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Essay / Research Paper Abstract
This 3 page paper looks at a problem at Build a Bear – the lack of repeat purchases and suggests three different strategies. For each strategy the advantages and disadvantages are considered. The paper ends with a recommendation.
Page Count:
3 pages (~225 words per page)
File: TS14_TEbuildb.doc
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Unformatted sample text from the term paper:
bear (or other animal) and then making choices including a heart with a heart beat and other noise units, stuffing it and dressing it. The problem is that although this
is a novel and unique idea, it is not one that easily lends itself to repeat purchases. Customers will often purchase only a single bear, in order to survive
the firm needs to be able to attract repeat purchased, the are a number of potential strategies which may be followed. Strategic Options 1. The creation of a loyalty
club, where after the purchase of a set number of bears there will be a free product. This may encourage more purchases with the offer of value, and may be
combined with a loyalty club email reminding people of birthdays and events for others that may stimulate the purchase of a bear, or a voucher for a bear. The advantages
are that this would be relatively easy to implement, it is appealing to customers that will visit the stores. The disadvantages will include the cost of the free bears.
A variation on may simply be the creation of a owners club, which would facilitate more effective direct marketing, with the collection of
owners details, (or their parents details when undertaking is of age), and targeted direct marketing concerning new releases, special offers or items of interest that may appeal based on the
initial purchase. 2. The licensing of bears that the target market (who are mostly children) may want to buy in sets, such as Disney characters , including Mickey, Minnie and Donald
Duck, 101 Dalmatians etc. Other films may also offer short term opportunities such as the recent Gnomeo and Juliet. The advantages include the greater potential for children to want more
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