Strategic Marketing Plan for Facebook: 2020-2023 Analysis

This report presents a detailed marketing plan for Facebook, a leading social media and technology company. It begins with an executive summary and introduction, outlining the purpose of the marketing plan, which includes capturing attention, educating prospects, and driving conversions. The report analyzes Facebook's current situation using secondary data, detailing its vision, mission, objectives, and key performance indicators. It emphasizes the importance of the marketing plan for customer relationship management (CRM), brand image, and sustainability. The core of the report develops a marketing strategy through segmentation, targeting, and positioning, and then assesses the elements of the marketing mix (product, price, place, and promotion) to improve Facebook's growth and market share. The report concludes by summarizing the key findings and recommendations for Facebook's strategic direction, providing valuable insights for enhancing its market presence and achieving its objectives from 2020-2023.

Marketing
Plan

EXECUTIVE SUMMARY
This project is based upon Facebook as being an American social media and
technology company headquartered in Menlo Park, California, United States. The Chief
Executive Officer of Facebook Company is Mark Zuckerberg. This project discusses various
purposes through capturing attention; educate prospects, convert and features of strategic
marketing plan with its research on secondary data by planning vision, mission and
objectives. It further analyse the importance of marketing plan for CRM, brand image,
sustainable and develops marketing strategy through segmentation, targeting and positioning
to remain stable in global market. This project also assesses the elements of marketing mix
that are product, price, place and promotion which improve growth and market share of
business.

Table of Contents
EXECUTIVE SUMMARY...................................................................................................................2
INTRODUCTION.................................................................................................................................4
MAIN BODY........................................................................................................................................4
1. Discuss the purpose of marketing plan..........................................................................................4
2. Demonstrate the current situation of organisation with research on secondary data......................4
3. Analyse the importance of marketing plan in an organisation.......................................................6
4. Develop the marketing strategy.....................................................................................................6
5. Assess the elements of marketing mix which improve growth and market share..........................7
CONCLUSION.....................................................................................................................................8
REFERENCES......................................................................................................................................9

INTRODUCTION
Marketing refers as the ability of exchanging goods and services from manufacturers
to its customers for meeting the requirements. It is essential for a company as to analyse the
demand of buyers, develop innovative idea to produce specialised product and promote it for
increasing brand awareness (Čorak and Šnajder, 2016). The project is based upon Facebook
as being an American social media and technology company headquartered in Menlo Park,
California. This project discusses various purpose and features of strategic marketing plan
with its research on secondary data. Additionally, it further analyse the importance of
marketing plan and develops marketing strategy to remain stable in global market. This
project also assesses the elements of marketing mix which improve growth and market share
of business.
MAIN BODY
1. Discuss the purpose of marketing plan
Marketing:- The action on business activity of promoting and selling finished goods
and services that are directly consumable by its end-users. Managers of Facebook are
beneficial as they perform their actions for providing service to connect more people at long
distance for maintaining good relationship.
Purpose of Marketing Plan:- The main purpose of marketing are mentioned below:-
 Capture attention:- The marketing capture attention of their end-users through
supplying them qualitative goods which results in providing high level of satisfaction.
Managers of Facebook are advantageous as they are able to attract more of visitors
through connecting them with family, friends, etc.
 Educate prospects:- Marketing leads to educate people with the whole description of
product by providing pros and cons of using goods and services. The Facebook
managers are helpful as they show each and every detail of their service and make
customers aware of some consequences through various steps (Fraga, 2016).
 Convert:- It is the process through which buyers are supplied with specific product,
low-risk, easy-to-take action that further facilitates the ability of potential customers
to make good decision. Managers of Facebook are beneficial as they convert their
attracted customers to use application and get entertained with videos, conversation,
etc.
2. Demonstrate the current situation of organisation with research on secondary data
Strategic Marketing Plan:- This is defined as the procedure of managers to develop
an innovative idea for producing new and specialised product in perfect competition market
to attract large number of customers. It is essential for an organisation to develop its
competitive strategies through intrinsic strength for controlling weakness and extrinsic
opportunities to minimise threats. Managers of Facebook organise strategic marketing plan as

to analyse the measure to identify demand of customers and to satisfy it for increasing their
growth and market share.
Strategic Marketing Plan Description
Vision The vision for managers of Facebook is to stay
connected with family and friends, discover what is
going on in the whole world, share and express
information by updating knowledge of customers.
Mission The mission for managers of Facebook is to give power
for their customers in building community and bring
the world closer together.
Objective The objective for managers of Facebook is to:-
 Share videos of business which people are most
likely to watch it.
 Develop advertisements of business that collect
information for interested people to fill the
vacancy as being employed.
Headquarters The headquarters of Facebook Company is Menlo Park,
California, United States.
Background The Facebook is an American Company offering online
social networking services. It was established in 2004
by Mark Zuckerberg. This further became the largest
social network in world with large number of users.
Size The size of Facebook is described as optimal size for
image post is 1200*630 pixels with the maximum
width of 470 pixels in Facebook feed.
Scope The scope of Facebook depends on more participation
with interaction as a variable of likes, comments
published regarding an update and publication sharing
with others (Perepelkin, 2017).
Product The Facebook Products include mobile, desktop and
tablets to install application for Messenger, Instagram,
Portal-branded devices, Bonfire, Facebook Mentions,
Spark AR Studio, Audience Network, NPE etc.
Services The Facebook Company provides free service to its
users by giving information that result in earning and
maximisation of revenue and profitability ratios for
sustaining in perfect competition market.
Users The Facebook Company have more than 2.50 billion
monthly active users in 2019.
Alexa Rank The Alexa Ranking of Facebook Company is fourth
after Google, YouTube and Tmall.
Uniform Resource Locator (URL) The Uniform Resource Locator (URL) for managers of
Facebook Company is www.facebook.com (alt.:
www.fb.com)
Key People The Chief Executive Officer of Facebook is Mark
Zuckerberg and the other key people are Harvard
College, Eduardo Saverin, Andrew McCollum, Dustin
Moskovitz and Chris Hughes.

Revenue The annual revenue of Facebook Company was US $
40, 653 million in 2017, US $ 55, 838 million in 2018
and US $ 70, 697 million in 2019.
Profit Share The profit share of Facebook Company was 83% in
2016, 88% in 2017 and 92% in 2018.
Market Share The market share of Facebook Company in accordance
with Social Media Stats Worldwide at April 2020 is
64.22%.
Subsidiaries The subsidiaries for managers of Facebook which
mostly create threats for company are WhatsApp,
Twitter, linkedIn, Instagram, Onavo, LiveRail, Oculus
VR, PrivateCore, etc.
Marketing Strategy The managers of Facebook Company develops
marketing strategy as to improve their growth and
market share by:-
 Increase profits by 10% in 2021:- Managers
of Facebook are capable in increasing their
profits by 10% as they attract large number of
customers to install this application in mobile
and desktop.
 Maximise market share by 15% in 2023:-
The managers of Facebook aims to maximise
market share as to increase the opportunity for
growth and stability in global market by
competing with rivalries.
3. Analyse the importance of marketing plan in an organisation
Importance of marketing plan:- The marketing plan is most important for a
company to achieve its desired goals and objectives in future (Royle and Laing, 2014). Some
of the importance is described as under:-
 Customer Relationship Management (CRM):- This is defined as the process of
managers through which they analyse change in taste and preference of customers.
Managers of Facebook focus on supplying service to build long-distance relation by
making possible conversation between them. This creates opportunity for business to
increase their end-users support and loyalty.
 Brand Image:- It is the ability of managers to maintain promise of supplying services
as prescribed in advertisement while its promotion. The Facebook managers are
emphasized by entrepreneurs to track and control their actions for beneficial of their
customers.
 Sustainable:- The actions performed in business which encourage customers to
consume it repeatedly and explore with features of updating pictures, videos, chats,
etc. Managers of Facebook are highly profitable as this result in improving the
consumption of application by enlarging its customers. This creates possibility of
business to remain stable in perfect competition market.

4. Develop the marketing strategy
Marketing Strategy:- The strategy refers as planning innovative idea by researching
prospective customers for attracting them to purchase the product by satisfying their needs
and wants. Managers of Facebook develop marketing strategy as to position their application
and software towards potential customers from age of thirteen (Sherbaniuk, 2014).
 Market Segmentation:- The segmentation refers as to discriminate the whole target
market into small section for attracting them to utilise product and enjoy its features in
their day-to-day life. Managers of Facebook focus on this as to capture attention of
teenagers for installing and among their group which result in high level of
satisfaction.
 Market Targeting:- It is the ability of managers to target their brand or product in
front of customers for encouraging target market to consume it. The Facebook
managers target their customers through developing various features in their
applications such as pictures, chat, calling, videos, adding friends, etc.
 Market Positioning:- The positioning refers as to promote product or service in the
mind of their customers which attracts them to use. Managers of Facebook position
their specialised features towards customers which result in developing and
maintaining long distance relationships.
5. Assess the elements of marketing mix which improve growth and market share
Marketing Mix:- The elements of marketing mix were introduced by a great
philosopher named as E. Jerome McCarthy. It includes determinants such as product, price,
place, promotion, people, process and physical evidence. The marketing mix is described as
set of marketing tools which increase promotion and advertisement of products and services
for an organisation. Managers of Facebook implement this as to share information through
social networking which results in low cost (Sowter, 2018).
 Product:- The product refers as tangible or intangible goods and services of an
organisation through which it attracts large number of customers. Products of
Facebook Company are Messenger, Instagram, Portal-branded devices, audience
network, etc., which are useful for customers to entertain themselves.
 Price:- The price is described as the cost or value of a product which is charged by
customers while purchasing it for maximising profits. Managers of Facebook have the
Net Worth of $ 138.3 billion which result in improving market value for sustaining in
global market.
 Place:- It is defined as the availability of a product or service where it is
manufactured and is further supplied to customers through direct and indirect channel
of distribution. The managers of Facebook are profitable as Facebook is being an
application which has to be just installed in mobile, desktops and tablets.
 Promotion:- This is described as the ability of managers to increase brand awareness
through promoting and positioning its products and services for large number of
customers. Managers of Facebook promote their application and services with
advertisements, print and social media, etc.

 People:- The people are most important element of a company in marketing mix
which plays effective role in supplying finished to end-users. These people are
manufactures, agents, wholesalers, retailers, customers (Tang, 2014). Managers of
Facebook focus on these people as they attract customer through specialising features
of product and services that leads and encourage buyers to install the applications.
The company places a very heavy focus on managing its people and invests a lot in
their compensation, training and career development.
 Process:- The process refers as the ability of managers to evaluate, monitor and
control actions performed by their workers to fulfil the needs of customers. Managers
of Facebook offer a very easy web application with high features that does not require
any technical knowledge to operate it.
 Physical Evidence:- The large number of companies offer their services online solely
and payments are carried out digitally. Managers of Facebook, the physical evidence
is limited with infrastructure of company as well as the app and user interface that
people used to open laptop and mobile. It further receives payment that users make
online on platform are provided digitally through attachment of electronic mail.
These elements of marketing mix are important for an organisation which creates
opportunity for business in improving its growth and market share. Managers of Facebook
implement this as to provide specialised product or service to their customers which attracts
them to consume it again and again (Trendler, 2016).
CONCLUSION
From the above discussion it have been concluded that marketing plan plays major
role in forecasting the decision for desired goal. This is the ability of managers, leaders and
workers to perform their task in an effective manner that leads to achieve success by
developing its competitive strategies. This project discusses various purposes through
capturing attention; educate prospects, convert and features of strategic marketing plan with
its research on secondary data by planning vision, mission and objectives. Apartly, it further
analyse the importance of marketing plan for CRM, brand image, sustainable and develops
marketing strategy through segmentation, targeting and positioning to remain stable in global
market. This project also assesses the elements of marketing mix that are product, price, place
and promotion which improve growth and market share of business.

REFERENCES
Books and journal
Čorak, D. and Šnajder, I., 2016. Marketing strategies and their application in small and
medium enterprises emphasizing the modern methods. International Journal Vallis
Aurea. 2(1). pp. 51-60.
Fraga, V., 2016. Azores tourism: A development and marketing strategy. Worldwide
Hospitality and Tourism Themes.
Perepelkin, J., 2017. Implementation and evaluation of a marketing for pharmacists elective
course. Pharmacy Education, 17.
Royle, J. and Laing, A., 2014. The digital marketing skills gap: Developing a Digital
Marketer Model for the communication industries. International Journal of
Information Management. 34(2). pp. 65-73.
Sherbaniuk, P., 2014. Gale Business Insights Handbook of Social Media Marketing by
Miranda Herbert Ferrara (Ed.) Detroit, MI: Gale Business Insights, 2013, 300 pp.,
$175.00, ISBN 978-1-4144-9931-4; eISBN 978-1-4144-9938-3.
Sowter, C. V., 2018. Marketing high technology services. Routledge.
Tang, R., 2014. Supporting pharmacy practice: Strategic marketing. Australian
Pharmacist. 33(7). p. 48.
Trendler, A., 2016. Branding the branch: A case study in marketing the architecture library at
Ball State University. Art Documentation: Journal of the Art Libraries Society of
North America. 35(1). pp. 130-143.