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groupons great coupons which are offered to groups
Groupon knew that people want to try something new if the price is low. Business would offer low prices if they knew they could sell a large quantity. Groupon offer different type of values to the consumers and merchants respectively. First, Groupon gives low price and different type of experiences to fit their consumers through deal-of-the-day offering. Consumers receive an exceptional value. So, merchant could get new customers without advertising cost and Groupon get a revenue by linking both consumer and merchants. This is kind of win-win strategy in the new type of business model. All of them such as Groupon, merchants and consumers could get benefit from business model. Second, they knew that consumers don’t want to be asked when they return their products. So, they didn’t asked anything if consumers want to return. It makes consumers’ feel more comfortable. Third, Groupon creates Groupon store and mobile service called Groupon Now. This make more merchant to participate on a deal and Groupon could target to sell to specific customer.
Because more merchant want to more revenue without high cost. So, Groupon make Groupon store. Also, consumer want to low price. So, Groupon can instant responsiveness marketing by offering a service called Groupon Now. Conclusively, Groupon knew both merchants and consumers behavior. So, Groupon could rapidly increase their business.
2. What is the Groupon Promise? How does the Groupon Promise affect a consumer’s perceived risk and cognitive dissonance
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