Groupon

What Makes Groupon So Different ?



Type

Public

Headquarters

Chicago, Illinois,

U.S.

Global

Area served

Founders

Andrew Mason

Eric Lefkofsky

Brad Keywell

Revenue

US$ 2.573 billion

Owner

Groupon, Inc.

Employees

[2]

10,000 (2013)

Website

www.groupon.com

Type of site

deal-of-the-day

Launched

November 2008

Impulsive Consumption Behavior

“Only one product a day ”This is how Groupon do business., focus on one and only

one product. By giving customer an impressive low price and an image of “Already

thousands of people buy this, it must be a great deal!”



Help Owners Find Exposure

Groupon’s members have become the strength to stimulate stores to turn into a well

-known popular brand. A study reveals that spending money on Groupon is way

more efficient than spending the same amount of money on commercial ads.



Sell “Service”, Not “Product”

Most of Groupon’s Group-Buying are focusing on “Service”. For example: “special

offers from a fancy restaurant”, “50% off coupon” ...etc. Selling service makes

Groupon’s work more easily. By selling services, Groupon can save the expense of

warehouse and delivery. Customers only need to head to the restaurant and enjoy

the service they provide.

My Suggestion To Make It Even Better.



A Brand New Way To Set Price

For example:” Customer A would like to buy a restaurant coupon from Groupon

which priced $100. First, he has to enter the price he is willing to pay for the meal

(with limit). $75 is the price he can afford. In this system, the price will drop when

new order arrived. So after he places bid, the price automatically drop to $99, the

more bid, the more amounts the price will drop. What’s even better? If the price

didn't reach A’s budget, he doesn’t need to buy the coupon.”



The Power Of Friends, Family & Social Media

With the new price rule, Groupon can easily spread the Group-Buying information

over the country. This...