & UPDATING Build a bear was founded in 1996, in a really hard context for companies in United States, even more for new companies that were trying to come up with something new or in this case for something creative. It was hard at the beginning, but three years later it was recognized as one of the hottest retailers in United States, people also got proud of how a small company could grow up so fast and also to get in the bests companies for customers. Build a Bear was opened by first time in 1996, having after that over more than 200 companies around United States; right now it has even more than 400 companies around the world in four different countries (United States, UK (United Kingdom, Puerto Rico, and Canada), they also give the chance to make it possible for creating a store by starting at least with 5 million dollars (it depends of the country, but that is the minimum capital people have to start with), it doesn’t mean it will be a sub franchising or something similar, they still be the total owners of the store making the country as a new point of the brand. The idea came up in a really particular situation between Maxine Clark and her friend. She was only 10 years old when she was trying to get a bear toy from the store with her friend, but her friend couldn’t find the one she liked it, and then she said it should be a great idea about making her own teddy bear, it was the moment when Maxine went even deeper, and she got a creative and also a......

Words: 1975 - Pages: 8

Premium Essay

Build a Bear Case - Leases

...Kamran Burki Build-A-Bear Case – Lease a. Companies lease assets rather than by them because the company might need the asset for only a short period of time. The company might also not want to report an asset or liability or the company simply might not have enough cash to buy the asset. In addition, the company also might have difficulty getting a loan to finance the purchase. b. An operating lease is very similar to a rental agreement. The company does not have ownership of the asset and all the risk and benefits of ownership stay with the lessor. The lessor only transfers the right to use the asset. A lease is considered a capital lease if it meets the following rules: 1) lease life must be greater than 75% of the life of the asset 2) transfer of ownership at the end of the lease term 3) bargain purchase at end of lease term 4) present value of minimum lease payments exceeds 90% of the FMV of the asset A direct financing lease is is defined as a lease where the present value of the lease payments is equal to the cost of the asset. The lessor does not report a gain/loss at the beginning of the lease, but earns interest revenues. A sales type lease is a lease where the present value of the lease payments is greater than the cost of the asset. The lessor records a profit at the beginning of the lease and also earns interest revenue. c. As discussed above, all leases are not the same. Hence, the need to distinguish between different......

Words: 711 - Pages: 3

Free Essay

Build-a-Bear

...that are being served. One company many people would not expect to be on The Fortune 100 list is Build-A-Bear Workshop. For the fifth consecutive year, Build-A-Bear Workshop has been named one of Fortune Magazine’s “100 Best Companies to Work For” and is the only toy retailer on this year’s list. Build-A-Bear scored 62 out of 100 on the list. A woman named Maxine Clark founded Build-A-Bear Workshop in 1997. She is considered one of the true innovators in the retail industry. In an interview for CNN, Clark stated: “In 1997, I withdrew $750,000 from my retirement account to get Build-a-Bear Workshop off the ground. That covered startup costs and the building of the first prototype store. I also secured a bank line of credit for inventory and working capital, with my house as collateral. I knew I wanted to build a multimillion-dollar business with hundreds of units, and I realized I didn't have the ready cash to fund that growth. I knew I'd have to partner with outside investors.” While building the first Build-A-Bear store, there was a story posted in the St. Louis Business Journal about the concept. Through this article, it caught the eye of Barney Ebsworth, who owned a private investment firm with his partner Wayne Smith, They bought in 20% for $4.5 million, therefore Clark had enough money for several years and she did not even open her first store yet! The first Build-A-Bear Workshop opened in the St. Louis Galleria, in which lines were out the door! Clark stated, “In......

Words: 1770 - Pages: 8

Premium Essay

Build-a-Bear

...com/essay-on/Build-a-Bear-Build-a-Memory/51296 1. 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......

Words: 359 - Pages: 2

Free Essay

Build-a-Bear

...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......

Words: 1163 - Pages: 5

Free Essay

Build a Bear

...CASE 1 –Build a Bear, Build a memory- Synopsis: Build a Bear was founded by Maxine Clark in hard times. Where the internet was in its early phases of development, this era was a bad time to come with this type of business idea and as a matter of fact, Maxine Clark was criticized for this business idea. But nearly a decade later this company was considered as one of the hottest five retailers. The company hit number 25 on Business Week´s Hot Growth list of fast expanding small companies and Maxine Clark won Fast Company´s Customer-Centered Leader award. After being the president of Payless shoe store and resigning in 1996 (Selk, 2015), Maxine Clark´s Build a Bear first store opened in 1997 in Saint Louis Missouri. By 2007 it had sold over 50 million customer-made teddy bears and registered sales of $474 million. Clark’s inspiration came from her 10 year old friend Katie. She argued why she couldn´t find the stuffed toy she wanted and that it was so easy to make (Build a Bear, 2015); and so the inspiration came. Currently, there are over 400 stores in the USA, UK, Puerto Rico, Canada and franchises in Europe, Asia, Middle East, Australia, Mexico and Africa, with more than 125 million Bears living around the world. They are also diversifying the product, not only teddy bears. Now customers can build dinosaurs (Build a Dino), dolls (Friends 2B Made) and Build a Bear at the Zoo where customers can decide in a variety of more than animals. (Build a Bear) Nowadays the......

Words: 1414 - Pages: 6

Premium Essay

Build-a-Bear Case Analysis

...Introduction Build-A-Bear Workshop, Inc. (Build-A-Bear) is a retailer that offers its customers a unique experience. With its focus primarily on kids, this giant retailer provides a way for children to customize what their stuffed animals could and should look like. Build-A-Bear is the only U.S. based retailer that offers an interactive make-your-own stuffed animal retail-entertainment experience. Their stores provide an extensive selection of merchandise, including over 30 different styles of animals to customize along with a wide variety of clothing, shoes and accessories to choose from (“Build-A-bear Workshop, Inc,” 2014). It all started with a simple idea that was inspired by a 10-year-old girl. Maxine Clark was the former President of Payless Shoesource and left her successful career behind in pursuit of what she calls retail entertainment. Gleaning the advice from her mentor, Stanley Goodman, former CEO of May Department Stores, she recalls one of her greatest lessons from him, which was that retailing is entertainment and the store was the stage. The happier the customers, the more money they will spend. In an interview with CNBC, she states, “I just felt like he was calling me. And saying, ‘Maxine, you gotta get back to it.’ And I didn’t know exactly what I was gonna do, but I knew it was gonna be something for children, because children require you to be creative. They aren’t really worried about whether you’re making money or not making money. They want you...

Words: 3148 - Pages: 13

Free Essay

Build-a-Bear Marketing Study

...Vazquez Cruz Build-A-Bear Case Incident June 17, 2015 1. Give examples of needs, wants and demands that Build-A-Bear customers demonstrate, differentiating each of these three concepts. Build-A-Bear involves the participation of the customer into the creation of stuffed animals. This activity provides to the customers social, physical and individual needs, by performing a fun activity which at the same time give a pleasant experience and memories. What this product offers cannot be acquired in any other toy store. Therefore, what made Build-A-Bear unique, is what they give to the customers. The needs that people look forward to acquire from this store turn into wants. For example, Customers can get stuffed animals in stores such as ToysRUs, but they decided to get it from Build-A-Bear because they not only buy a stuffed animal. Customers also acquire the experience of participating in the creation of personalized entertainment. Therefore, it is a want when customers choose to spend their money in Build-A-Bear than in any other toy store because they want to participate in those activities. Moreover, customers’ demand comes when they choose to spend their money in order to acquire stuffed animals from Build-A-Bear over other brands or stores. 2. In detail, describe all facets of Build-A-Bear’s product. What is being exchanged in a Build-A-Bear transaction? 3. Which of the five marketing management concepts best describes Build-A-Bear......

Words: 431 - Pages: 2

Premium Essay

Build-a-Bear

...Build-A-Bear Workshop, Inc.—Leases EXCERPTED WITH PERMISSION FROM CASES IN FINANCIAL REPORTING EIGHTH EDITION ISBN: 978-1-61853-122-3 MICHAEL DRAKE ELLEN ENGEL D. ERIC HIRST MARY LEA MCANALLY © Copyright 2015 by Cambridge Business Publishers, LLC. All rights reserved. No part of this publication may be reproduced in any form for any purpose without the written permission of the publisher. This document is authorized for use by Hongxia Chai, from 4/29/2015 to 7/31/2015, in the course: AC580: FairfieldMSA - Colvin (Summer 2015), Fairfield University. Any unauthorized use or reproduction of this document is strictly prohibited. Build-A-Bear Workshop, Inc.—Leases Build-A-Bear Workshop, Inc., (NYSE: BBW), is the leading and only global company that offers an interactive make-your-own stuffed animal retail-entertainment experience. Founded in 1997, the company and its franchisees currently operate more than 400 Build-A-Bear Workshop® stores worldwide, including company-owned stores in the United States, Puerto Rico, Canada, the United Kingdom, Ireland, and France, and franchise stores in Europe, Asia, Australia and Africa. In 2007, the interactive experience was enhanced - all the way to CyBEAR™ space with the launch of buildabearville.com®, the company’s virtual world, stuffed with fun. Source: Company website. Learning Objectives • Understand the economic incentives of leasing versus buying assets. • Interpret lease footnotes and......

Words: 2913 - Pages: 12

Free Essay

Build-a-Bear

...Build-A-Bear Case Incident Marketing 120- Learning Outcome 1 Assignment #1 1. Needs are described as states if felt deprivation. A few needs of BAB customers are the need for entertainment, the need for individual choice and the need for variety. Wants are described as the form human needs take as shaped by culture and individual personality. Some BAB wants are interactive entertainment and the variety of accessories and types of bears you can get. Demands are described as human wants that are backed by buying power. These demands would include sports related outfits, mini-scooters and Hello Kitty bears. 2. Facets would include: a. Building the bear- making the bear, choosing the outfits, naming the bear, crossing your heart b. They say waiting in line is part of the fun c. Customizing everything about your product The customers are exchanging their money and their time for the teddy bear and the time used to customize it. 3. The best marketing management strategies is the Marketing Concept. Maxine Clark has connected with her customers to determine the wants and needs of the market and uses those wants and needs to determine what the next step is. She goes to shops at least once a week to talk to her customers and stay connected. 4. BAB offers customers an interactive and personalized experience that fulfills their needs, wants and demands. The customer opinions are taken very seriously and into consideration by Maxine Clark. She......

Words: 284 - Pages: 2

Premium Essay

Build a Bear Case Study

...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......

Words: 296 - Pages: 2

Free Essay

Build a Bear

...Brooke-Lyn Somogyi Build a Bear Assignment #1 1. Give examples of needs, wants and demands that Build-A-Bear customers demonstrate, differentiating each of these three concepts. Customers demonstrate a need to learn and be entertained. When creating a bear you need to follow instructions on how to make it properly. Hopefully, making the bear keeps you happy. Everyone needs to be entertained, without fun our world will be a place filled with miserable minds and corruption. Being entertained helps people have a more cheerful spirit. The customers need to be entertained but wants to have fun with and create an experience with the people at build-a-bear workshop. With that, they need to learn, but want to learn how to build a bear. Since the customers are able to afford what they want, they are able to satisfy their demand for the entire build-a-bear experience. 2. In detail, describe all facets of Build-A-Bear’s products. What is being exchanged in a Build-A –Bear transaction? In order to assemble a bear, the customer needs to go through seven steps. First, the customer chooses an animal that he or she prefers. Second, you have the opportunity to actually bring the hand-picked stuffed animal to life by stuffing it. Third, you get to customize the bear. You can insert a voice box to add sound or you can leave it without any sound, and then stitch the animal together. Once your have it filled with stuffing and its all stitched up then you dress it. Just the way......

Words: 567 - Pages: 3

Premium Essay

Build-a-Bear: Build-a-Memory

...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......

Words: 1025 - Pages: 5

Premium Essay

Build-a-Bear: Build-a-Memory

...Build a bear case • 1 – Needs are basic needs that the human is deprived from and cannot live without it including physical needs. So teddy bears is one of the needs for the children. They love playing with a teddy bear so Build-A-Bear workshops for needing a bear impresses children. Wants are the form human needs take as they are shaped by culture and individual personality. The company achieved such success from the experience of participating in the creation of personalized entertainment. A Build-A-Bear store organized around a child-friendly environment.This process attracts the customers specially the children. Finally, demands are human wants backed up by purchasing power. .A Build-A-Bear store organized their store as a child-friendly environment the children and parents love to shop here. The price of toys starts as low as $10 and average $25.So it becomes their demand to shopping there. 3-there are five alternative concepts under which organizations design and carry out their marketing strategies: the production concept, product concept, selling concept, marketing concept, and social marketing concept. The concepts that best describe Build-A-Bear workshop is first the product concept holds that consumers will favor products that offer the most quality, performance, and features and that the organization should therefore devote its energy to making continuous product improvements as Build-A-bear workshop doing which is focusing on the product's features......

Words: 329 - Pages: 2

Premium Essay

Build a Bear

...Case #2 Build-A-Bear Workshop Build-A-Bear performance over the last few years has not been as strong as their initial performance of their early years. Build-A-Bear’s innovative and new product reached high net incomes when it first opened. Their rapid growth and expansion has caused a decline in net income. Another factor to a decrease in net income was due to the recession in the economy. Growth of new stores had to be put on hold until the economy had a chance to recover. Build-A-Bear has also experienced expenses from stores closing. Not only is Build-A-Bear expanding through opening new stores and licensing franchises, but also with partnering up with exiting companies like Ridemakerz, major league baseball, and Friends 2B. Build-A-Bear’s decline in performance is based on the lack of innovation. Build-A-Bear should focus on securing profitability within their current market, could market new products to bring value to the customers, but should not expand in new locations. Financial Ratios: Short-term solvency or liquidity, ratios: Current Ratio = current assets / current liabilities 1.4469 Quick Ratio = current assets – inventory / current liabilities .8654 Cash Ratio = Cash / current liabilities .5403 Long-term solvency, or financial leverage ratios: Total debt ratio = Total assets-total equity / total assets .4412 Debt-equity ratio = total debt / total equity .7895 Equity multiplier = total assets/total equity 1.7895 Asset utilization,......

Words: 986 - Pages: 4

Mooie Antiek Schilderij kader/ Beau Cadre peinture antique / Ext. 66x58cm | Hunger Games La Rvolte : Partie 1 | High Maintenance