Groupon, Business News, Business Presentation
Groupon has grown very fast over the few last years and it really considered as an alternative of traditional marketing or media tools. In this study, I really ought to understand the business model of Groupon, how do they work? Then, to see and underline the profitability and viability of such model regarding the marketing impact!
[...] Some important facts & assumptions The concept of Groupon is interesting because it is not really expensive; Groupon charges 50% of fee. Then, thanks to an increasing number of customers or visitors, you can “boost” quickly your image even if you are a small restaurant or a new shop The number of people who see and receive emails from Groupon is huge and probably not possible to each with conventional or traditional marketing tools You save money because it would cost you much more if you use conventional or traditional marketing tools, then you can reach an important number of people and in a short period of time. [...]
[...] ) Quick explanation of how you buy online: Pay before and Receive a coupon at the end of the purchase session Large discount for collective buying in limited time and items create a phenomenon of Bargaining & Panic buying encourage buying word of mouth One deal per day customer do not have choice Which make a three-win for Groupon The ad is placed on the top of the main page in every websites in order to be easily visible. They communicate as well with kind of blog http://liveoffgroupon.com/, person who is living with Groupon stuff, deals. The importance of the company is considerably increased for the past 2 years, especially in USA. (photo) Interpretation An alternative to TV & Print advertising First, it seems important to figure out the fact that Groupon position itself as an online alternative to TV & Print advertising. [...]
[...] Presentation of the company Groupon Groupon is an American company based on electronic commerce, and more precisely on Advertising and Marketing. They are providing through their website discounts deal to their customers enrolled to the newsletter in relation to where they are situated. Company increased his size rapidly by buying other deal of the day service across the globe (Europe, Japan . Important points of groupon : Presents Worldwide but with a local approach (Country City) Deal of the day Promote one deal by day for each location Huge revenue (760 million 2010 estimation Wikipedia) Estimate revenue for 2011 between 3 billion and 4 billion Charge of fee (If customers pays 40 $ $ WILL go to the retailer and 20 $ to Groupon) Communicate by newsletter, social media (facebook, twitter) Groupon tries to identify successful local businesses to propose their services Known to refuse deals offered to them by several businesses Reach Small local businesses and big corporation (Body shop ) Phone application (Android, Iphone, Blackberry) They sell different range of product (Healthy, beauty, alcohol, entertainment, travel, financial, accessories . [...]
[...] Some interesting Business Partnerships We have seen in the last part that Groupon is an interesting alternative for major brands but we will see in this part that these types of business partnerships are also profitable for Groupon Business Partnerships with major brands, such as Body Shop help Groupon to become well-known. As a next step, it can help Groupon to enhance their customer groups and to reach segments who are normally not really buying on internet (but ready to do it in order to have special offers on their favourite brands/products/services such as Body Shop). [...]
[...] Groupon Communciation We will not discuss in this part the way that Groupon vends themselves to the companies because they use a very simple sales techniques of “selling door to door” employing sales people to do some cold calls in order to present their services to companies. We will focus this part on how Groupon communicates about them. Groupon Ads campaign with a unique and single concept “Save the money”. It refers to a serie of ads very explicit regarding the concept “save the money” (customer point of view), sometimes using humour inside, in order to adopt an offensive way of communicating to be recognized. [...]
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