Groupon
Groupon
As a group, we have chosen to examine and report on Groupon and relevant information on the marketing strategies and efforts employed by the organization, as well as the ethics and social responsibility related to Groupon’s marketing. Groupon’s mission statement according to their letter to shareholders is “To become the operating system of local commerce.” Groupon has stumbled and disappointed users of their services because of rapid growth. Instead of focusing on growth, Groupon must listen to their stakeholders and improve relations with the customers-both merchants and consumers, as well as investors of the organization. We want to evaluate the company’s objectives, goals, marketing strategy, marketing mix, as well as the ethics and social responsibility of this organization.
Groupon is a Chicago based company started by a Northwestern musical prodigy, Andrew Mason. It had an IPO last November that priced the company at nearly $20 billion. Since then, the company’s fortunes have suffered and the stock is currently valued at 40% of the IPO price. The drop in their stock value makes sense since Groupon as a whole isn’t profitable since their U.S. division only made 12% profit, but this was with their heaving marketing and administrative costs associated with it, so in actuality we no one besides Groupon can be certain what the real profit was, there could be a possibility they suffered a loss, thus making this company intriguing on so many fronts. According to Forbes, “Groupon is the fastest growing company in US history.” As a result of this growth, Groupon has struggled with maintaining and developing long lasting trust by its users. Groupon states on their company webpage that the company philosophy is “we treat our customers the way we like to be treated.” This philosophy involves providing deals that members of Groupon themselves would like to buy, no terms and conditions added into these deals, and unbelievable customer service.
As a group, we have chosen to examine and report on Groupon and relevant information on the marketing strategies and efforts employed by the organization, as well as the ethics and social responsibility related to Groupon’s marketing. Groupon’s mission statement according to their letter to shareholders is “To become the operating system of local commerce.” Groupon has stumbled and disappointed users of their services because of rapid growth. Instead of focusing on growth, Groupon must listen to their stakeholders and improve relations with the customers-both merchants and consumers, as well as investors of the organization. We want to evaluate the company’s objectives, goals, marketing strategy, marketing mix, as well as the ethics and social responsibility of this organization.
Groupon is a Chicago based company started by a Northwestern musical prodigy, Andrew Mason. It had an IPO last November that priced the company at nearly $20 billion. Since then, the company’s fortunes have suffered and the stock is currently valued at 40% of the IPO price. The drop in their stock value makes sense since Groupon as a whole isn’t profitable since their U.S. division only made 12% profit, but this was with their heaving marketing and administrative costs associated with it, so in actuality we no one besides Groupon can be certain what the real profit was, there could be a possibility they suffered a loss, thus making this company intriguing on so many fronts. According to Forbes, “Groupon is the fastest growing company in US history.” As a result of this growth, Groupon has struggled with maintaining and developing long lasting trust by its users. Groupon states on their company webpage that the company philosophy is “we treat our customers the way we like to be treated.” This philosophy involves providing deals that members of Groupon themselves would like to buy, no terms and conditions added into these deals, and unbelievable customer service.