The objective of the top line revenue is to increase the revenues by increasing the sue of mobile payment system in the consumer market.
Projected Sales
By analyzing the current strategies, it is projected that the sales will be giving revenues on an average rate such as $311,450,710 in first year, $317, 540, 200 in second years and $326,416,729 in third year. But from the future perspective there is a need that the company must take use of an innovative technology to have increased market share and revenue. The market is between the growth and the maturity stage as it is one of the most recognized social media platforms but still has a number of innovative and pioneering technologies by which it can conquer new market share. ![]()
- From the last five years, it has analysed that Facebook is growing continuously with an increasing rate. The growth, revenue and the customer base all have been increased with an upsurge rate. But a few points, it has been analysed that there has been a decrease in the revenues and customer base and the most significant reason can be the increasing number of competition in the social media market. Therefore, it has been analysed that there must be used new and innovative operations and strategies to maintain the growth.
- The estimated top-line revenues by taking use of a new strategy is $359,570,729 in first year, $377,549,266 in second year and $396,426,729 in the third year. Thus, to maintain the market leadership and have sustainable growth and success, there is a need to have innovative technologies such as the mobile payment system.
Strategic Gap Year 1 Year 2 Year 3
|
Top-line revenue objective
|
$359,570,729
|
$377,549,266
|
$396,426,729
|
|
Projected revenue from continuation of current strategies
|
$311,450,710
|
$317,540,200
|
$326,416,729
|
|
Revenue gap
|
$48,120,019
|
$60,009,066
|
$70,010,000
|
Develop product-market strategies to close the gap
Market penetration strategies
Facebook will take use a number of market penetration strategies to close the gap that comprises of diversification, improving products and being unique and having a different approach. First of all Facebook will launch the mobile payment system as a diversification strategy by entering into the payment system or banking system. Facebook will also take use of penetration strategy such as being unique and taking a different approach as Facebook will have pioneering technologies in implementing the mobile payment system to attract the consumer market. As well as by improving the existing operations, Facebook can also have successful market penetration.
Market development strategies
Facebook will also take use of several market development strategies that comprises of approaches such as by increasing the present customer base through the launch of mobile payment system, attracting eth customers of the other competitive social media platforms through continuous innovation, developing strategies to have new users and expanding eth service of mobile payment system geographically too.
Incremental innovation strategies
There is a need to have continuous innovation strategies to fill the gap such as Facebook must also have various other services and operations which can give more technological support to the users and they can have various opportunities to stay connected with Facebook. Incremental innovation will be innovation in the existing products such as by having innovation in the social media platform, adding more channels etc.
Radical innovation strategies
The radical innovation strategies that must be used by Facebook are those which are new and does not have link with existing products. And thus, Facebook must also take sue of radical strategies such as by having a new business lien so that revenues can be gained and increased market share.
Year 1 Year 2 Year 3
|
Market penetration
|
$200,000
|
$150,000
|
$120,000
|
|
Market development
|
$150,000
|
$180,000
|
$200,000
|
|
New product development
|
$250,000
|
$100,000
|
$100,500
|
|
Radical innovation
|
$150,000
|
$120,000
|
$200,000
|
