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).
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.
Place
• Almost 600 million users are registered with Facebook, being accessed mostly by U.S community.
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). Click here to Read People, Process, Physical Evidence