PREMIER UNIVERSITY

ASSIGMENT

Topic: Managing Digital Communication: Online, Social Media And Mobile – “FACEBOOK”

Course Title: Marketing Management

Submitted to:
Submitted By:

  

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 Managing Digital Communications:
Online, Social media and Mobile
‘Facebook’
Facebook’s uniqueness in the world of ‘Personal
Marketing’:
With its supercomputing data and algorithmic capabilities, Facebook
can pinpoint an exact targeting segment of the population with all of its
attributes, such as gender, age, income, demographics, preferences, and
so on, for use by a company or group. It can even determine which of our
friends is likely to share our tastes.

Facebook’s Strength:
The power of Facebook is such that it
can spark an international uprising
like the Arab Spring, a movement like
Black Lives Matter (BLM), or even be
bought or manipulated in an election by a third-party company like
Cambridge Analytic. It can also be used by terrorist groups and official
governments like Laos to spread fake news.

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Facebook’s Enormous Competitors:
In the case of Facebook, I believe its most significant competition is
Weibo from China, followed by LinkedIn from Microsoft, Twitter from
the United States, and Tiktok from Byte dance China. People are
maturing, and communication is becoming so much faster and more
democratized by every new media source out there that people are
becoming overwhelmed by having too much data. People in the future
will go back to crave privacy, they will choose to decentralize everything.
Millennials are slowly signing out of FB and Twitter because that’s
where their parent hang out most of the time and also they are getting a
lesser attention span, they would prefer a close community and a simple
quick editable app like Tiktok or Instagram to remain social.

Advantage of Facebook pages for Business:

With its ability to pinpoint targeted audiences and customize different
segmentation at a very low cost, any small local
company can compete with big international
brands, and big brands will be able to be more
creative with their leftover budgets to touch
communities and appeal to their causes, this is
capitalism at its best.
Facebook is the most cost-effective advertising investment any business
can make. The benefits of Facebook advertising are endless.
1. One can double, triple, or quadruple their business growth with
Facebook advertising.
2. It is cheaper than almost every alternative source of advertising.

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 3. The targeting options are more precise than the rest. You can
target previous customers, website visitors, and specific
demographics.
4. One can increase your touchpoints with your audience, ramp up
awareness, and attribute to conversions in the future.
5. If one is bringing a new product or service to market, one can use
Facebook advertising to increase its exposure.
6. Facebook advertising is so cheap, one can cut out some of the other
expensive advertising campaigns they are invested in
7. Facebook advertising increases brand awareness. It is a great way
to make people aware of what one has to offer.

Risk Factors:
I believe this is the greatest problem that Facebook faces in the near
future. People will return to a desire for privacy in the future, opting to
decentralize everything. Millennials are slowly signing out of FB and
Twitter because that’s where their parents hangout most of the time and
also they are getting a lesser attention span, they would prefer a close
community and a simple quick editable app like Tiktok or Instagram to
remain social.

Drawback of Businesses for not being on Facebook:

For companies that are not in FB I think they are missing a great
opportunity to brand themselves but if they are willing to experiment
with other social media, it think they still have the chance to compete and
appeal especially to younger generations. By using exclusivity and rarity,
a company can position itself as a limited offer or event. Millennials
usually have this great sense of fear of missing out (FOMO), by appealing
to this psychology, I think a company that is not on FB can still do
something great.

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THANK YOU

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