Introduction Facebook Incorporated is a social media company based in the United States that founded Facebook in 2004 and later purchased Instagram and WhatsApp. These social media platforms are accessible in multiple countries through the internet and apps on cell phones and tablets. As of November 2016 Instagram has over 200 million users, Facebook has over 1.79 billion users, and WhatsApp has 500 million users (zephoria). None of the platforms charge a membership fee and are completely free to use. Facebook Incorporated makes a profit by charging third party companies for advertising to their users. In fiscal year 2015 the company had a revenue of 17,928 million (NASDAQ). Through these platforms a user is able to upload photos, videos, and message other users. Information including photos and videos from Instagram and WhatsApp are connected to an individual’s Facebook account. Facebook differentiates itself from the other two platforms by allowing a user to add information to their profile. This information includes: name, gender, birth date, email address, hometown, education, hobbies, interests, relationship status, sexual orientation, and current address. Facebook also utilizes a facial recognition system that can assist a user in tagging someone in a photo. All of the aforementioned user information is supposed to be protected and user controlled through a privacy agreement that one agrees to when signing up for a new account or when an updated agreement is released.
earnings, placing an extraordinary emphasis on short term profits to justify that valuation and the
So many users of the internet blindly browse and post on these sites without any thought to the online identity they are creating for themselves. Shares, tweets, hashtags, likes, and comments all combine to make up an amalgamation of marketable information. In November of 2016, an average of six thousand tweets were made per second, and ninety-five million Instagram posts were made per day (Sayce; Parker). Facebook “has become the largest database of personal information ever collected,” says Richard, and Facebook takes advantage of this. With almost two billion users, Facebook has no shortage of information to gather (Sparks). They do this mainly for targeted advertising. There is no small profit to be made in this. In 2011 Lori Andrews wrote, “Facebook made $3.2 billion in advertising revenue last year, 85% of it's total revenue.” However, Facebook and other internet corporations also relay data gathered on users to the
Appears that anywhere you look today you will find someone using social media. With advertisements and commercials even billboards Social Media appears to be anywhere you look. Social Media is such a big thing today, according to study provided by the website Socialnomics, individuals devote 700 billion minutes every month on Facebook (statisticbrain.com). Social Media has now become so much better for advertising that it is changing how business is done.
Facebook is a social networking site that is free of charge for its users. It allows the individual the opportunity to stay connected with friends and family, sharing updates, photographs and user status. The company grosses more than $1 billion per quarter in advertising revenue and online games (Ritholtz, 2014). In this respect, Facebook is much more that a social network. It is a versatile and sophisticated corporation that has revolutionized the way people share their lives and communicate. Their mission is “to give people the power to share and make the world more open and connected. People use Facebook to stay connected with friends and family, to discover what’s going on in the
Initially, Mark Zuckersburg , Dustin , Chris and Eduardo launched Facebook in Harvard in 2004 started with Facebook Wall. Facebook started with 1 million users from the Harvard , Yale , Stanford and Columbia university campus and then they concentrated to more university campus to growth for the company. The company then over the years have evolved design layout of Facebook and making more and more easy to use by concentrating overseas and local users and now they have 86% of total users are outside the USA and Canada. The company have launched Facebook video , Platform launches , Video calling , Facebook Search, Messenger , acquisition of Instagram and atlas and Whatsapp and Oculus and Facebook paper , trending in Facebook and many more. The key strategy of Facebook in past was to expand the social network and innovate new technology to make it more effective so that users can share and connect with people through Facebook. Also Facebook is concentrating in innovation starting with oculus - the virtual Reality. The increasing amount of data created by users and to maintain the data and finding the data patterns from the data is among the biggest challenges the company is facing. To provide the security to each account and help users to maintain their privacy is also a big challenges in today's world. Currently Facebook is on the top list of Social network services and they
Facebook is a well know social networking site that has taken all over the world with over 500 million people using the site. Social networking sites such as Facebook share information about the user over the Internet, where it can be freely accessed by anyone. This is where issues of privacy to the individual arise. As
We cannot deny how big of an impact social media has on our lives now, not only on people but businesses too. It has opened a whole new door to the business world and given them a big opportunity to interact and attract a larger amount of customers. It’s given us a new and faster way of communication by exchanging pictures, stories, news, blogs, online discussions, etc. In exchange businesses have benefited by a long shot just by the click of a button. With the help of the Internet a company no longer is dependent on a particular customer base to survive because now it can reach out to a worldwide audience within seconds. It’s imaginable the countless business attributes of all social media to this day and still is growing. Social media
First is the advertising. According to the case, we know that the major revenue of Facebook is advertising, which took up 98 percent in 2009, 95 percent in 2010 and 85 percent in 2011. Facebook uses all information uploaded by users to become the property of the firm. By analyzing database, Facebook provides advertisers target customized services and products based on users’ preferences and connections. In its view, the advertising which based on social
Facebook has an array of information assets that it owns by collecting information on its users.
Facebook is a social networking website that enables and allows the users to share information online. Individuals create accounts at
Facebook is estimated to have over 845 million users, mostly college-aged young adults. Its explosive growth and reputation in social networking have made it not only a market leader, but also a household brand name. The audience is global (excluding China) and the site has now been translated into 70 different languages.
Facebook is involved in a serious controversy in the United States. And last but not least they are being accused of nothing less than ideologically manipulate the news that serves its users , all this is happening on the campaign trail, so the whole thing takes on an even greater dimension that already itself has.
The marketing industry is an elaborate network that links companies to their consumers, primarily through written communication. The main objective of marketing is to identify trends and patterns in consumer behavior, and utilize the data to influence consumers to purchase more goods. From a macroenviroment standpoint, the general conditions of a market are heavily dependent on global environmental factors. The most significant factor that influences the markets today is technological advancements. Since the release of Facebook, Linked-in, Twitter, and Myspace in the early 2000s, the number of people using social media has increased to over sixty-five percent. The ever-growing dependency on social media platforms, has given marketers the tremendous opportunity to further market potential consumers. Social media marketing is a specific form of marketing that focuses on producing ad content that social media users will post on their own networks. This particular marketing technique is effective because ads and content are created, based on what personal information users post on social media. Firms and organizations that advertise their brands on social media are more likely to increase their customer base and annual revenue. By doing so, companies are able to increase exposure of their brand and widen previous hidden, customer bases. As a marketer, the fine line between right and wrong is often blurred. The amount and
According to Forbes, there are about 1 billion social media accounts all over the world, these accounts makes almost all of the countries of the world connected with each other.Social media is a very common in today’s modern world, social media is considered to be one of humanity’s greatest achievements and accomplishments. Never before humans were connected to each other as in today’s world. and almost everybody has a Facebook account, there are about 500 million Facebook accounts. Facebook allow its users to chat with each other, to see each other’s pictures, and to comment on any post. Which is very useful in the business and marketing world.
Facebook is the most powerful social media Network which connects people in no time no matter where they are be in the world. It’s accessible from any place at any time without any cost.