Strength
• Technology
According to the Essentials of Marketing textbook, technology affects opportunities. Technology is the application of science to convert an economy’s resources to output (Perreault, Cannon, & McCarthy, 2014, p. 70). Affecting the marketplace in two ways: it creates opportunities for new products and for new processes (Perreault, Cannon, & McCarthy, 2014, p. 70). We feel that with technology Groupon.com can help people all over the world in need of goods and services. “Groupon does business in more than five hundred marketplaces spanning forty-eight countries around the world” (Groupon, n.d). As customers who uses Groupon the website uses technology to track the goods and services they view so on future returns to the site they have a recommended for you section.
Weakness
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By being so diverse in the marketplace all people of any age and gender can purchase items from the site. According to an online article I read, “the age groups of eighteen to thirty four years old calculate for sixty eight percent of purchases on the site. Also goods and services are at a low price that people making over seventy thousand pounds to people making less then nineteen thousand pounds can make purchases from the site. On the gender scale women make up seventy seven percent to men who only make up twenty three percent” (“Groupon- Business model”, 2012). According to the Essentials of Marketing textbook, broader market definitions include generic and product market definitions. “Deciding how broad to go isn’t easy. Too narrow a definition limits a firm’s opportunities—but to broad a definition makes the company’s efforts and resources seem insignificant (Perreault, Cannon, & McCarthy, 2014). Choosing the right amount is a difficult task but Groupon has done well with the balance of too narrow and too