Facebook

Gazzi Hussain

Prof. Rice

MKTG 1010 Marketing Strategy- Assignment #1

The Facebook Boom

Facebook’s competitive advantage is dependent on how well they adapt to their ever-growing swarm of competitors. The most intense competition comes from Twitter, which has hundreds of users joining daily. Myspace and LinkedIn are also competing; however they have a less significant amount of users signing up. In order for Facebook to sustain its competitive advantage, it needs to satisfy its users, provide stronger security on users’ profiles, and add more features to both PC and mobile platforms. In addition to this, they also should honor or thank their loyal users who have been with them for a significant amount of years.

As of the second quarter of 2015, Facebook has almost 1.25 billion active users. This is greatly surpasses the number of users of Twitter, Myspace and LinkedIn combined. For the money-minded, the availability of such a vast audience translates into marketing opportunities. Consumers can access Facebook through personal computers, smartphones, iPad and other devices. Facebook has been quick to accommodate all new and popular technology to sustain its competitive advantage. This quick adaptation is the reason why Facebook has been the top social media platform for the past several years. Its recent venture of purchasing WhatsApp and the Oculus Rift, as well as many other games, supports the notion that Facebook is not just a form social media, but also strives to sustain its competitive advantage.

Facebook’s mission statement is a simple but effective in its execution and implementation. To quote their website “Founded in 2004, Facebook’s 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 world, and to share and express what matters to them” (https://www.facebook.com/facebook/info?tab=page_info). Facebook stays true to...