![]() Students will thus be compelled to open accounts. With the cooperation and support from the colleges, the company was able to bring in new users, for instance, by advising freshmen to check the school Facebook groups (Helvie-Mason 2011). The company would provide organizational services, which included class registration, promotion of clubs and activities. The company set a target to market itself to college administrators (Sarachan, & Reinson 2011). Previously, college administrators had a negative opinion about Facebook and saw it as a nuisance. This strategy was implemented by enhancing direct collaboration with colleges. The company embarked on a charm offensive and managed to lure as many campus students as there were. As such, to keep stable in this industry, Facebook must adopt an appropriate business strategy (Champoux, Durgee & McGlynn 2012).Īt its start, Facebook’s strategy was aimed at getting as many users as possible, especially in the U.S and Canada. Although the micro blogging site uses a different technology, it could very well compete with Facebook for advertisements. Another factor is the rise in the use of Twitter. The Facebook shares have performed dismally going below by as much as 40% since. The company also introduced its IPO in May. There has been a big exit from Facebook especially in the U.S, Canada, and European markets. Although there is yet to be developed a technology that will directly kick Facebook out of business, several factors threaten the company’s stability. The last stage is usually the decline stage where sales and profits decrease. It has become the norm for everyone to have an account on Facebook, which means growth stage has been passed. In this stage, there are stable prices and profits. The third stage is the maturity cycle where Facebook currently is. In this stage, the product expands into new markets because the product has been accepted. The product, if successful, proceeds to the growth stage. In the introductory stage, which is the first one, growth is stagnant, and profits are minimal as the product is on trial. There are four different developmental stages in a product’s lifestyle. ![]() Despite all this, the company may well be nearing the end of its product life cycle. ![]()
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