Consumers become familiar and more comfortable around things that they know well. Certain brand names are one of them. Some will go into a grocery store and know exactly their favorite brand of chips are and what they look like. For Groupon, their services has become a brand name that consumers will not forget to visit when they begin their shopping. It is a trusted brand and people know that there are plenty of coupons they can look at when they look through the coupons. Social Media will only continue to grow as the industry attack mobile content through any type of device possible that connects to any type of internet. Since Groupon is also a new brand name that everyone seems to recognize, consumers will continue to visit their site and apps and bring in a lot of traffic which in turn will bring in a lot of ad revenue for the company. Groupon will be worth more than 25 million dollars in a few more years as consumers continue to look for the best deals in the easiest and fastest way to save a buck in our economy today. Just as one groupon supporter stated “The biggest thing is (the daily deal websites) hit at the right time with the economy,”
-http://tonawanda-news.com/feature/x1623047360/Daily-deal-websites-like-Groupon-are-all-the-rage-these-days
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ReplyDeletets amazing how a company can be a million dollar company with something that seems so simple. Yet, the concept of Groupon is more than just coupons. It consists of deals, which change on a day-to-day basis, in which people have a limited amount as well as limited time to purchase deals, whether coupons, items, or services.
ReplyDeleteThese sites have become so popular to people. Another major competitor of Groupon is LivingSocial. They actually had greater traffic, yet that did not mean they were bringing in greater revenue.
All I know is I am hoping to come up with the next big thing! Hopefully it is something as simple as daily deals right!
http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2010/08/25/businessinsider-livingsocial-groupons-biggest-competitor-now-gets-more-web-traffic-than-groupon-2010-8.DTL
I agree that the Brand Name is very important especially in this day and age. We sometimes become so desynthesized to ad's that we only trust those with a reputable name. For example Facebook, Google, and so many other websites have so many ads along the side of their pages that we sometimes won't give these ads a chance because of fear of it being too good to be true.
ReplyDeleteSure Groupon is a trusted name and a big brand name right now, but who is to say that another company can't come by and be bigger with a greater idea? Just like how Myspace was on top of the world and then Facebook came along with the Wall Stream and took over? Now Myspace is dust trying to settle. Groupon will definitely continue to grow but they still have to keep their guard up.
ReplyDeleteBy the way they are worth $25 BILLION not million =)
Groupon has a revolutionary concept where customers are offered amazing discounts on the products and services that they use.I hope this blog is helpful for my How to join Groupon business.
ReplyDelete