BUILD-A-BEAR®
MARKETING PLAN PRESENTATION
MARCHELLA CHRISTIAN, TERRILYN GREEN,
TERESA HUMMEL, LEANN WEAVERAET/552
APRIL 11, 2016
CHARITY JENNINGS
ORGANIZATIONAL BACKGROUND
30 DIFFERENT ANIMALS
THEME ANIMALS
SPECIAL OCCASION
SILLY ANIMALS
VALENTINE’S DAY/WEDDING
CLOTHING FOR BEARS
FIND-A-BEAR I.D.
SERVICE CUSTOMER SERVICE
GUARANTEE
90 DAY RETURN OPTION
BEAR HOSPITAL FOR REPAIR
BUILD-A-PARTY FOR BIRTHDAY, FAMILY REUNION, SCHOOL GROUP AND SCOUT
TROOP MEETING
SIZE 400 STORES
WORLDWIDE
LOCATIONS: U.S.A, PUERTO RICO,
CANADA, UNITED KINGDOM, AND
IRELAND
71 FRANCHISES
1800 EMPLOYEES
CORPORATE OFFICE-ST. LOUIS, MISSOURI
HISTORICAL INFORMATIONMaxine Clark-Founder1997-Year FoundedFirst Animal Toy Priced $10.00-$25.00Clothing For Animal $3.00-$10.00$377,000 Sales in 1997
MESSAGE• ADVERTISING FOR THE NEW PRODUCT “GRANNY BEAR” • INCLUDES REGULAR ADVERTISING WITH AN ADDED FOCUS
ON RELIGIOUS CHANNELS ON THE TELEVISION AND RADIO STATIONS AND ON THE NATIONAL GRANDPARENTS DAY IN NOVEMBER.
• BUILD-A-BEAR WILL BE REVISITING SOME OF THESE MARKETING OUTLETS TO REACH THE OLDER TARGET MARKET.• A CUSTOMER CAN NOW FOLLOW BUILD-A-BEAR
WORKSHOP® ON FACEBOOK, YOUTUBE, AND TWITTER.
BUDGET• ANNUAL REPORT INCLUDES BUDGETING FOR NEW MARKETING IDEAS•ANNUAL SALES 378 MILLION•COST OF GOODS 198 MILLION•NUMBER OF STORES 324 •RETAIL GROSS STORE 177 MILLION•NORTH AMERICA AVERAGE RETAIL PER STORE
1.1 MILLION•ALL LOCAL STORES NEED MINIMUM TRAINING ON NEW ITEMS AS THE MAIN PRODUCT REMAINS THE SAME
STAKEHOLDERS
CUSTOMERSCUSTOMERS ARE THE
MOST IMPORTANT STAKEHOLDERS
BECAUSE THEY BRING THE SALES.
EMPLOYEESEMPLOYEES ARE A VALUABLE ASSET
TO THE COMPANY AND KEY TO PROVIDING CUSTOMERS WITH
EXCELLENT CUSTOMER SERVICE EXPERIENCE.
INVESTORSINVESTORS ARE IMPORTANT TO A
COMPANY BECAUSE THEY HELP FINANCE THE
ORGANIZATION
COMMUNICATION METHODSADVERTISING DIRECT RESPONSEINTERNET-BASED COMMUNICATION
SALES PROMOTION
COMPETITIVE ANALYSIS Strengths
Over 400 stores locate across the USA and other countries. Online ordering opportunity.Offer gift cards, clothing accessories, and other items to reduce its dependence on teddy bears alone.Created many sub-brands.More than building a bear, the individual, is building memories.Customers loyalty
Weaknesses
Constant having to create different ideas to keep up with consumers preferences.Prices are more expensive than some of its competitor’s products.Competitive market.
Opportunities More stores in malls.Expanding International.Increase online choices.
Threats Walmart, Toys R Us, Target, Vermont Teddy Bear Co.
OBJECTIVES• ADDING A NEW BEAR CALLED “GRANNY BEAR” TO THE BUILD-A-BEAR PRODUCT LINE.
• CONTINUED MARKETING ORIGINAL STUFFED ANIMALS WITH ITS FOCUS ON THE COMPANY REVENUE FROM OLD AND NEW CUSTOMERS WITH THE IMPROVED AND REVISED MARKETING STRATEGIES.
• BUILD-A-BEAR WILL OFFER TRAINING TO EMPLOYEES TO HELP WITH TRANSITIONING INTO NEW MARKETS WITH BOTH A DIFFERENT DESIGNED FRANCHISING MODEL AND EXPANDING INTERNATIONALLY.
• THE COMPANY WILL FOCUS ON BY IMPROVING AND EXTENDING THEIR EFFORTS TO DEVELOP HIGHER IMPACT PRODUCT THAT APPEALS TO TEENAGERS AND YOUNGER ADULTS.
• ENHANCING THE BRAND APPEAL WITH OLDER CHILDREN AND GROWING STORE SALES USING SOCIAL MEDIA TO HELP BRING AWARENESS TO THE BUILD-A-BEAR WEBSITE, BUILDABEARVILLE.COM WEBSITE.
• INCREASING STORE SALES BY HIGHLIGHT THE BENEFIT AND INCENTIVE FOR BECOMING A LOYALTY CLUB MEMBER THAT WILL ALSO OFFER DISCOUNTS AND COUPONS FOR THE VALUABLE CUSTOMER.
TARGET◄DEMOGRAPHICS
80% OF THE TARGET MARKET IS BETWEEN THE AGES OF 1 AND 14 YEARS OLD. THE OTHER 20% IS MADE OF ORGANIZATIONS, SUCH AS SCOUT GROUPS OR CHURCH GROUPS, GRAND PARENTS, AUNTS, UNCLES.
◄PSYCHOGRAPHICS
INFORMATION FOR PSYCHOGRAPHICS IS BASED ON VALUES, OPINIONS, PERSONALITIES, AND LIFESTYLE AROUND THE PRODUCT OR ORGANIZATION.
◄BEHAVIORS
THE NEW “GRANNY BEAR” BY INTRODUCING AN OLDER GENERATION AND CHURCH ORGANIZATIONS TO THE BUILD-A-BEAR EXPERIENCE WILL ALSO OPEN THE IDEA TO MORE CHURCH ORGANIZATIONS SETTING UP EVENTS THROUGH THEIR LOCAL STORE.
◄GEOGRAPHIC CONSIDERATIONS
BUILD-A-BEAR WORKSHOP® IS PRIMARILY IN THE NORTH AMERICA CONTINENT.
AS OF DECEMBER 30, 2006, BUILD-A-BEAR WORKSHOP ® OPERATED 271 COMPANY-OWNED RETAIL STORES IN THE UNITED STATES, CANADA, THE UNITED KINGDOM, AND IRELAND. OF THOSE STORES, 232 ARE BUILD-A-BEAR WORKSHOP ® STORES LOCATED IN THE UNITED STATES AND CANADA AND 38 ARE LOCATED IN THE UNITED KINGDOM AND IRELAND” (HOTSTOCKED, 2016).
REFERENCES:http://blog.hubspot.com/marketing/content-marketing-plan
http://www.businessinsider.com/advertising
Build-A-Bear Workshop®. (2016). Financial Reports. 2014 Annual Report.
Retrieved from:
http://phx.corporate-ir.net/phoenix.zhtml?c=182478&p=irol-reportsannual
http://marketingland.com/library/mobile-marketing-news
http://www.marketingteacher.com/sales-promotion/
http://www.socialmediaexaminer.com/podcasting-with-michael-wolf/
http://successwise.com/what-is-direct-response-marketing
http://www.webopedia.com/DidYouKnow/Internet/internet_communications.asp
http://www.wordstream.com/social-media-marketing