TABLE OF CONTENTS
EXECUTIVE SUMMARY 3
ABOUT GROUPON 4
INDUSTRY DYNAMICS OF GROUPON 5
GROUPON’S INNOVATION 5
SOURCES OF GROUPON’S INNOVATION 5
THE LIFE CYCLE OF GROUPON 5
WHAT BUSINESS IS GROUPON IN? 6
GROUPON’S DOMINANT DESIGN 6
FORMULATING GROUPON’S INNOVATION STRATEGY 6
THE VALUES OF GROUPON 6
GROUPON’S TIMING OF ENTRY 6
GROUPON’S CORE COMPETENCIES 6
GROUPON’S CORE RIGIDITIES 6
IMPLEMENTING GROUPON’S INNOVATION STRATEGY 6
INDUSTRY DYNAMICS 6
GROUPON’S COLLABORATION STRATEGIES 6
PROTECTING GROUPON’S INNOVATION 6
GROUPON’S ORGANIZATIONAL STRUCTURE 6
CONCLUSION 7
REFERENCES 8
EXECUTIVE SUMMARY
This project provides an analysis and evaluation of Groupon’s strategies of innovation, highlighting their proactive approach in providing an interactive and synergetic online network with both their merchants and customers.
Utilizing the schema set forth in Strategic Management of Technological Innovation by Melissa Schilling and extensive information collected from various resources including the Groupon company website, news reports and personal experience of the author, the present study will outline the steps that led to the success of Groupon since its creation in 2008. There will also be a focus on the customer-oriented approach which enabled Groupon to become a valuable resource, and how the company as a whole plans to grow in order to gain access to and provide additional services to more consumer markets.
A key to Groupon’s success has been a result of a highly concentrated focus on meeting the requirements not only of its customers, but also of its corporate partners who are utilizing its marketplace to promote their businesses. Their users, both the businesses and customers, have played an...
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Bildner, Megan. "Groupon: A Brief History Of The Rise And Fall Of Andrew Mason." Daily Deal Media. Dailydealmedia.com, 1 Mar. 2013. Web. 12 Apr. 2014.
"Get the Most Effective Local Advertising Available." Benefits of Advertising With Groupon. Groupon Works, n.d. Web. 21 Apr. 2014.
Groupon. Groupon 2013 Annual Report. Chicago: Groupon, 2014.
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O'Dell, Jolie. "The History of Groupon." The History of Groupon. Forbes Magazine, 07 Jan. 2011. Web. 12 Apr. 2014.
"Our Solutions." Solutions for Merchants. Groupons, n.d. Web. 19 Apr. 2014.
Schilling, Melissa A. Strategic Management of Technological Innovation. 4th ed. New York: McGraw-Hill, 2013. Print.
Daumeyer, Rob. "Beware of Too Much Business" Cincinnati Business Courier (June 1996): 9pars. 28 June 1996
Nordstrom can continue providing their exceptional online experience and client focused approach using their online system by offering an unmatched online experience that copies their in-store customer service. This would allow Nordstrom to raise its revenue considerably as well as further improving their brand image. I will also discuss specific ways of successful execution, and the steps required to provide Nordstrom a stunning picture of how to execute strategy.
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The goal of this paper is to provide key insights and concepts from three strategy books and then begin the strategy planning process for five different products. The three books shy away from advocating old school Porter’s concepts and instead recommend strategic innovation since modern market environments are dynamic. In Book 1, "Thinkers 50 Strategy," Crainer and Dearlove (2014) discuss the evolution of strategy concepts from early military strategists (Sun Tzu) to more recent influential works such as Michael Porter’s ‘Five Forces’, Gary Hamel and C.K. Prahalad’s resource-based ‘Harmonic Strategy’, Richard D’Aveni’s new 7-S framework for hypercompetition, W. Chan Kim and Renée Mauborgne’s ‘Value Innovation’ and ‘Blue Ocean Strategy’, David P. Baron’s ‘Integrated Strategy’ that includes nonmarket strategy and Pankaj Ghemawat’s ‘World 3.0’ for global strategy. Rita McGrath underscores the need for newer strategy techniques: “Today we’re seeing industries competing with industries, different arenas where competition manifests itself. Strategy, entrepreneurship, and innovation are all bleeding into each other” (cited in Crainer and Dearlove, 2014, chapter 1, last para.).
New businesses will take longer to thrive with the United States falling economy. The faltering job market and the deepening slump in housing threaten to hurt consumer spending. Consumers are becoming more conscious of their spending and therefore using cash to pay for smaller necessary purchases. The cost of entertainment and other presumed luxuries may be pushed to the background by most families, when having to choose whether to pay for a bill or treat the family out. Thriving businesses will understand the need to provide a service or product at affordable prices.
This paper will profile Jeff Hawkins, Chief Technology Officer (CTO) for PalmOne, Inc. examining qualities that Mr. Hawkins exhibits that make him influential leader. The paper will also examine details of the business strategy that make this man an exceptional innovator and his contribution to eBusiness technology.
Annual Report 2012 Costco Wholesale: Year Ended September 2, 2012 [PDF document]. 1-7. Retrieved from Costco Wholesale Financial Reports:
Press, James. "Bill & Melinda Gates Foundation History." History of Bill & Melinda Gates Foundation – FundingUniverse. : International Directory of Company Histories, Vol., Fall 2001. Web. 04 Dec. 2013.
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:
Greenberg, Andy. "gree'Silk Road 2.0' Launches, Promising A Resurrected Black Market For The Dark Web." Forbes. Forbes Magazine, 6 Nov. 2013. Web. 24 Nov. 2013. .
Ford Direct Marketing. (2009, February 18). Ford Direct Marketing. Retrieved April 17, 2011, from http://forddirectmarketing.com
The company has self organizing team and use groupware, emails and blogs to communicate with the customers.
Open innovation opens the doors for a vast array of ideas and suggestions that can help an organization succeed in being innovative. This will allow the organization to hold a competitive advantage when compared to their competition. Organizations who understand the importance of managing technological innovation will have an easier time succeeding than those organizations who feel they are safe and put innovation on the back burner. Managing technological innovation is essential in this day and age, where technology is advancing at a faster than