Friday, August 30, 2019
Groupon Case Study Essay
Groupon has grow from 400 subscribers to 60 million subscribers world wide within five years, itÃ¢â¬â¢s fastest growing company in history. Groupon stands for group coupon that requires certain amount of subscribers to sign up for the deal. Moreover, there is a daily deal for local or national business, people can easy to use and redeem, so it raises the possibility for people to sign up. Furthermore, the most significant thing that Groupon is running based on the Internet, so itÃ¢â¬â¢s easy for people to discover and shop. Wherever the people are, they can just use their smartphone to check if there has any deal near them. 2. The Groupon Promise is an important rule for customer. Customer can return any Groupon they purchased if they donÃ¢â¬â¢t feel satisfied with the products, even if they used, there is no question ask. Therefore, people donÃ¢â¬â¢t need to worry about whether they will waste their money if they buy the products they donÃ¢â¬â¢t like. There is no risk taken for any customer. 4. There are possible psychological and sociological influences the Groupon consumer purchase decision process. Due to the recession, people have tried to save money, so people who are interested in other coupon websites, they may be also interested in Groupon. Moreover, after customers have used Groupon for several times, Groupon have begun personalizing deal for their customers. This process offers deals for customers that they are more likely to be interested in and purchase. Furthermore, every deal on Gropon websites will show customers how many other customer have purchased, so people wonÃ¢â¬â¢t think they are the fist person to try the product, and take the risk. When customers see there are a lot of people buying this product, they may think it may be a good product, and I should get one. It enhances the customers to purchase, and quantity that company sells. 5. There are three challenges for Groupon in the future. First, there are customers who are dissatisfied with Groupon, or buy the Groupon and never use it. They are looking for regular customers. In order to solve this issue, I think Groupon need to evaluate the reason why people are not satisfied with their products. They need to control the quality they sell because it can affect or even ruin their reputation. Second, Groupon has difficulty on growth in the USA. There are more deals in US, but they donÃ¢â¬â¢t have many customers in here. I think Groupon need to discover what people really need to raise the sale in US. Even though they have more customers abroad than here, US citizens still have a stronger buying power than other countries. Finally, Groupon are competing with other coupon websites. I think Groupon need to keep their current customers by personalize their deals, and sending any promotion if customers have spent certain amount of money. Also, they need to attract more new customers such as giving a coupon, so people can use a free coupon to buy a coupon or products. No mater those customers will be regular customers or not, when they start to use a free coupon, they start the business with Groupon, and they are potentially be the regular customers in the future.