With the internet technology, everyone can stay at home for online shopping. What’s more, if you can enjoy daily discounts with all the information, home delivery and 24-hours daily operation, that’s all can be found by buying Groupon. Groupon, the company has successfully captured millions of online consumers throughout the world. The marketing strategy of Groupon captures the consumer behavior. Consumer buying behavior, defined as... “The buying behavior of final consumers, individual and households who buy goods and services for personal”.Groupon consumers mainly responses to:
- Brand selection: the advertisements, messages and discounts offered consumers to try something new with lower price for a variety of product, restaurant menu, branded handbag and so on.
- Product service: Groupon offering special deal Groupon and the consumer can select the convenience time for salon appointment or dinning appointment. Furthermore, the company policy “The Groupon Promise” encourage consumer to buy as no question will be asked to return purchased Groupon, this towards the customer satisfaction guarantee.
- Purchasing timing: “a deal of today must not miss” is commonly built into Groupon’s customers’ mind. Offering a huge discount and can easily to purchase via internet or mobile technology, furthermore, the product is home delivery.
- Reference groups: The social influence likes Facebook, Twitter is helping the grow of Groupon. When the responses and commends is positive, many consumers will follow the trends bearing in mind of trying.
The Groupon consumers follow below five-stage purchase decision process:
i. Need recognition
Usually when buyers buy a product they based on the need. A need to try out new ideas for a low...
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...ay of advertisement can capture the attention of users and if the advertisement content is so attractive, the users will further process to Groupon to look at the deals.
d) Enlarging new customers:
A research on the consumer purchase behavior is an estantial needs. The analysis data will provide more information on who, how, and why to buy, and also understanding the competotors marketing strategic plan. Secondly, by analyzes majority subscribers age group, gender, preference items. Sending regularly email on current promotion items and offer them with the 1st trial discount voucher to conver the subscribers into customers. This is the possible way to attact more new customer buying with Grouponand develop Groupon in their mind. If they are happy with their previous purchase from Groupon, the possibility to continue purchase from Groupon has been increased.
Historically, brands were “a form not of exploitation, but of consumer protection. In pre-industrial days, people knew exactly what went into their meat pies and which butchers were trustworthy; once they moved to cities, they no longer did.
• During the time I worked at Groupon Taiwan, we created our new app, in the first week, there were only few thousand loyal customers that downloaded our app. I set out with an objective to double our app downloads. With a new devised plan, I purchased few prizes for the campaign as a reward for the promotion, and added new solid advertisements to all our social channels with revised target strategies to best suit our audience. Also we started to negotiate with high traffic websites, including three of the biggest portal sites in Taiwan to promote our campaign
There is a significant difference in the way Groupon markets itself to consumers and businesses. The majority of the consumer marketing campaigns are published online and on television. Groupon heavily relies on social media to reach consumers. The company counts on word of mouth to be spread through the social networks. Primarily using social commerce, Groupon markets specific groups to reach in their advertising campaigns. Creating a well-developed marketing campaign allows the company to reach the targeted group of people and save valuable marketing resources. The company also utilizes emails as a way to reach consumers. Groupon concentrates more time and money when it comes to marketing to businesses. The company offers an experienced
The term 'branding' in modern marketing is generally originated in the agricultural practices of the medieval age. The farmers 'branded' their animals with the iron and then they were able to identify to whom a particular animal belonged. Artisans 'branded' their products, for example, expensive silver tableware. Smiths 'branded' their swords. The role of the brand is to identify products by the same way as for medieval farmers and for modern corporations as well.
...havior of Zara brand. The customers visit often and they find new staff to asset them on each visit. More so, it can be seen that the customers see any new product, and they have the tendency to buy it. This is because they are in the fear that the main product might not be there on their next visit. Also, there it is scarcity of the product due to its high demand, sot eh customers buy it as soon as they see and like it.
Furthermore, I will explain the application of theory relating to me and my purchase. I will also review the marketing activity of the organization where I purchased from. This is to explain how the two theories have been used in the marketing strategy. In addition, recommendations regarding how the marketing strategy could have been improved by applying the 2 buyer behaviour theories are given.
Bringing in innovation in products to reduce choices, hence reducing the fatigue factor, increase utility of the fad & cut down prices.
But Google's strategy is far richer than merely adding new venues for the same kind of ads it shows on search results pages. Google knows that the reason that its ads have commanded premium prices (versus banner ads) is because Google ads have the customer's attention. When someone is searching for something, they are interested in the ads, while Web surfers might not be. Google understands that the attention paid to a message is a critical part of why it has high value to an advertiser.
In today’s competitive world where organizations looking for high profitability and market share, consumers have very important role. Companies are looking for capture consumers in order to get larger market share. For this reason organization developed a number of techniques and tools. One of such tools is consumer behavior which has been come from economic theory. Consumer behavior is mainly studying the factors and situations that can affect purchase decisions of consumers. Consumer behavior is being very important discipline of management sciences which help out to understand of customers’ decision making.
According to this approach, consumers are considered users of information that they obtain from external sources. Then, through their emotions, they filter that information and make the decision of which product they would like to buy. The Cognitive Approach changed continuously, offering an analytical tool for understanding consumer behavior. It has created somekey insights into determining consumer patterns.
The practice of brand management is a key component of marketing and performs an integral function by motivating the wants and needs of consumers. It is known that marketing can shape consumer needs and wants, however, consumers today appear to be more knowledgeable about the information regarding products. Consumers lead busy lives and have therefore gone to the internet as one of the many channels to learn about products in order to make informed decisions. This paper will discuss the argument that marketing should reflect the needs and wants of consumers rather than shaping these attributes. Due to the speed and ease of obtaining information, consumers do not take at face value strong marketing efforts that appear to be overly aggressive and push a brand rather than just being informative. Brand managers have to be aware of these changing dynamics and carefully craft brand management practices to meet the demands of consumers.
A brand identifies a seller’s product from a competitor’s product. There are three main purposes for branding product identification, which is the most important purpose, repeat sales, and new-product sales. Branding has a lot of terms that marketers use there is brand equity, global brand, and brand loyalty. Marketers also have different brand strategies that they use for different products or customers. It all depends on the consumer for them to decide which strategy they will use. The different strategies are generic products, manufacturer’s brands, private brands, individual brands, family brands, and co-branding. The branding purposes and the branding strategy make up the importance of branding.
To achieve and maintain success in such a complex system as market it is essential to every marketing person to understand clearly consumer behavior. Understanding consumer behavior is not that easy as it may seem from the first glance. The reason is that there are plenty of various factors that may influence it in one certain way or the other. When considering each of the factors it is also important not to forget that they ought to be analyzed as different parts of one whole picture, that is, in correlation with each other.
The research on consumer behavior assists the organization recognize and forecast the purchase behavior of the consumers while they are purchasing a product. Thus, the study of consumer behavior helps the marketers not only to understand what consumer's purchase, but helps to understand why they purchase it (Kumar, 2004). There are a lot of elements which can influence the purchase decision of consumers such as social influences, cultural influences, psychological factors and personal factors (Super Professeur, 2011). Understanding these factors helps the company to market the product on right time to the right consumers in order to generate more profits. On the other hand, if the marketers fail to understand these components that might influence consumers, they will fail to convince the consumers to purchase that product or will fail to meet the demands of consumers. However, consumer behavior is one of the stimulating and challenging areas in marketing studies being a human activity focused on the products and services. Thus understanding the behavior of the consumers is a great challenge. Moreover, it is not easy to get a full picture of consumer behavior as customers make plenty of different buying decision every day and they usually do not know exactly what influences their purchase. In short, basing on all
The most popular consumer sales promotions are directly associated with product purchasing. These promotions are intended to enhance the value of a product purchase by either reducing the overall cost of the product for instance get same product but for less money or by adding more benefit to the regular purchase price for example get more for the money.While tying a promotion to an immediate purchase is a major use of consumer sales promotion, it is not the only one. As we noted above, promotion techniques can be used to achieve other objectives such as building brand loyalty or creating product awareness. Consequently, a marketer’s promotional toolbox contains a large variety of consumer