What started as a young Harvard college students project to create a social network connecting just college students has now become one of the largest privately owned companies in the world. Facebook now holds roughly 500 million active users around the world which is about one in every fourteen people. How has this successful, social media network changed the way many of us communicate today? I for one know that I at least check my facebook account multiple times a day and often find myself communicating with my friends and family through wall posts and messages ( all functions of Facebook.com) more often than through my cell phone. Is it possible that this great expansion of social network users will eventually influence people around the world to communicate primarily with networks such as facebook rather than using a cell phone as a primary medium of communication? I do believe that the development of these social networks on cell phones through smart phone apps could possibly influence the way we communicate in the future in favor of social network sites. This is because the only reason that I could possibly prefer talking to my friends would be through texting because i could take my cell phone anywhere with me and it is far more convenient then going from computer to computer. However if social media networks find a way to dominate mobile communication devices, websites such as Facebook could potentially take over industries such as the cellular phone industry and change the way we communicate today. The success of Facebook would certainly suggest the strong possibility that social media networks become the primary medium for communication in the future.
1. Product: Cell Phones, Mobile devices
2. Technology: Social media networks, computers
3. Industry : Facebook, Verizon Wireless
4. Money: Facebook is free for users to join, advertisers pay facebook for any ads featured on the website.
5. Law and Gov. : There are no issues of law infringement, however there are cases where Facebook Inc. has been charged with invasion of privacy. These charges were dropped.
6. Audiences: Facebook users and those who primarily communicate through texting are generally in the same target segment for Facebook inc. and Verizon. That specific audience consists mainly of young adults or college students.