New Attributes and Premium Services for Facebook

This paper discusses new attributes and premium services that Facebook can implement to increase profitability and attract more users. It also suggests modifications to existing services and the introduction of virtual goods and gifts shops and Facebook credits. The paper evaluates the potential impact of these changes on Facebook's market share and profitability.

FACEBOOK ASSIGNMENT

Table of Contents
Introduction......................................................................................................................................2
New attributes and premium services offered.................................................................................2
Modification of services..................................................................................................................3
Virtual goods and gifts shops and Facebook credits.......................................................................3
Conclusion.......................................................................................................................................5
References........................................................................................................................................6
1 | P a g e

Introduction
The paper will help in evaluating facts regarding the new attributes and premium services that
can be implemented by Facebook in the upcoming days. The paper will reflect a list of new and
innovative ideas that can increase their profitability in the competitive market. Moreover, these
services will help in evaluating the growth of the firm by attracting a large number of the users
towards it.
New attributes and premium services offered
Facebook is one of the leading social media platform throughout the world but due to lack of
innovative services, there are a few of the crucial challenges faced by Facebook. There are many
business ideas that can be executed with the help of innovative tools but the implementation of
beauty services with the help of Facebook will help in expanding the market share of the firm as
it will help in attracting a large number of the males and females towards the use of the beauty
services especially to the females (Ortigosa, Carro, & Quiroga, 2014). Facebook need to
implement beauty services where the beauty professionals can give their effective tips and ideas
regarding skin related problems and for looking beautiful. The females are seen to be more
concerned regarding their look in front of other people and thus, the enhancement of their skin
and overall look will attract them towards the use of the services. This service will be provided
free of cost to the females for a trail period of 7 days after that there will charges applicable
depending on various packages offered to them. Another innovative idea that the facebook can
implement is the providing information to the local tourists’ concerning the attraction spot that
helps the user to know about the various places without searching it on another social media
websites like Google or YouTube (Moghaddam, & Davis, 2014). Along with this service,
Facebook should introduce page of tours and travels where people can book their tickets online
without logging in (as a guest user) for purchasing the tickets (Lee, Lee, & Oh, 2015). It will
help the consumer for easily purchasing the tickets without having any problem. Moreover,
Facebook should implement a care specialist services so that if any user feels problem in their
health can post a message on the facebook page and instantly a care specialist should help him
out within the certain period of time (Kizilcec, Bakshy, Eckles, & Burke, 2018). This health care
service will be a premium service that will help in assisting the concerned patient quickly. Apart
from this, the Facebook should offer premium services that attract the customer as well as the
2 | P a g e

company should increase their profit in the online market. These premium services can include,
offering of the e-books facility where the user can read books easily without searching it from
other media platform (Trabucchi, Buganza, & Pellizzoni, 2017). Along with this they can also
offer online movie services and for these two services, there will be a nominal charge that will
help in bringing more customers towards the use of the service. For making facebook as one of
the premium social media platforms, Facebook should implement all these attributes and the
premium services in order to make the company profitable in their business throughout the
online market segments (Tu et al., 2015).
Modification of services
The services offered by Facebook should have to be modified so that the user gets more interest
to use it. Moreover, Facebook should use the recording facility option like Whatsapp as this will
help in enhancing the communication system among the users (Bühler, Baur, Bick, & Shi, 2015).
Thus the company has to modify this option by introducing a new voice communication method
and along with this the privacy protection of this apps should be improved. It has been seen that
there are few potential hackers that hacks Facebook profile of many people and it needs to be
reduced with the help of increase data protection security by Facebook (Hamari, 2015). For
reducing number of hacking, Facebook should use QR code for logging in the profile in another
system (Switzer, & Switzer, 2016). This procedure has to improve in such a manner that the user
use this platform more preferably than the other online platform. Apart from this facebook made
their home page on the basis of different languages of the people so that every individual user
uses the platform with language in which they are conformable (Yang, Huang, & Su, 2018). The
gaming application used on Facebook should be made more innovative so thus the user gets
more interested to use it (Courcoubetis, Gyarmati, Laoutaris, Rodriguez, & Sdrolias, 2016).
Along with this for making the feature more innovative, Facebook messenger should implement
broadcast message services where a message can be sent to several users instantly. By this new
feature the users can send a message to all of their Facebook friends at the same time and thus
this innovative implementation can attract the users on a huge amount (Menegaki, &
Alexopoulos, 2017). Actually, this new technique will save the time of the user and they do not
have to send the message to their friend individually. All this modification of the concerned
services increases the market share of Facebook in the online platform and hence they become
hold their leading position in the market throughout the nation (Liu, & Briggs, 2015).
3 | P a g e

Virtual goods and gifts shops and Facebook credits
In the virtual goods and gifts shop, Facebook launches many lucrative goods that attract huge
number of the users to use this services but this service has to be modified for increasing the
Increasing the various social media platform like Facebook. The virtual gifts like birthday cakes,
cards, campaign buttons, troll dolls should have to be modified and for this many more sticker
have been introduced by the compnay (Kosinski, Matz, Gosling, Popov, & Stillwell, 2015). This
will increase the user attraction of using this virtual gifts and hence the company gets profited by
applying this strategy (O’Hagan, 2017). Gift shops are very useful for the facebook users as
millions of them used this procedure for sending gifts from one location to other. For improving
this procedure facebook have to concentrate on product development skills (Chung, Marcketti, &
Fiore, 2014). They have to improve and enhance their products as well as the features which the
people use every day like inbox, comments, and photos and like buttons (Mamonov, &
Benbunan-Fich, 2017). Along with this, they have to improve their gaming application so thus
the facebook credits of the user will increase. The facebook credit is available in fifteen
currencies but the company has to use all the other currencies so that all people in the world can
utilize these services (Watkins, Denegri-Knott, & Molesworth, 2016). This facebook credit
services have also to be introduced in the other media application by modification of this
services.
4 | P a g e

Conclusion
Facebook is used as a broadcast tool for individuals all over the world and thus the services
should be innovative so thus they can attract a number of the audience towards their business.
Hence it is concluded that the new and innovative services offered by Facebook can make a huge
number of users in the coming days after implementing this process. Furthermore, the premium
services offered by Facebook can make huge impact on the company business procedure and it
can also increase their profit in the market segments.
5 | P a g e

References
Bühler, J., Baur, A. W., Bick, M., & Shi, J. (2015, October). Big data, big opportunities:
Revenue sources of social media services besides advertising. In Conference on e-
Business, e-Services and e-Society (pp. 183-199). Springer, Cham.
Chung, T. L., Marcketti, S., & Fiore, A. M. (2014). Use of social networking services for
marketing art museums. Museum Management and Curatorship, 29(2), 188-205.
Courcoubetis, C., Gyarmati, L., Laoutaris, N., Rodriguez, P., & Sdrolias, K. (2016). Negotiating
premium peering prices: A quantitative model with applications. ACM Transactions on
Internet Technology (TOIT), 16(2), 14.
Hamari, J. (2015). Why do people buy virtual goods? Attitude toward virtual good purchases
versus game enjoyment. International Journal of Information Management, 35(3), 299-
308.
Kizilcec, R. F., Bakshy, E., Eckles, D., & Burke, M. (2018, April). Social Influence and
Reciprocity in Online Gift Giving. In Proceedings of the 2018 CHI Conference on
Human Factors in Computing Systems (p. 126). ACM.
Kosinski, M., Matz, S. C., Gosling, S. D., Popov, V., & Stillwell, D. (2015). Facebook as a
research tool for the social sciences: Opportunities, challenges, ethical considerations,
and practical guidelines. American Psychologist, 70(6), 543.
Lee, K., Lee, B., & Oh, W. (2015). Thumbs up, sales up? The contingent effect of Facebook
likes on sales performance in social commerce. Journal of Management Information
Systems, 32(4), 109-143.
Liu, Y. Q., & Briggs, S. (2015). A library in the palm of your hand: mobile services in top 100
university libraries. Information Technology and Libraries (Online), 34(2), 133.
Mamonov, S., & Benbunan-Fich, R. (2017). Exploring factors affecting social e-commerce
service adoption: The case of Facebook Gifts. International Journal of Information
Management, 37(6), 590-600.
6 | P a g e

Menegaki, A. A., & Alexopoulos, A. B. (2017). Evolution of Logistics Centers and Value-Added
Services Offered in Port Areas and the Importance of Marketing. In Strategic Innovative
Marketing (pp. 291-297). Springer, Cham.
Moghaddam, M., & Davis, J. G. (2014). Service selection in web service composition: A
comparative review of existing approaches. In Web Services Foundations (pp. 321-346).
Springer, New York, NY.
O’Hagan, M. (2017). Deconstructing translation crowdsourcing with the case of a Facebook
initiative. Human Issues in Translation Technology: IATIS yearbook. London: Routledge,
25-44.
Ortigosa, A., Carro, R. M., & Quiroga, J. I. (2014). Predicting user personality by mining social
interactions on Facebook. Journal of computer and System Sciences, 80(1), 57-71.
Switzer, J. S., & Switzer, R. V. (2016). United States Taxation of Virtual World Economies: A
Review of the Current Status. In Handbook on 3D3C Platforms (pp. 85-101). Springer,
Cham.
Trabucchi, D., Buganza, T., & Pellizzoni, E. (2017). Give Away Your Digital Services:
Leveraging Big Data to Capture Value New models that capture the value embedded in
the data generated by digital services may make it viable for companies to offer those
services for free. Research-Technology Management, 60(2), 43-52.
Tu, G. H., Li, Y., Peng, C., Li, C. Y., Raza, M. T., Tseng, H. Y., & Lu, S. (2015). New Threats
to SMS-Assisted Mobile Internet Services from 4G LTE: Lessons Learnt from
Distributed Mobile-Initiated Attacks towards Facebook and Other Services. arXiv
preprint arXiv:1510.08531.
Watkins, R. D., Denegri-Knott, J., & Molesworth, M. (2016). The relationship between
ownership and possession: observations from the context of digital virtual goods. Journal
of Marketing Management, 32(1-2), 44-70.
Yang, Y. C., Huang, L. T., & Su, Y. T. (2018). Are Consumers More Willing to Pay for Digital
Items in Mobile Applications? Consumer Attitudes toward Virtual Goods. Pacific Asia
Journal of the Association for Information Systems, 9(4).
7 | P a g e