The group buying trend, is more of a collaborative coupons sold at one place to avoid time wastage and also easier for the customer to provide a catch to place an order for it. The websites focus on providing deep discounts in order to make customers buy in bulk serving both the purpose of seller and buyer. The buyer saves money and avoids the big burn in his hole and seller earn a handsome profit margin of 35-40% , in this the deal of the company being sold saves on advertising cost. These websites use social networking site such as Facebook and Twitter to make the customer familiar of the fact that a deal of such and such company and price is available.
While designing the promotional strategies for international market I suppose the marketer should be well aware of the taste and preference of the local consumer, his convenience and also his buying trend. While going through various articles on “group buying” I understood that preparing a promotional strategy for mature markets the marketer can sit back and relax because marketer separate business development from discounts but when it comes to developing markets the marketer has to plan short term strategy because the markets are dynamic. For eg: couple of Americans will go to have dinner at restaurant even if they don’t get discounts but in country like India, the marketer has to make short term strategy where frugality is in culture itself.
Also, while designing the promotion strategies for international markets the marketer has to scrutinize the most visited websites or websites which are popular among the masses so they can use them for their ads. Marketers can also tie up with search engines so that they can get what they are seeking for. Response!
Also, above I have already mentioned that without social networking sites like twitter n facebook it’s very difficult or one can say next to impossible that group buying could exist. Some other strategies could be more attractive discounts compared to competitors.
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