This paper presents a comprehensive marketing strategy for Facebook, covering the period from 2013 to 2016. It begins by analyzing the company's current situation, including a revision of its mission statement, a brief historical overview, and an in-depth examination of its revenue cycle and target audience. Using Porter’s Five Forces model, the paper evaluates Facebook’s competitive landscape. The second part outlines the way forward, detailing marketing plan objectives, market research methodologies, and a thorough breakdown of the marketing mix, including product, pricing, place, and promotional strategies both online and offline. Additionally, it provides a timeline, contingency plan, and budget allocation. This strategy aims to maximize Facebook's global reach, enhance user engagement, and drive sustained revenue growth, positioning it as the dominant player in the social networking industry.
Inhaltsverzeichnis (Table of Contents)
- PART 1 | CURRENT SITUATION
- 1.1 Modification to the Mission Statement
- 1.2 A Brief Historical Overview
- 1.3 The Revenue Cycle and Facebook's Target Audience
- 1.4 Application of Porter's 5 Forces Model
- PART 2 | THE WAY FORWARD
- 2.1 Marketing Plan Objectives
- 2.2 Market Research
- 2.2.1 Primary Data
- 2.2.2 Secondary Data
- 2.3 Marketing Mix
- 2.3.1 Product & Pricing
- 2.3.2 Place
- 2.3.3 Offline and Online Promotions
- 2.4 Timeline & Contingency Plan
- 2.5 Budget
- REFERENCES
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
The objective of this marketing strategy is to leverage Facebook's popularity to develop a comprehensive marketing plan for the period 2013-2016. The plan aims to define objectives, conduct market research, outline a marketing mix, and detail a timeline and budget. It also seeks to analyze Facebook's current position and propose strategies for future growth.
- Analysis of Facebook's current market position and competitive landscape.
- Development of a comprehensive marketing plan for the next three years.
- Identification of key target audiences and their needs.
- Creation of a marketing mix strategy encompassing product, pricing, place, and promotion.
- Development of a detailed budget and timeline for implementation.
Zusammenfassung der Kapitel (Chapter Summaries)
PART 1 | CURRENT SITUATION: This section provides a foundational analysis of Facebook's current state. It begins by modifying Facebook's mission statement, expanding on its core purpose. A historical overview utilizes the Boston Consulting Group (BCG) matrix to illustrate Facebook's evolution through different market stages, highlighting its journey from a niche social network to a dominant player. This analysis showcases Facebook's strategic shifts and adaptation to market dynamics. The section concludes by examining Facebook's revenue cycle and target audience, emphasizing the importance of customer satisfaction and long-term user retention. The discussion incorporates external perspectives, such as the insights of CNN contributor David Frum, to underscore the need for enhanced customer service and security.
PART 2 | THE WAY FORWARD: This part outlines a detailed marketing plan for Facebook's future. It begins by defining the plan's objectives, providing a clear direction for subsequent strategies. The core of this section involves market research, dividing the data collected into primary and secondary sources, which informs the marketing mix strategy. This strategy is broken down into components addressing product and pricing, distribution (place), and promotion both online and offline. The plan culminates in a comprehensive timeline, incorporating contingency plans for potential challenges, and a detailed budget allocation for effective implementation.
Schlüsselwörter (Keywords)
Facebook, marketing strategy, social network, market research, marketing mix, BCG matrix, revenue cycle, target audience, customer satisfaction, online advertising, mobile, app developers, market growth, competitive analysis, strategic planning, budget, timeline.
Häufig gestellte Fragen
What is the document about?
This document is a language preview of a comprehensive marketing plan for Facebook, outlining its structure, objectives, key themes, chapter summaries, and keywords.
What does the Table of Contents include?
The Table of Contents is divided into two main parts: "CURRENT SITUATION" and "THE WAY FORWARD." The "CURRENT SITUATION" section includes topics like the mission statement, historical overview, revenue cycle, target audience, and Porter's 5 Forces model. The "THE WAY FORWARD" section covers marketing plan objectives, market research (primary and secondary data), marketing mix (product & pricing, place, promotions), timeline & contingency plan, and budget.
What are the main objectives and key themes of the marketing strategy?
The main objective is to leverage Facebook's popularity to develop a comprehensive marketing plan for 2013-2016. Key themes include analyzing Facebook's market position, developing a marketing plan, identifying target audiences, creating a marketing mix strategy, and developing a detailed budget and timeline.
Can you describe the Chapter Summaries?
"PART 1 | CURRENT SITUATION" analyzes Facebook's current state, including modifying the mission statement, providing a historical overview using the BCG matrix, and examining the revenue cycle and target audience. "PART 2 | THE WAY FORWARD" outlines a detailed marketing plan, defining objectives, conducting market research, outlining the marketing mix, and detailing a timeline and budget.
What are the key words associated with this document?
The key words include: Facebook, marketing strategy, social network, market research, marketing mix, BCG matrix, revenue cycle, target audience, customer satisfaction, online advertising, mobile, app developers, market growth, competitive analysis, strategic planning, budget, timeline.
What is the purpose of modifying the mission statement in the plan?
Modifying the mission statement aims to expand on Facebook's core purpose and better reflect its evolving role in the social media landscape.
How does the BCG matrix relate to the historical overview of Facebook?
The BCG matrix is used to illustrate Facebook's evolution through different market stages, highlighting its journey from a niche social network to a dominant player, and showcasing its strategic shifts and adaptation to market dynamics.
Why is customer satisfaction emphasized in the analysis of Facebook's revenue cycle and target audience?
Customer satisfaction is emphasized because it's crucial for long-term user retention and, consequently, for maintaining and growing Facebook's revenue streams. The document references concerns about customer service and security as areas needing improvement.
What does the marketing mix strategy in "THE WAY FORWARD" encompass?
The marketing mix strategy includes considerations for product and pricing, distribution (place), and promotion, covering both online and offline channels.
What does the timeline & contingency plan entail?
The timeline provides a schedule for implementing the marketing plan, while the contingency plan addresses potential challenges that may arise during implementation and outlines strategies to mitigate them.
- Quote paper
- Luca Bugelli (Author), 2013, Facebook Marketing Strategy (2013-2016). Leveraging the World’s Leading Social Network for Growth and Revenue, Munich, GRIN Verlag, https://www.grin.com/document/1514825
