Groupon is a remarkable coupon website that offers collective discounts to a group of consumers. It tends to form a central purchasing power for consumers in the market. A coupon is a document that can be exchanged for a financial discount to the market. This product needs to be adopted by all markets, to boost purchases and ensure that consumers get essential products at the best prices possible. Recommendations such as the formation of consumer unions, use of technology in business activities, bulk selling, and government involvement in business activities will help markets adopt the product.
This essay explicates recommendations that would increase adaptability of group on by markets.
Formation of consumer unions will gradually increase the adoption of groupings in markets. Consumers through their representatives will negotiate with sellers, to embrace the product. The consumer unions will be instrumental in pushing for discounts to be allowed to their members for increased purchasing power. In addition, these unions will make sure that unscrupulous business people who only aim at making supernormal profits do not discriminate against consumers. Their collectiveness will ensure common and central purchases leading to collective financial discounts. Through their union, they can easily present documents that would enable them access trade discounts through groupon. Increased discounts in exchange of coupons will make sure most consumers reach their maximum utility levels. Collective purchases will also be realized hence increasing demand for various commodities in the market.
I would recommend that technology be applied in business activities. The use of technology in business activities will gradually lead to the adoption of the product by markets. The product involves the use of technology. Lack of technological application in markets will act as an excuse for non-adaptability of the product. All markets must employ technology when dealing with consumers especially in matters related to discounts. The documents presented for exchange with financial discounts will also be technologically designed to boost their validity. This will ensure that sellers are well cushioned against unnecessary losses in the market. Technology will boost efficiency when the product is adopted by the market. The use of technology would make its incorporation into the market simpler.
Government involvement in market activities will boost adaptability of the product by markets. The central government is in a strategic position, to formulate some rules governing markets. Government intervention in market operation will gradually make markets positively adopt the idea to ensure the consumer rights are respected. The government can easily invest in these markets and agitate for the consumer position. This is especially to make sure that they get essential commodities easily and at lower prices. The government would approach a group of manufactures on behalf of unionized consumers willing to buy in bulk. In addition, the government will ensure there are enough funds to cater for the adaptability of the product by markets to boost fairness. A fair ground will ensure consumers’ documents are accepted in exchange for financial discounts.
I would recommend that sellers adopt the policy of bulk selling. Bulk selling will promote easier adoptability of the product by markets. A group of buyers can easily be catered if the sales are administered in bulk. Through bulk selling, a group of consumers is motivated to come together and purchase the whole unit. It is easier to administer financial discounts to them through groupon as they present their documents as one unit. Markets will adopt the product at a faster rate because risks of loss are minimized.
In conclusion, groupon refers to a particular coupon that offers group discounts to a group of consumers. This product can boost efficiency and lead to increased purchases if adopted in markets. The notable documents will ensure consumers easily get the financial discounts required and thus consume more.