Branding - Facebook Development Opportunities Assignment

Branding - Facebook Development Opportunities - Assignment Example This is mainly because; the craze of online media is increasing at a rapid pace as compared to others. Among many other social networking sites, face-book is one of the most renowned and prominent site. It helps in attracting a large array of customers towards the brand thereby presenting various feedback, comments and likes. As a result, an entrepreneur or marketer attains the facility of obtaining numerous customers from a single site thereby amplifying the profitability and brand image of the product among others. Other than this, the amount of investment over promotion or advertisement also gets reduced to a certain extent, which is quite worthy for an organization. And so, the level of revenues and profit margin of the brand also gets enhanced to a significant extent thereby amplifying its dominance in the market. This is the prime reason for which, maximum extent of the marketers or entrepreneurs in today’s age desire to select online networking site Facebook for the pro motion of their products or services. The report is presented in two parts. The first part depicts the strengths and challenges faced by the social networking site, face-book in this globe among others. Along with this, it also includes the threats and weakness faced by the site, due to extreme bargaining power of the buyers and extensive rivalry among the existing parties. On the other hand, the second part resembles the planning part of the networking site, face-book. This part mainly reveals the need for repositioning of the site in the global market among other contending site. Part A- Report Overview of Face-book In order to cope up with the challenges of economic meltdown, promotion or advertisement is the most essential requirement. This is because, by promoting the effectiveness or features of a product or service, large array of customers might be attracted towards the brand. As a result of it, the demand and profit margin of the product might get enhanced thereby amplifying the reputation in the entre segment a mong others. However, this might be possible only with the help of a social networking site, face-book. It is recognised as the most essential and reputed site used for promotion of the products or services in this competitive age. As, maximum extent of the individual desire to visit this site for attaining valuable information and ideas, that might prove effective in future. So, if a single product is promoted in this site, huge traffic might be attracted within a very small time –frame as compared to any other advertisement media. Such a prominent invention came into limelight due to the extensive efforts of Mark Zuckerberg and Dustin Moskovitz, Chris Hughes, Eduardo Saverin in the year 2004. Within next one year i.e. by the end of 2005, Facebook attained a user base of 1 million. And so, it became one of the prominent sites for the marketers to promote their products or services. By doing so, the demand and brand value of the product or services might also be enhanced to a significant extent among others such as bing, Google +, yahoo, rediff etc. So, the importance and efficiency of face-book enhanced to a significant extent as compared to others. Macro environmental Analysis of Face-book PEST analysis is recognised as