Facebook Strategic Plan Despite the prior success and longevity of a company, determining the right strategy to implement substantial leadership, ethical, and social global skills will create a dynamic plan of attack for future strategic plans to be implemented. Through an analysis of the six paths to creating blue oceans as they pertain to Facebook, determining what could be done to appeal to consumers outside of the Facebook target market will be illustrated. The six paths analysis and illustration of consumer appeal will allow a new strategic plan to be created and implemented which will consist of a new strategy canvas to be created, as well.
Six Paths of Blue Ocean Strategy
Kim and Mauborgne (2005) offer six paths to finding blue ocean
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There is no charge to use Facebook, so buyer groups are any individual old enough to access the company’s system. Businesses are also a buyer group if they use Facebook as a marketing tool. To find a blue ocean with buyer groups, Facebook needs to identify new users of their service that are unaware of the utility it provides. If they could identify and convince influencers to drive new users to them, their strategy would be even more effective. Facebook’s alternative buyers are the companies that purchase advertising within Facebook as well as game developers that build unique games that work within the platform that is currently used by Facebook. Facebook’s partnerships with mobile games give users extras if they like the game’s Facebook page. With Facebook’s data collection practices, they become even more attractive to advertisers then …show more content…
Facebook is a service that is both functional and emotional. It provides a gateway for easy communication with virtually anyone in the world as well as file transfers between participants with few demands on the user’s time. It also offers the creation of a personal or business webpage for the user to display facts about themselves. On an emotional level, Facebook provides interactions with friends and family. Additionally, a user can designate a family member or friend to be your Facebook estate executor and keep the account going long after the user has died (Leger, 2015). This hits at the core of emotion and allows for a loved one to have a sort of electronic memorial. If Facebook could pull the functional and emotional levers in a way that differentiates them from the rest of the social media industry, they would discover a blue