Facebook Marketing Strategy – Meta Platforms Inc.: Facebook was created in the year 2004 by Mark Zuckerberg and their team to connect, interact with individuals, and share their moments. It has helped people know what was happening in other parts of the world on a real daily basis. Facebook has more than one billion active users per day (DAU).
It has also acquired other well-known social media sites like Instagram, WhatsApp, Oculus in the past to expand its reach across different categories and platforms.
Facebook At A Glance – Marketing Strategy of Facebook
Company : Meta Platforms Inc.
CEO: Mark Zuckerberg
Founder: Mark Zuckerberg | Eduardo Saverin | Dustin Moskovitz | Andrew McCollum | Chris Hughes
Year founded: February 2004, Cambridge, Massachusetts, United States
Headquarters: Menlo Park, California, United States
Annual Revenue: $73.4 billion
Profit | Net income: $21 billion
Number of employees : 60,654
Products & Services: Social Media Platform | News Feed | Watch | Marketplace | Stories | Messenger | Lasso | Instagram | WhatsApp | Oculus – Virtual Reality Device | Workplace – Business Tool | Portal – Video Calling Device | Calibra – Electronic Payment System | Facebook Dating
Competitors: Social Media & Messaging – Tencent (WeChat) | Twitter | Pinterest | Snapchat | Bytedance | Vkontakte | LinkedIn | Microsoft
Facebook Fun Facts: The color blue used by Facebook was chosen as it’s the color Mark Zuckerberg can see most easily due to his color blindness due to red and green?
Marketing Strategy of Facebook
Facebook’s Marketing Strategy covers various aspects of the business right from segmentation and targeting to the overall mission and vision of the company and the various parameters which the company executes to become the top brand that it has in the market. So what is the Marketing Strategy of Facebook? Let us discuss.
Segmentation, Targeting, Positioning – Facebook Marketing Strategy
Facebook makes use of a mix of demographic, geographic, and psychographic segmentation variables to determine the user’s preferences and then engage users accordingly so that they can earn money.
Because the audience on Facebook is vast, by applying a differentiated targeting strategy Facebook ensures that it delivers algorithmically-specific advertisements targeted at the exact user based on how they manage their accounts.
It utilizes a values-based position approach as well as believes in engaging people so that they be more active and connected to others.
Facebook Mission Statement
“To make the world more open & connected and give power to the people to stay connected”
Facebook Vision Statement
“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.”
“Facebook helps you connect and share with the people in your life.”
Competitive Advantage – Facebook Marketing Strategy
The primary advantage that Facebook has is its reach and method it’s engaged various communities across the globe to create a more transparent world and more transparent. It also allows people to share what’s on their heads.
Wide product or service portfolio The broad portfolio of products and services Facebook has a range of platforms that are designed to cater to different segments of users and could be beneficial for different reasons. Facebook is a platform that allows users to share content with friends and followers. Facebook is an application that users can update their photos/ activities, and interact with their preferred people, brands, and icons. Instagram is a platform on which users can post edited images and videos with their friends or followers.
On the other hand, the Whats app is the most well-known messenger app that allows everyone to communicate with others and is the most efficient in communicating.
BCG Matrix – Facebook Marketing Strategy
All of the services and products provided from Facebook all products and services offered by Facebook are Stars within the BCG matrix because the attention that each one has gained since its creation is obvious. The social media platform Facebook owns an overwhelming market however, it also faces competitors via Twitter and LinkedIn. This market is still growing at a positive growth rate, however, it is currently being restricted by access to the Internet around the globe. Instagram is facing a challenge from Snapchat. However, Whatsapp is the clear leading player in the chat space due to its huge reach throughout the world.
Distribution Strategy – Facebook Marketing Strategy
Facebook utilizes the online channel to deliver its services. It is constantly reorienting and changing the platform regularly to effectively engage users and enhance their overall experience every time they use the various services provided by Facebook.
Brand equity – Facebook Marketing Strategy
The reputation and popularity that Facebook can carry are higher than other businesses that compete with it. Facebook is a brand with high reviews and has a high TOMA (top in mind awareness) in comparison to competitors’ offerings. Its brand value Facebook stands at $52.6 billion in the year 2016. It is not surprising that this represents a growth of 44% from the valuation of Facebook in 2015. This shows that Facebook’s Brand has grown extremely quickly.
Competitive Analysis – Facebook Marketing Strategy
It faces competition in each of the segments of the business it is present in whether a competitor is a company that is sharing information or the company which is collecting information, in each way it is going to affect the marketers who are the main source of revenue for the Facebook.
In some of the geographic locations due to several factors such as government regulations or the work culture, community ideologies are the main challenges that Facebook faces.
Market Analysis – Facebook Marketing Strategy
Facebook is a market player which is competitive and innovative and perishing is the main way for companies to stay afloat. Numerous companies in the field of networking like Skype Zomato, Snapchat, and others remain in a state of struggle and struggling technologically to become an innovative and disruptive player in the market.
Customer Analysis – Facebook Marketing Strategy
Users of Facebook are people from different communities/locations and businesses who wish to get connected and engage in an open and inclusive world. They are the people and businesses who use these platforms Facebook and Instagram Instagram and WhatsApp to share with others who they are and what they stand for.
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