Facebook Is A Source Of Facebook

1862 Words May 6th, 2015 8 Pages
Facebook was established by Mark Zuckerberg while he studied psychology at Harvard University. It was launched in 2004 and in 24 hours, 1,200 Harvard students had joined, and the numbers continued to increase as time passed.
Facebook enables registered users to create profiles to share ideas, opinions, pictures, videos and activities as well as communicate and discover others. Facebook users can stay in contact with their friends, family and public figures, whereas marketers have the opportunity to get closer to the consumer by having access the registered users. Additionally, users may join common-interest user groups, organized by workplaces, schools, and categorize their friends into lists such as "People from Work" or "Close Friends".
Facebook’s products consist of Facebook mobile app and Website, a mobile-to-mobile messaging application available on Android, iOS, and Windows phone devices; Instagram, an application that enable people to take photos or videos and share with followers in a photo feed.
Advertising is a source of Facebook’s revenue as well as users’ purchase of virtual and digital goods from developers.
Porters 5 forces
The bargaining power of suppliers- Facebook suppliers comprise of web hosting services and third party service providers. Many suppliers offer these services to Facebook. Therefore, the threat from suppliers is debatabely low.
The bargaining power of buyers- Facebook buyers include all Facebook users. Facebook has approximately 1.4 billion…

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