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New Attributes and Premium Services Offered

Evaluate facts regarding the new attributes and premium services that can be implemented by Facebook in the upcoming days.

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.

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 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). 

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.

Virtual Goods and Gifts Shops and Facebook Credits

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.

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.

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).

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