Harvard Case - Experience! The Finger Lakes: The Groupon Partnership Decision
"Experience! The Finger Lakes: The Groupon Partnership Decision" Harvard business case study is written by Lynda M. Applegate, Chekitan S. Dev, Gabriele Piccoli, Arnold B. Peinado. It deals with the challenges in the field of Entrepreneurship. The case study is 32 page(s) long and it was first published on : Jul 15, 2013
At Fern Fort University, we recommend that Experience! The Finger Lakes (E!FL) proceed with caution regarding the Groupon partnership. While the potential for increased customer reach and revenue is significant, the partnership presents several risks that need to be carefully considered and mitigated. E!FL should conduct a thorough analysis of the potential benefits and drawbacks of the partnership, including a detailed assessment of the financial implications, the impact on brand image, and the potential for managing the influx of Groupon customers.
2. Background
Experience! The Finger Lakes is a startup company offering curated experiences in the Finger Lakes region of New York State. Founded by two entrepreneurs, the company aims to leverage the region?s natural beauty, wineries, and cultural attractions to create unique and memorable experiences for visitors.
The case study focuses on E!FL?s decision to partner with Groupon, a leading online platform for local deals and discounts. The partnership presents a significant opportunity for E!FL to reach a wider audience and generate revenue. However, it also raises concerns about potential dilution of brand image, customer management challenges, and financial risks.
3. Analysis of the Case Study
To analyze the Groupon partnership decision, we will use the Porter?s Five Forces framework to assess the competitive landscape and the Value Chain Analysis to understand the potential impact on E!FL?s operations.
Porter?s Five Forces:
- Threat of New Entrants: The tourism industry in the Finger Lakes is relatively competitive, with numerous existing players offering similar experiences. However, the barrier to entry is relatively low, making the threat of new entrants moderate.
- Bargaining Power of Buyers: Customers have a high degree of bargaining power due to the availability of numerous alternative experiences. Groupon?s involvement could further increase buyer power by providing them with access to discounted offers.
- Bargaining Power of Suppliers: The bargaining power of suppliers, such as wineries, attractions, and accommodation providers, is moderate. E!FL?s ability to negotiate favorable terms depends on its volume of business and its ability to offer unique experiences.
- Threat of Substitute Products: The threat of substitute products is high, as customers can choose to visit other regions or engage in alternative leisure activities.
- Competitive Rivalry: The competitive rivalry among existing players is high, with numerous companies vying for customers? attention. Groupon?s involvement could intensify competition by introducing new players into the market.
Value Chain Analysis:
- Inbound Logistics: Groupon?s partnership could potentially disrupt E!FL?s existing supply chain by introducing a new channel for customer acquisition and experience booking.
- Operations: Managing the influx of Groupon customers could pose significant operational challenges, requiring E!FL to adjust its existing processes and infrastructure.
- Outbound Logistics: Groupon?s platform could streamline the delivery of experiences to customers, potentially reducing E!FL?s marketing and distribution costs.
- Marketing and Sales: Groupon?s reach and marketing capabilities could significantly increase E!FL?s customer base and generate new revenue streams.
- Service: The partnership could impact customer service by introducing a new channel for customer inquiries and complaints.
- Human Resources: E!FL might need to hire additional staff to manage the increased workload and customer interactions associated with the Groupon partnership.
4. Recommendations
E!FL should adopt a cautious approach towards the Groupon partnership, focusing on risk mitigation and strategic planning.
- Conduct a thorough financial analysis: E!FL should carefully evaluate the financial implications of the partnership, including the potential revenue generated, the cost of managing Groupon customers, and the impact on profitability.
- Develop a comprehensive marketing strategy: E!FL should create a marketing strategy that effectively targets Groupon customers while maintaining its existing brand image and customer base.
- Implement robust customer management processes: E!FL needs to develop efficient processes for managing the influx of Groupon customers, including booking, communication, and customer service.
- Negotiate favorable terms with Groupon: E!FL should negotiate favorable terms with Groupon, including a reasonable commission rate, clear performance metrics, and an exit strategy.
- Monitor and evaluate the partnership: E!FL should continuously monitor the impact of the partnership on its business and make adjustments as needed.
5. Basis of Recommendations
These recommendations consider the following factors:
- Core competencies and consistency with mission: E!FL?s core competency lies in curating unique and memorable experiences. The Groupon partnership should align with this mission while ensuring the quality of experiences remains high.
- External customers and internal clients: The recommendations prioritize the needs of both existing and potential Groupon customers, while ensuring the satisfaction of internal stakeholders, including employees and partners.
- Competitors: The recommendations acknowledge the competitive landscape and aim to differentiate E!FL from its competitors by offering unique experiences and maintaining a strong brand image.
- Attractiveness: The financial analysis will provide quantitative measures to assess the attractiveness of the partnership, considering factors like NPV, ROI, break-even point, and payback period.
6. Conclusion
The Groupon partnership presents both opportunities and risks for Experience! The Finger Lakes. By carefully considering the potential benefits and drawbacks, conducting a thorough analysis, and implementing appropriate mitigation strategies, E!FL can leverage the partnership to achieve its growth objectives while preserving its brand image and customer satisfaction.
7. Discussion
Alternatives:
- Reject the partnership: This option would allow E!FL to focus on its existing business model and avoid the potential risks associated with the Groupon partnership. However, it would also limit E!FL?s growth potential by restricting access to a wider audience.
- Develop a customized partnership with Groupon: E!FL could negotiate a customized partnership with Groupon, tailored to its specific needs and objectives. This could involve setting specific terms and conditions, targeting specific customer segments, and controlling the marketing messaging.
Risks:
- Dilution of brand image: The partnership could negatively impact E!FL?s brand image if Groupon customers perceive the experiences as being discounted or low-quality.
- Operational challenges: Managing the influx of Groupon customers could strain E!FL?s existing infrastructure and resources, potentially leading to service disruptions and customer dissatisfaction.
- Financial risks: The partnership could result in lower profit margins due to Groupon?s commission fees and the need to offer discounts.
Key Assumptions:
- The Groupon partnership will generate a significant increase in customer reach and revenue.
- E!FL will be able to effectively manage the influx of Groupon customers.
- The partnership will not negatively impact E!FL?s brand image or customer satisfaction.
8. Next Steps
- Conduct a detailed financial analysis of the partnership.
- Develop a comprehensive marketing strategy for Groupon customers.
- Implement robust customer management processes.
- Negotiate favorable terms with Groupon.
- Establish a monitoring and evaluation system for the partnership.
By taking these steps, E!FL can make an informed decision about the Groupon partnership and maximize its potential while mitigating the associated risks.
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Case Description
In 2010, Experience! The Finger Lakes (ExperienceFLX), a tour operator offering guided tours and concierge services in the Finger Lakes region of New York State, was at a crossroads. The business was poised for growth, and its owners, Laura and Alan Falk, were considering signing a deal with Groupon, the online coupon firm, to see if a Groupon deal would help the ExperienceFLX bring in new customers. While the prospect of marketing ExperienceFLX's business to a new customer base through Groupon was very appealing, the Falks found that designing a deal that met Groupon's requirements while still allowing ExperienceFLX to make money and without endangering their relationships with area winery partners was a real challenge. The Falks had to decide whether a Groupon deal worked well for them, and if so, how to manage Groupon redemptions by their customers in a way that made financial sense.
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