5 C's of Marketing: Facebook

Largest Social Network Site In The World

"Facebook was not originally created to be a company. It was built to accomplish a social mission - to make the world more open and connected." - Mark Zuckerberg

Happy Tuesday! The big news is outage at Facebook. Let's examine the 5 C's of Marketing and how it applies to Facebook (and your business too :))

The 5 C's of Marketing
1. Customers 2. Collaborators 3. Company 4. Competition 5. Context

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Facebook 5 C's of Marketing

1. Customers

What customer need does the company aim to fulfill? Who are the customers with this need?

Created in 2004 in his Harvard dorm room, Mark Zuckerberg launched "Facebook". Facebook, a social network website, intended to connect people over the internet, starting with Harvard and other Ivy League school students.

2. Collaborators

What other entities will work with the company to fulfill the identified customer needs?

Sean Parker, co-founder of Napster (a file-sharing music service) joined Facebook in 2004 and saw its mega potential. Parker championed a clean user interface and introduced Zuckerberg to Facebook's first investor, Peter Thiel.

3. Company

What are the company's resources that will enable it to fulfill the identified customer need?

In January 2004, Zuckerberg and Eduardo Saverin agreed to invest $1,000 each into the site. In June 2004, Peter Thiel invested $500k into Facebook. In 2012, Thiel sold 16.8 million shares of Facebook for $640 million.

4. Competition

What other offerings aim to fulfill the same need of the same target customers?

Before Facebook, another social network website existed: Myspace. By 2004, Myspace had grown to 5 million users. Myspace aimed to fulfill the same need of connecting people over the internet as Facebook.

5. Context

What are the sociocultural, technological, regulatory, economic, and physical aspects of the environment?

Six years after launching, Facebook had 500 million users and a market capitalization of $41 billion. Today, Facebook has 2.89 billion users and a market capitalization of $940 billion.



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