In today's rapidly evolving market environment, companies like Groupon are known for creating demand by offering attractive deals and discounts that customers might not have considered before. Jeremy Stoppelman’s statement highlights how these businesses can generate interest and desire for products or services that consumers were previously unaware of or did not think they needed.
When we delve deeper into the meaning behind this quote, it reveals several key insights about consumer behavior and marketing strategies. First, it underscores the power of targeted promotions in shaping consumer preferences and desires. By presenting a product at an appealing price point, companies can pique interest and encourage purchases that might otherwise go unmade. Secondly, Stoppelman’s comment touches on the concept of manufactured demand—a practice where businesses create urgency around products or services to drive sales. This is particularly evident in the realm of daily deals and flash sales, which rely heavily on time-limited offers to generate excitement and prompt immediate action from consumers.
Jeremy Stoppelman is a prominent figure in the tech industry, currently serving as the CEO of Yelp Inc., one of the world’s leading online platforms for local business reviews. With extensive experience in digital marketing and technology, his perspective provides valuable insights into how businesses can effectively engage with their target audience through innovative promotional strategies.
