Facebook was founded in 2004 by Mark Zuckerberg and originally for Harvard students. It later expanded to other colleges and those over 18, and now 13+. Facebook's mission is to connect people and make the world more open. Key features include News Feed, Wall, Photos, Videos, Notes, Gifts, Status, and Events. Facebook is free to use and makes money through advertisements. It can be accessed on devices worldwide through its websites and mobile apps. Facebook has over 2 billion monthly users and 44,000 employees. The process to create a business page involves first making a personal page and then a business page.
Facebook was founded in 2004 by Mark Zuckerberg and originally for Harvard students. It later expanded to other colleges and those over 18, and now 13+. Facebook's mission is to connect people and make the world more open. Key features include News Feed, Wall, Photos, Videos, Notes, Gifts, Status, and Events. Facebook is free to use and makes money through advertisements. It can be accessed on devices worldwide through its websites and mobile apps. Facebook has over 2 billion monthly users and 44,000 employees. The process to create a business page involves first making a personal page and then a business page.
Facebook was founded in 2004 by Mark Zuckerberg and originally for Harvard students. It later expanded to other colleges and those over 18, and now 13+. Facebook's mission is to connect people and make the world more open. Key features include News Feed, Wall, Photos, Videos, Notes, Gifts, Status, and Events. Facebook is free to use and makes money through advertisements. It can be accessed on devices worldwide through its websites and mobile apps. Facebook has over 2 billion monthly users and 44,000 employees. The process to create a business page involves first making a personal page and then a business page.
BBA (H) Sem 4- B Introduction • Facebook was founded in 2004 by Harvard student Mark E. Zuckerberg with help from his roommates Dustin Moskovitz and Chris Hughes. • Facebook was originally for Harvard students then expanded to other colleges then to anyone over the age of 18, and now currently to anyone 13 years of age or older. • Company Overview: “ Facebook’s mission is to give people the power to share and make the world more open and connected. “ Characteristics • News Feed • Wall • Photos • Videos • Notes • Gifts • Status • Events MARKETING MIX Product • It goes without saying that Facebook is in service industry, and as a service it is a brand name itself. • The main products of Facebook are Facebook itself, Instagram, Messenger, WhatsApp, and Oculus. Messenger and WhatsApp are instant messaging services, while Oculus is a virtual reality technology business. Both Facebook and Instagram are social networking services. Price • Opening both a personal account and a business account on Facebook is free. • The main source of Facebook revenue is advertisement. • Advertisers have different options to choose to advertise through Facebook. For instance, a post or a page can be promoted with as little as $2.00. • If someone decides to advertise on Facebook on the basis of CPC (cost per click), the average cost per click would be around $0.27. If CPM (cost per thousand impressions) is chosen, then the average CPM cost is approximately $7.19 Place • It is now available virtually everywhere in the world. • Users can access their Facebook accounts from devices such as computers, tablets, and smart-phones with the Internet connectivity. • Social networking service of Facebook is available on mobile apps and on its websites such as Facebook and Instagram. • Advertisers can use these websites for their advertising campaigns. Promotion • While Facebook is a tech company, it has used word of mouth (one of the oldest methods of promotion) very effectively. • In addition to word of mouth, Facebook also uses many other methods of promotion. For instance, it directly recommends advertising campaigns to Facebook business page owners. • It also uses TV, billboards, newspapers, and many other traditional methods of advertising in some countries to take its name to its target audience. People • The social network had 44,942 full-time employees as of December 2019, up from just 150 people in 2006. • Facebook has 2.27 billion monthly active users as of October 2018. • March 2019, Instagram has 1.1 billion active monthly users. Interestingly, 500 million out of 1.1 billion users use Instagram everyday. Process • Process usually refers to a set of actions sequentially conducted in order to achieve something. Different business functions may have different processes. • the process of creating business pages with Facebook is that the users must sign up and create a personal page first and then they can create a business page. Physical Evidence • Physical evidence usually refers to everything customers see when interacting with a business. Though the physical evidence is very limited for a website, it can be said that the Facebook website looks nice and has a number of features to engage users well and provide them with very good experience. • Facebook has offices and data centres around the world, which have state of the art facilities and have a friendly and fresh ambience to the workplace.