...UNIVERSITY TITLE: CASE STUDY OF FACEBOOK CHRISTINE ONYANGO Facebook is a social networking site that was created by Mark Zuckerberg and Eduardo Saverin in 2004 driven by the urge to connect the world and create a mirror of the real world community rather than just an online community. By that time, there were a few such sites already in existence; MySpace and Friendster. These sites would at times face technical instability and had a lot of distracting advertisements. What made the big difference for Facebook is that the founders focus on the market and customize their site depending on what they deem fit for it. (Adam Hartung, 2011) in Forbes’ blog, stated that Zack’s willingness to let the business to go wherever the market wanted it, is one of the factors that led to the rise of Facebook. Some of the things for instance include; adding the capability to upload photos and identify the people on those photos as well as “tag” your friends on pictures and videos, game applications that basically allowed people to play games and the news feed feature was a great innovation that allows people to view “news” as posted by their Facebook friends. At the start, the founders came up with a fund of $1,000 to be able to launch the site. Later on in the same year, Peter Thiel made an angel investment of $ 500,000 for 10.2% of the company. In 2005, Accel Investment made a $12.7 million venture capital investment and then joined the board. In 2006 Facebook received $27.5 million from Greylock...
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...CO-CREATION EXERCISE (1) How can you use co-creation to create a competitive advantage? First of all we must define co-creation as a marketing strategy. It differs from the traditional view of the firm and passive consumer market and emphasizes that the market can be considered a forum for firms and active customers to dialogue. Co-creation can, in a matter of fact, create a competitive advantage. In today's world customers have been empowered and co-creation allows firms to mantain an interaction with consumers, for instance through the Internet. Furthermore, the product development process is faster and the costs are reduced (once you start co-creating your investment risks go down)... It also reduces marketing costs, because of the so called “word of mouth”, which means that if people like the experience with the firm, they will probably share it”. In fact, the real advantage of using co-creation is that firms learn faster what customers do or do not value. (2) Imagine you own a restaurant and you want to apply co-creation. What initiatives would you start? The restaurant we own is situated in the centre of Palma. After learning about co-creation, we have decided to change our traditional view of our company and promote interaction with our clients, in the following ways: Our first initiative would be to open a facebook account, where clients could share there thoughts and services about their experience in our business. Nextly, we would do a monthly...
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...Christian Arenas ENG-106 October 30, 2014 Professor Bump Facebook: Social Media Phenomenon Before, we used to have to call or go to a friend’s house to see if they were home or to see what were they doing but now that tedious little task has been erased thanks to Facebook. What is Facebook? Well, to those who may not know, Facebook is an online social networking service in which people are able to connect with people from any part of the world ranging from friends, family, etc. Since its creation in 2004 by Harvard student, Mark Zuckerburg, this social networking phenomenon has become the most popular ways to communicate online with people. Now, is Facebook actually popular? Well, according to Protalinski, “Last quarter, Facebook passed 1.19 billion monthly active users, 874 million mobile users, and 728 million daily users” (Protalinski, 2014). With so many people logging onto the social network and continuing to get new users, Facebook has become and extremely popular phenomenon to the public. If you ask someone if they have a Facebook, then more than likely they will have one. On the other hand, they might not have one but most likely they will know what Facebook is. Some would assume that Facebook is intended for the youth but that is not the case. According to Banks, “From grandparents to teenagers, Facebook — the largest of the social networks — attracts users of all ages” (Banks, 2011). The social network does not have any limits when it comes to age, allowing...
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...Research Report September 2, 2014 Presented by Partner Research Findings - Facebook • Facebook is the largest consumer social media site in the world with in excess of 1.317 billion active monthly users (2014, Smith) • Over 1 million websites have integrated with Facebook. 80% of users prefer to connect with brands on Facebook (2013, Cooper) • The percentage of marketing professionals who are advertising on Facebook is 92% (Tactics, 2014) Recommendations - Facebook • It is recommended that the company creates and maintains a corporate Facebook site to engage, nurture and monitor B2C relationships • Site creation and post-live launch content to be executed by the marketing department, with the help of outside specialist if needed • At 50% site completion and prior to live site launch the Facebook site will need management review and approval • Also recommended is a designated employee solely responsible to manage all social media channels recommended herein Justification - Facebook • Facebook is the largest social media platform where content is disseminated directly to the public on a very targeted basis • The public is interconnecting with each other at an increasing rate via social networks. Facebook is the opportunity to engage mas consumers • Consumers like to do business with people they trust. By engaging consumers the company can build a loyal fan base (Stelzner, 2014) • Facebook is the second largest connector of B2B (DeMers, 2013) Research Findings -...
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...QRT Task 1 Business Proposal Frilly creations is a unique children’s boutique that specializes in children’s and women’s clothing. It has been in business for 17 years and in 2009, its tremendous growth enabled them to be able to move to a larger location. They have managed to continue to be very successful even without having a strong online presence. However, because of this, it makes an online expansion seem to be an attractive and low-cost way to increase their sales even more so. This online expansion business proposal outlines the viability of the children’s clothing market, including, but not limited to online competition issues, marketing strategies that can overcome these issues, and even how the use of social media can help to increase their profitability. 1) Boutiques which specialize in children’s clothing, as well as women’s clothing are in most instances single stores. Because of this, a lot of times they have a lot to gain from expanding their business into the online phase. In 2013, in the United States clothing accounted for roughly 18% of all online sales. This number includes men, women, and children but also undoubtedly continue to grow because people will continue to shop online because it is more convenient, not to mention sometimes even cheaper because of the promos that are given. It is said that the annual growth rate for online retail sales since 2007 is 19% (Ben-Shabet, Moriarty, & Nilforoushen, 2014). And undoubtedly, convenience is a big...
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...com/contact-us/ ) Feel Free to Search your Class through Our Product Categories or From Our Search Bar (http://hwguiders.com/ ) Answer each question below. Answers should be approximately 100 words per question. What are the different forms of social media that exist today? Provide examples of different social media and their primary purposes. Social media are media for social interaction, using highly accessible and scalable publishing techniques. Social media use web-based technologies to turn communication into interactive dialogue. A common thread running through all definitions of social media is a blending of technology and social interaction for the co-creation of value. There are basically 7 forms of Social Media. 1. Blogging — WordPress, Blogger 2. Social Network — Facebook, MySpace, Orkut, Hi5, LinkedIn 3. Microblogging — Twitter, Google Buzz, Yahoo Meme 4. Social Bookmarketing — Digg, StumbleUpon, Mixx, Reddit 5. Video Sharing — Youtube,Hulu 6. Broader Content Sharing — Enips, Scribd, Slideshare 7. Forums — Yahoo Answers HUM 186 Week 1 – The Internet Social Media Get Tutorial by Clicking on the link below or Copy Paste Link in Your Browser https://hwguiders.com/downloads/hum-186-week-1-internet-social-media/ For More Courses and Exams use this form ( http://hwguiders.com/contact-us/ ) Feel Free to Search your Class through Our Product Categories or From Our Search Bar (http://hwguiders.com/ ) Answer each...
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...Ideasaurus 15 Facebook Custom Audience Integrated Marketing Communications 15 Facebook Custom Audience Integrated Marketing Communications Executive Summary Project Purpose Facebook’s Custom Audience is one of today’s fastest growing marketing solutions. Ideasaurus’ goal is to increase the awareness and consideration of Facebook’s Custom Audiences with B2C (Business to Consumer) marketing decision makers as well as increase the awareness of the Custom Audience product and encourage B2C marketers to consider utilizing Custom Audiences at their company.The underlying value of Facebook’s Custom Audiences is that it allows marketers the ability to conduct ethical advertising using their own databases while maximizing ROI on their social media advertising budget. With many small to mid size companies, social media advertising was never a real option with very little reliable data to understand if the investments in Facebook’s advertising features capture the consumers and move them from the consideration phase to the buying phase. Businesses can reach their current consumers on a larger scale and understand them at a deeper level by being able to build consumer profiles to better market to them, and turn generating more exponential growth for the company. Researching the most beneficial Integrated Marketing Communication channels was critical for Ideasaurus’ plan to execute the a marketing plan for either a small to midmarket business. Ideasaurus’ IMC channels...
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...Summary Molson Canada has been facing negative reactions their recent social media marketing initiative, Cold Shots Campus Challenge. Parties claimed that this Facebook contest promoted irresponsible drinking behaviours among university students. As a result, Molson pulled the contest one week before the scheduled deadline. Now, Molson must evaluate the use of social media, specifically Facebook, in its marketing strategy. The available alternatives are to revamp the Facebook initiative, to focus on static webpages or to focus on traditional marketing strategies. The recommendation is to revamp the Facebook initiative over a period of three months with ongoing monitors and checkpoints. The projected cost of this recommendation is $75,500 initially, with recurrent annual costs of $36,000 per year. The advantage of this recommendation is that it can be easily expanded to include other types of social media, such as micro blogging, video sharing, photo sharing and online forums if the response to this project is positive. 2 I. Key Issues Molson Canada faces four key issues moving forward from November 2007. The first issue is related to brand image. Brand image is the most important and urgent issue (see Chart 1) because of the negative feedback Molson received as a result of the Cold Shot Campus Challenge Facebook initiative. Molson is seen as promoting irresponsible drinking behaviour. In order to rectify the situation, Molson build and increase corporate social responsibility...
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...St. Anthony College Camilmil, Calapan City, Oriental Mindoro Term Paper (A Facebook Case Study) In Partial Fulfillment for the Subject SOFTWARE ENGINEERING Presented by: Arexter R. Male Bachelor of Science in Information Technology March 14, 2012 INTRODUCTION Facebook.com is a popular online social network site providing its users with a means for representing their identities in the digital world. With the “Profile,” each user can manipulate his or her online identity that concurrently delineates personal information and converses with other online identities or “Friends.” Gender, date of birth, hobbies, interests, and relationship status are some of the identifying pieces of information that users display to fill out their Profile. The Profile not only depicts the user, but also shapes the representation of other individuals on Facebook. Scholars have recently begun to study the Facebook phenomenon using surveys and statistical analyses, but none have used ethnography as a means for analysis. This paper draws upon ethnographic data to provide a phenomenological explanation to the Facebook experience. It argues that the digital world is a large part of the experience of young Americans and that the Internet is more social than commonly thought. Moreover, this paper problematizes the static nature of the Profile, arguing that the Profile converses directly with others’ Profiles in a constantly changing digital context that is simultaneously recreated...
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...strategies to compete as a public company, partly in response to the belief among some users and analysts that Facebook was losing its ability to satisfy customers and shareholders simultaneously. In this regard, what should the firm do strategically to ensure its long-term and profitable growth? While Facebook's advertiser base is constantly looking to the firm for additional innovative means to target users, its investors are questioning its ability to monetize its user base. Relatedly, in a highly dynamic and competitive industry, how will Facebook out-innovate its rivals and retain customer “mind-share”? Along with his top management team, Zuckerberg concluded that the firm should focus on both worldwide and domestic market growth. With many recent product innovations and strategic changes, 2013 and the few years beyond were expected to defining ones for the young, public social networking firm. Situational Analysis (pages 12-3--12-4) One of the most innovative creations in the twenty-first century is social networks. Connecting the world through schools, families, businesses, photos, and just about every other piece of information, social networks thrive on people sharing their life stories. In the last ten years, the most important networks have been Facebook, Myspace, Twitter, and LinkedIn, with several additional sites surfacing within the last few years. Facebook in particular is considered a disruptive innovation that has interfered with search engines such as Google...
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...marketing has become the important tool in any business strategy. Today I am going to tell you one of the new marketing concepts that have been practised by various companies over the world: we call it value co-creation or consumer generated value. I believe most of the local or small business owners may not heard of this at all, I will try to make my explanation simple. Before I start, let me tell you a story of my own experience. During my birthday last year, I received a birthday cake from my friend that full with my favourite cartoon character Winnie, The Pooh miniatures. It is designed in a way that you would not be able to find it in any stores out there. Out of curiosity, I browsed through their facebook page and found out the owner has used a very interesting slogan: You dream it, we bake it. Unlike the traditional way of select and pay in most of the bakery shops, in this case where rather than rely on the creativity of bakery shop, my friend is able to share his idea, experience and expectation on how he wants the cake to be looked like. In other words, he has participated in a new product development and co-created value with the shop owner. The whole process is less about transaction and more about interaction. A simple way of understanding it is value co-creation is the ability of the company and consumer to create additional value for each other. It is not about what you can provide to your customer but is about what your customer wants or wishes. Consumers are no...
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...different social networks. After watching a few videos on YouTube, posting some comments on my best friend’s Facebook profile, and replying a few e-mails, I noticed a Domino’s Pizza ad, on the right side of my Facebook profile offering me a pretty good deal in spite of not being “2 x 1 Tuesday”. I picked up my phone on the spot, and ordered a couple of pizzas for dinner. After this particular incident I have realized the massive marketing campaigns, all over the web, more precisely in the social networks I use; Facebook, Twitter, YouTube, and Bloggers mostly. Every year companies are using more of their budget on this type of marketing; like Pepsi, that dropped TV advertising for the 2010 Super Bowl after 23 years. Instead, they’re investing in a $20 million social media campaign. This rogue techniques are proving to be extremely effectve. A very clear example is Dell, that has attributed over $6.5 million in revenue directly to Twitter. In the United States, one of the most important markets worldwide, 99% of online retailers have a Facebook Page and 91% have a Twitter account. Therefore, Social media marketing is one of the best and most inexpensive methods to advertise and promote your company or brand, by gaining website traffic or attention through social media sites. Obviously, one of the most frequent questions about social media is the cost. What will launching a blog/Facebook fan page/Twitter presence cost me? What will a social media strategy cost? The answer is never clear-cut...
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...of the times, the network has become one of the most important parts of people's lives. The network has changed our world. People can reduce their distance through the internet. They can communicate with each other directly on the internet no matter how far away without the limitation of region. In the network, there are many virtual communities. What is a virtual community? It is a social network of individuals who interact through specific social media, like Facebook, Twitter, Pinterest and MySpace, etc. In the virtual community, people can suggest their ideas; people can share their experiences and photos; people can trade with each other. Facebook is one of many social networking tools available which is considered popular due to its versatility in what can be shared-everything from installing and creating fun applications (e.g. movie quizzes) to posting photos of your recent family reunion (Bernadette 8). This is correct format for an MLA in-text citation. Facebook gives us a lot of benefits in our lives. Facebook has changed our...
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...in any way without permission from the author. Enjoy! Hot Tip: If you would like to learn how to make this report your 24/7 “Digital Sales Machine” then be sure to read the last page for full details. 1 Section I: Facebook Social Ads Exposed Facebook Social Ads work virally, but rather than being spread in a random fashion, they are placed on Facebook member pages, based on their profile data – which can make them a powerful sales aid for marketers – especially in this current decade, where mobile devices are now replacing personal computers at the rate of 4 – 1. However, like any data system spread via the net, there are rules, restrictions and random factors that can greatly inhibit or enhance their success. In this special report, we will explore the ins and outs of Facebook Social Ads. What this report is not… It is not a complete guide to Facebook Ad Creation. Instead, it focuses more on the nuances you will not pick up from Facebook’s easy “Advertising Creation” walk-through… and important drawbacks to watch out for. How Facebook Social Ads Work Marion loves horseback riding, and publicly says so in her Facebook profile. A successful Equestrian Center wants to promote its children’s summer camp, so it purchases a Facebook Ad. Facebook uses Insight, a powerful demographics tool, to place the Ad via a feed on Marion’s profile, after extracting the information that she has 3 children, is passionate about all things equestrian and lives within a close geographical...
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...English Assignment The Social Network, 2009 Deadline: 12 October 2012 Write a Movie Review on “the Social Network” (200 words) Facebook is a social networking website that everyone is familiar with. However, few students truly understood the story behind Facebook’s creation. They weren’t familiar with the people behind the film, it’s beginnings, or the conflicts that occurred around the creation, until the premiere of the film. Mark Zuckerberg was a relatable character and a dedicated Harvard student who had multiple social issues. He was inspired by his fellow students and an intemperate hacking catastrophe to create perhaps the greatest and most marketable social networking website ever. As the film progressed, the story also showed the dark side including intellectual theft, privacy violation, corporate scandals, and betrayal as it takes you through Mark’s struggle with conflicts over bad choices he made for himself. The climax incorporated the fact that as Mark got ahead of himself in business, he hurt his friends while doing so. The story ended happily and gives the viewer a new vision of Facebook and the years of work that went into it. Facebook was a major part of this average student’s life, however, it gives the viewer a new appreciation of everyday life, for things once considered mundane, and apprehension for hurting people close to you. Characterize Mark Zuckerberg and include/comment on the following (min. 250 words) ...
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