The Build-A-Bear Workshop® advertises in Magazines such as LIFE and Ladies Home Journal. The company uses Coupons to increase sales. According to an article in the New York Times (Olson, 2012), “The retailer is introducing its new technology-enhanced stores with radio and digital ads, print ads in local newspapers and television commercials. It will broaden its branding efforts to five additional markets where new stores will open starting in October” (Olson, 2012). Build-A-Bear Workshop spent nearly $7.8 million on advertising last year, and $2.7 million in the first six months of 2012, according to Kantar Media, a WPP unit.
Build-A-Bear Workshop will use advertising as a form of marketing communication to promote their service and many different products offered. Build-A-Bear Workshop will get an immediate response from potential customers and require them to take some action such as signing up to an email list. The Internet has become the way many people communicate and business is quickly learning just how important the Internet has become. - Build-A-Bear Workshop will discuss incorporation of various promotions to increase sales. - Public relations has become of importance in marketing to consider a crucial component in assisting companies to reach their marketing objectives. Social media marketing is the trendy way to reach customers in today’s society to market product by sharing videos, and images for of customers. - Mobile Marketing is using a mobile device such as a cell phone. - Mobile Marketing is using a mobile device such as a cell phone. Podcast is a multi-tasking platform which individuals spend at least 15 minutes of their time listen to the different point of views on their podcast. The conversations are deeper and personal.
Marketing plan presentation final
30 DIFFERENT ANIMALS
CLOTHING FOR BEARS
90 DAY RETURN OPTION
BEAR HOSPITAL FOR REPAIR
BIRTHDAY, FAMILY REUNION,
SCHOOL GROUP AND SCOUT
400 STORES WORLDWIDE
LOCATIONS: U.S.A, PUERTO
RICO, CANADA, UNITED
KINGDOM, AND IRELAND
First Animal Toy Priced $10.00-$25.00
Clothing For Animal $3.00-$10.00
$377,000 Sales in 1997
• 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.
•ANNUAL REPORT INCLUDES BUDGETING FOR NEW
•ANNUAL SALES 378 MILLION
•COST OF GOODS 198 MILLION
•NUMBER OF STORES 324
•RETAIL GROSS STORE 177 MILLION
•NORTH AMERICA AVERAGE RETAIL PER STORE
•ALL LOCAL STORES NEED MINIMUM TRAINING ON NEW ITEMS
AS THE MAIN PRODUCT REMAINS THE SAME
CUSTOMERS ARE THE MOST
BECAUSE THEY BRING THE SALES.
EMPLOYEES ARE A VALUABLE ASSET TO
THE COMPANY AND KEY TO PROVIDING
CUSTOMERS WITH EXCELLENT
CUSTOMER SERVICE EXPERIENCE.
INVESTORS ARE IMPORTANT TO A
COMPANY BECAUSE THEY HELP
FINANCE THE ORGANIZATION
ADVERTISING DIRECT RESPONSE INTERNET-BASED COMMUNICATION
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.
More than building a bear, the individual, is building memories.
Constant having to create differentideas to keep up with consumers
Prices are more expensive than some of its competitor’s products.
Opportunities More stores in malls.
Increase online choices.
Threats Walmart, Toys R Us, Target,
Vermont Teddy Bear Co.
• 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.
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.
INFORMATION FOR PSYCHOGRAPHICS IS BASED ON VALUES, OPINIONS, PERSONALITIES, AND LIFESTYLE AROUND THE PRODUCT OR
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.
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).