Facebook is one of the largest social networks in the world. The success of this product is determined by various factors. To understand these factors it is important to indicate its basic pros and cons. The overall strategy aimed at increasing strengths and limiting weaknesses also should be considered. For this end it is important to indicate the factors determining the competitive advantage, benefits and values for clients, environmental and social impact of the product.
The main strengths of Facebook may be defined as following. The user activity of Facebook is high enough. It means that the customers visit the site and download the apps frequently. They are devoted to this product. Facebook video traffic is rated the second after that of Google. The staffing system of Facebook is highly developed, that is why specific options and particular apps are permanently presented. There is increased demand for the product by numerous customers due to popularity of social networks and Internet in general. Facebook cooperates with more than 2000 other websites. The established system of partnership is growing. The highest quality of the services is guaranteed, customers are ensured to be always supported. Facebook keeps the interest of the audience by providing clients with different opportunities such as new ways to promote their business by targeting audience. Facebook pays attention to every single client focusing on his particular needs. That is why this product fulfills demand of big companies as well as common people. Many social projects were implemented by Facebook for instance huge campaign to prevent suicides. It supports a lot of green initiatives in context of environmental friendliness. Furthermore Facebook established different online competitions to provide the poorest children with opportunity to study in the best way. And last but not the least Facebook connects people from all over the world resolving many communicational problems, making people feeling involved to different groups and associations.
At the same time there are some weaknesses. The Facebook is virtual resource. It depends largely on the Internet system. The stability of this product is defined by the human resources and staff competence. As stability of such resources is rather vulnerable it causes some problems within social network. The substantial and rapid changes in the value of the company are possible. Facebook has a tight bond with the name of the founder, the Zuckerbergs creation is rarely considered independently of his person by mass-media. That may be an obstacle for further rebranding of the product. The impossibility of the objective assessment of the value of virtual resource may be considered as another weakness.
Focusing on indicated pros and cons the proposed strategy of Facebook is as following. It is necessary to use its main competitive advantage based on the audience and try to limit the vulnerability of virtual product assessment. For this end it is important to decrease the promotion cost for target audience in order to attract more users. The integration of the product in the daily life of customers in developing countries should be simplified. The proposal to avoid the problem of virtual reality is to launch the reading devices with Internet connection and Facebook logos. It is possible to cooperate with companies which already manufacture these devices such as Sony, Apple etc. This step will enhance the Facebook presence in real life to widen its influence offline. Such devices should be based on the Facebook design, providing opportunities for storing content of the account of the customer.
Reference list
Anon., 2011. New Partnership Between Facebook and the National Suicide Prevention Lifeline. [Online] Available at: https://www.facebook.com/notes/facebook-safety/new-partnership-between-facebook-and-the-national-suicide-prevention-lifeline/310287485658707/
Lynch, D., 2015. Facebook as the art of influence. LNL ed. London: s.n.
