Alex S: Outline of Final Project: Facebook on the Economy

Facebook or Advertising Empire

Getting Started

The economy is directly affected by producers and consumers being active in the market. Consumers control how healthy our economy is by purchasing items and maintaining stability. This where Economics comes to play with advertising products and the most efficient ways in doing so. Social medias have become Americas outlet for receiving news, staying in contact with friends, and now even finding goods and services. Facebook is everything on the web in one. Advertising on Facebook allows the consumer to choose what he or she prefers to click on by determining what they like on the page. The most impressive and unique thing that Facebook has done for the user is connecting the groups that he or she is in or things that that user likes with what is advertised on the website for that specific person. For example, on my Facebook page it notices that I have liked the Dark Knight Rises movie. Therefor, right on the side it has the release date of the DVD and where to purchase the movie when it is released. It also, becomes simple to connect friends and family to what it is that you have found by just having them one click away on the SAME website.

Expert's Opinion On the Matter

It is only possible to see how effective Facebook can be in advertising and marketing by confronting an expert in the economics field about their use of the social media. If these professionals have no interest in Facebook, then it would not seem wise to use this as a mainstream way to get products introduced to the public. Questions that arise that only an expert could give good opinions on would be. Do you use Facebook, and for what purposes (personal or for students and co-workers)? Also, does a social media such as Facebook have the power to rise to an advertising empire and influence consumers to purchase goods? Competing against magazines, other internet sources, newspaper, etc.