Facebook Marketing Mix (7Ps)

Product

Facebook was initially made for Harvard students only to help them communicate more efficiently. The initial viral effect of the software was indicated by the fact that more than half of the undergraduate population at Harvard registered on the service within the first month. Now, Facebook is the largest social network in the world with more than 2.45 billion monthly active users in 2020.

Being an online business, Facebook is widely known for social media services which are available especially for mobile apps. The basic Facebook products are: online social media, games, apps and advertising. And since Facebook started to manage and operate Instagram and WhatsApp, more people are attracted depending on their lifestyle and preferences. Therefore, the more social networking website is accessed by more users, the more display advertising service gains more traffic. In conclusion, Facebook`s Marketing Mix depends mostly on the number of users.

Each product category Facebook operates, is dedicated to a specific division of people. Facebook is for social networking and advertising, Messenger for instant messaging, Instagram is the most popular photo-sharing app, WhatsApp is for instant messaging services. Also, the company acquired Oculus VR, which is a virtual reality company business. The Facebook Products also include Facebook Business Tools, which are tools used by website owners and publishers, app developers, business partners (including advertisers) and their customers to support business services and exchange information with Facebook, such as social plugins ( the "Like" or "Share" button) and our SDKs and APIs.

Facebook and the rest of the apps owned by them reached top the most used social networking. If Facebook is on the third place after Google+ and YouTube, WhatsApp has no concurrence now. An important element of it`s success is mass customization in which a customer takes a more active role in product design. Also, researching customers’ needs and constantly developing appropriate products is another key of its success. Reaching the top, now they just must maintain their position with additional features and benefits beyond the previous ones.

A very important moment in Facebook`s expansion as a product, was when they bought Oculus, the virtual reality headset. Initially the price was very high and required a powerful computer, but the new version launched in 2018, Oculus Pro, is lighter, doesn’t need to be connected to a smartphone or a personal computer and the price is three time smaller than the previous version Oculus Rift.

An interesting Facebook launch is Facebook Blueprint Certification. Made for those who wants to stand themselves apart in digital marketing, the Blueprint Certification will boost their CV, credibility and career.

Boost with Facebook, it is part of Facebook Business and offers a lot of support for small businesses like: free quiz for personalized Facebook Tools to boost their business or for free personalized Advertise plan and free entry to Facebook Boost Events.

Image 1: In 16 years since Facebook was launched, the expansion of the business is impressive and in addition is taking over most of the powerful websites and apps. (Reuters.com 2018)

Image 2:: Overall Facebook Ad impressions increased 37% in 2019. According to Facebook CFO David Wehner, the spike in ad impressions is a result of ads on Facebook Stories, Instagram Stories and Facebook Newsfeed ads. Sproutsocial.com (2019)

Image 3: The impressive Facebook HQ has a rooftop park (green roof) measuring nine acres. The rooftop park has a garden, 400 trees, over 100,000 native plants, a giant swinging teepee, maps to help people know their location, and a half a mile walking and jogging loop among other things. Worldatlas.com (2018)

Image 4:To celebrate a billion people, Facebook launched a tv advert to honour the people they serve. "We honour the humanity of the people we serve. We honour the everyday things people have always made to bring us together: Chairs, doorbells, airplanes, bridges, games. These are all things that connect us. And now Facebook is a part of this tradition of things that connect us to". (Mark Zuckerberg, 2012)

Image 5:Facebook can be used on all devices: computers, phones, laptops and tablets. Is quickly becoming the world’s largest video platform after Youtube with millions of videos uploaded every day. (United Kingdom, 2020)

Image 6:The Facebook team is working hard to update and improve the app. For instance, in 2015 the CEO in an initiative to make the employees more aware of the bugs and problems in Facebook’s Android app, the company is forcing its employees to use Android phones. Independent.co.uk (2018)

Image 7: Enabling organizations and businesses to post in Community Help helped them to find new ways to reach communities impacted by crises and provide resources to help them recover. For example, they might post about helping people find everything from free transportation to supplies and connecting volunteers with organizations that need help. www.prnewswire.com (2018)