Facebook is a privately owned website and social network founded in 2004 by Harvard university students Mark Zuckerberg with his fellow students Eduardo Saverin, Dustin Moskovitz and Chris Hughes. It was operation in the limited area of Harvard in 2004 and become fully accessible in 2006. The main purpose for launching the website was bringing a connection between Harvard students, to know each other more and in better way but now the same purpose is being followed worldwide.

Product

• Facebook has launched number of products including friends, messages, games, groups, photos, links, videos, a marketing space, advertisements, products pages, uncountable applications and a lot more.

• Users can communicate so well with their far off friends by sending them virtual gifts according to the occasion for a minimum price of one dollar. This type of applications are visible on almost every user profile on the occasion like Christmas, Eid, Independence day celebrations, birthdays etc (Michelle, 2008).

• Facebook offers social plug-in, graph API, Social Channels, Authentications and the open graph protocols to the web developers.

• Proxy and private settings are provided to the users to settle up their profile availability along with the customization of the material being loaded up on their profiles.

• Users are now provided access to Facebook through their mobiles; this has rendered more clicks to Facebook by increasing the daily user percentage because of any time access.

• Facebook has provided an opportunity to Facebook users to register their complaints for the website access, while improving the services miles forward.

Price

• People that are lured into Facebook enjoys all services free of cost, while one controversial statement says that this is a virtual cost by means of  using personal information of users but this actually is not the case, as one can put as much secrecy and privacy one can.

• Facebook earns most of the revenues by the commercial groups, online events that are organized by the company, advertisements that come on the side of logged on page.

• Facebook being a private company doesn’t opens up its revenue earning units but always welcomes Brand advertising, performances advertising. Virtual goods and Microsoft advertising and has earned up to 1.1 billion dollars from this, according to a rough estimate (Dempsey, 2006).

Place

• Almost 600 million users are registered with Facebook, being accessed mostly by U.S community.

• The network is most popular nowadays as it can be accessed anywhere, in schools, colleges, universities and homes throughout the world.

• Facebook has its availability along the globe and Egypt revolution is commendably associated with the promotions provided by Facebook.

Promotion

• Facebook had become partner with Microsoft, Pandora and Yelp according to a planned strategy, and has earned a lot of promotion by taking this step, by increasing user number along with ads promotion on Facebook by different companies (Rosmarin, 2006).

• The website is providing small businesses big blow opportunities to establish and this promotes face usage as well, by their product customers being Facebook users ultimately.

References

• Rosmarin, Rachel (2006). "Open Facebook". Forbes.

• Dempsey, Laura (2006). "Facebook is the go-to Web site for students looking to hook up". Dayton Daily News.

• Michelle Sullivan (2008). "’Facebook Effect’ Mobilizes Youth Vote". CBSnews.com.

• Official Website.  http://www.facebook.com. Retrieved on February 4, 2011.

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