Marketing Essay Example | Topics and Well Written Essays - 750 words - 4

Marketing - Essay Example Question # 1- Target Market Initially facebook has its membership restrained to college students only so the target market covered only the youngster till 2006 after which it was opened for all after two years in 2006. The users comprising the target market fell under the psychographic segmentation. The target market includes those youngsters who wish to keep connected with their folks and friends all over the world. Their attributes relating to values, attitudes, interests, personality, or lifestyles matter to them. Facebook new exciting offers target markets users who want to download everything they have posted from Fb to computers. Any sort of information would definitely be updated at personal computer including social status, profile, wall post etc. Whereas the dashboard helps provide more flexibility for users wishing to control better their applications. The new grouping feature targets those groups who wish to share comments, pictures and other links with acquaintances based on ones relationships and interests. For instance, one can now group Facebook friends by college, family, work, sports teams. Question # 2 - Facebook Competitors Facebook has already achieved competitive edge as social networking sites. It does not have strong competitors. ... Tumblr It provides blogging platform with many kids sharing content with each others however, still the tumbir cannot surpass the area coverage by facebook. Twitter It is a micro blogging platform with features of Facebook except 140 assymetric follow patterns and character messages which is a new feature however, this is not such a big threat to Facebook. LinkedIn This is specifically for the business gentry and is therefore covers only certain individuals while Facebook is for everyone else. Path Path works against the principle of Facebook as it talks about smaller groups of friends. Path let you share pictures and information with close circle of friend. Still social networks matter today so facebook still out do. Question # 3 – Product’s Position Facebook is the world's largest social networking online web. On average there are 700 billions minutes spent in a month by facebook current users. The company has been increasing at a meteoric pace, doubling size since af ter 2009 and pushing competitors like Orkut and Twitter aside. Through it is social networking world wide still it has wider customer acceptance due to set define standards of privacy like no other websites provide. There are defined privacy laws governing facebook actions due to which at times it has even been sued. But, so far it has the greater sale’s popularity with over 500 million users in the year 2010. The largest social network worldwide has been rapidly increasing its membership at a steady pace for over the so many years gone by, however even Facebook is almost touching saturation level for several of its age demographics. The good news that remains for Facebook is that it has still future potential to increase and retain its market share. E Marketer statistics