A sound marketing strategy is vital to the success of an organization in today’s rapidly changing business climate. In this critical thinking assignment, you will compare and contrast the overall marketing strategies of MySpace and Facebook.
Using the information learned in Chapter 1, answer the following questions in a 2 – 3 page paper supported by at least two scholarly references.
(1) What were the specific strategies MySpace and Facebook employed to build successful social network sites (SNS)?
(2) Why do you believe Facebook became the leading SNS in the world and enjoyed the largest valuation in history for a newly listed public company? Why was MySpace, founded in 2003, overtaken by Facebook in 2008? Provide concrete examples.