Introduction
Facebook originated from the idea of Facesmash in Harvard university by Mark Zuckerberg with assistance of his room mate Eduard Saverin both computer science students, hacked into their school‘s network, using a website they had created in their dormitory to rate people’s attractiveness.
Mark Zuckerberg’s developed a number of social networking website for his fellow students called Coursematch that allowed users to view and check the courses friends were studying and know their relationship status within Harvard campus. Facebook was created to relive the whole college experience online.
The four Ps of marketing also called the marketing mix are a set of tools used to gain an advantage in the marketplace. The four Ps are a combination product, price, place and promotion.
Product
A product is anything that can be offered to a market that might satisfy a want or need. Facebook is a free social networking website. It is electronic products were users can discover and consume information about what is going on around them. The features of the of the e-product Facebook;
§ Ease of use and access.
§ It is an interactive platform where people with email address can create a personal profile of their selves and share with friend. One can upload over 200-photos or without limit on Facebook profiled albums.
§ A site where one can meet friends or old friends to share live and even arrange for date
§ Users have control of their profile, they get to choose and find new friends, decide when to unfriend (spam control)
§ Users of Facebook can video call their friends where ever they may be.
§ Members can share email on this network can also chat with friends.
§ Users are given notification or reminders of friend birthdays every day.
§ Users can give gifts to friends on this platform
§ Users can post free notices and also develop their own applications.
§ One is able to poke friend and be poked
Price
The price is the amount a customer pays for the product or service
· Use of Facebook is relatively inexpensive.
· Users of Facebook do not pay for monthly subscription or any fees at all, members need to be able to pay for their own internet connection
Place
Place represents the location where a product can be purchased. It is often referred to as the distribution channel. It includes any physical store as well as virtual store (like Facebook) on the Internet.
· Death of distance; geographic location is not a restriction. Facebook users can access the website at any location.
· Time compression; time is not a factor as Facebook is available 24/7 online.
· Facebook uses the internet platform
· Users can connect fully on mobile handsets and accessing, sharing and discovering whilst on the go.
Promotion
Promotion represents all of the communications that a marketer may use in the marketplace.
· Facebook expanded from Harvard College to virtually every college, home or town through word-of-mouth advertising/recommendations by friend. Users invited friend and the cycle keeps going. Facebook uses below the line promotional activities
· Video post on Facebook more engaging than outside sites, users can click like or unlike giving quality feedback for to profile owners.( direct response media)
