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Báo cáo giữa kỳ môn Marketing Management Casestudy Groupon Introduction about Groupon. The role of an understanding of consumer behavior in helping Groupon grow from 400 subscibers in Chicago in 2008 to 60 million subscribers in 40 countries today. Groupon promise. The influence of Groupons promise on a consumers perceived risk and cognitive dissonance. Fivestage purchase decision process for a typical Groupon user.
MID-TERM PRESENTATIO N GROUP Nguyen Thi Ngoc Mai Tran Thi Que Chi Nguyen Thanh Truc Nguyen Hong Phuc Dang Quoc Binh LECTURER: LE HONG DAC GROUPON CONTEN T Introduction about Groupon The role of an understanding of consumer behavior in helping Groupon grow from 400 subscibers in Chicago in 2008 to 60 million subscribers in 40 countries today Groupon promise The influence of Groupon's promise on a consumer's perceived risk and cognitive dissonance Five-stage purchase decision process for a typical Groupon user The possible psychological and sociological flunce on the Groupon consumer purchase decision process Challenge that Groupon faces in the future The actions that I would recommend to tackle each challenge The concept of Groupon has been around since 1998 Shopping network, advertising and promotions, buyers can get up to 90% discount as long as there are enough people buying this product with them Groupon is a combination of Group and Available in more Coupon than 150 markets in North America, 100 markets in Europe, Asia and South America What's about Groupon? 11/2008, Groupon was founded by Andrew Mason Mode of Operation Seek profit by connecting supply and demand side Search for service providers to post to their websites The product is anything legal that users are interested in Much cheaper than the market, lower from 10% to 90% Advantage s Buy and pay online conveniently Easily collect Have a customer Attract a large chance to All parties information and number of release will benefit customers but inventory in their reviews about the at a low cost a short time product Disadvantag es The business model is easy to copy, so there are many competitors Is an opportunity for "bad companies" to take advantage of low-quality sales but can still promote as other reputable companies Groupon's Development In the first months of 2012, Groupon's revenue was $ 850 million 19/04/2010, Groupon's value reached a record of 1.35 billion USD By the end of the second quarter of 2011, Groupon had 115.7 million registered users and 23 million people used the purchase service In 2017, revenue reached $ 2.84 billion The role of an understanding of consumer behavior in helping Groupon grow from 400 subscribers in Chicago in 2008 to 60 million subscribers in 40 countries today Because through Groupon, you can buy a lot of items and also have essential goods, Groupon focuses on the daily use in life psychology of customers' The crowd effect helps prices, so the hot-deals customers feel more offered by Groupon can help secure and Groupon customers buy products at has more customers preferential prices Partners will sell, interact with many people in many places Products through Groupon are products of selected quality that make customers feel more secure Groupon's Promise B2B Groupon brings together small buyers into larger buyers and receives - 10% of the profits from suppliers B2C When customers are not satisfied with the product, customers can contact Groupon to exchange and not the supplier The influence of Groupon's promise on a consumer's perceived risk and cognitive dissonance Groupon will slow down the process of getting the product to the buyer and the money it will deliver will also be delayed Groupon may increase or decrease the price of products that disrupt the market Customers receive conflicting customer reviews with inherent beliefs Customers will feel a sense of inadequacy when they receive a product that is below their expectation Five-stage purchase decision process for a typical Groupon Stage user.2: Stage 1: Needs of Consumer Groupon creates opportunities for consumers to things they've never done before Stage 5: Factors influence Groupon user's purchase behavior Information Search Five-stage purchase decision process for a typical Groupon user The typical Groupon user is an 18 - 34 years old woman with an average income of about 70.000$ Consumers search for product information through friends, family, or previous purchasing experiences Stage 3: Alternative product evaluation stage Consumers often pay more attention to the price of the product Stage 4: Purchase decision than other factors Consumers will make decisions about whether to buy or not The possible psychological and sociological influence on the Groupon consumer purchase decision process Psychological: - Perception - Trust - Personality - Websites aesthetics Sociological: - Reference group - Family - Social roles and statuses - Especially, WOM (Word of Mouth) Groupon's Challenge Related to use of coupons Managing Groupon growth Extraordinary level of competition Related to use of coupons - Frequent discounting could discourage customers from ever making purchases without a discount - Groupon promotions are not profitable for nearly 1/3 of small enterprise - Promotions that affect brand equity and not really lasting effect for the business Managing Groupon growth - Groupon expanded all around the world by acquiring local daily deal services - Develop a comprehensive understanding of the deffrrences in international buying behavior 3 Extraordinary level of competition Daily deal technology is not very sophisticated and the model is easy to copy Challenge Solutions - Branding - Build relationships with customers and suppliers - Payment and using safe electronic wallet - Groupon Now Thanks! 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