Groupon Is An Internet / App Based Business - 1218 Words

Groupon is an internet/app-based business. They provide goods, vouchers, and even vacations at a discounted rate. Groupon was launched in 2008 and the site was dedicated to advertising local businesses by offering deals for a limited time (Edelman, Jaffe, Kominers. 2014). As a consumer you are able to discover businesses and merchandise in your local area, as well in other locations. They are still working on expanding their business, but currently you can find deals on things to eat, see, do, and buy in 47 countries (Groupon, Inc. (GRPN). 2016). The past five years they have steadily increased their sales/revenue with 3.19B in sales/revenue in 2014 (Groupon Inc. 2016). Groupon’s mission statement is: To connect local commerce,†¦show more content†¦They always strive to improve and get better, which is exactly what they are saying in their value, Intolerant of Mediocrity. Groupon always wants to be one step ahead and never stop improving or creating new systems, or programs. Building for the Long Term essentially says they are here for the long haul. Every decision they make in their business is to improve it, and hopefully keep the business going. Their last value, Making Life Less Boring, is saying that they want people to get out and experience life. Using Groupon will introduce you to goods, and activities, which can liven up you day. Groupon is becoming worldwide, but still maintain the local and small business aspect. In the SWOT analysis I have identified possible strengths, weaknesses, opportunities, and threats to Groupon. Strengths †¢ They are an online business, and have a cell phone app so you can access it almost anywhere. †¢ It operates internationally. †¢ Offers deals from a lot of different merchants, which creates a diversified range of goods and services. Weaknesses †¢ Deals may end up not profiting the merchants †¢ Negative reviews, and negative publicity. Opportunities †¢ They have the opportunity to pair up with bigger corporations, such as Google and Facebook. †¢ Increase products and services offered. Threats †¢ They have competitors who offer similar deal to them, like LivingSocial, and Google Offers. †¢ Most of the goods and services they offer are