14/01/2023
Question 1
Question One
SixDegrees.com was the first social media site to have ever been created at its time. SixDegrees.com hoped to achieve massive success since it was a new concept introduced on the internet. However, as a first mover on the internet, SixDegrees.com experienced several disadvantages as follows.
• As a first mover, SixDegrees.com needed to become more familiar with any mistakes and the needs of potential users. The company gained popularity but experienced challenges that its developers had yet to anticipate. Nevertheless, it was only a matter of time before the company needed more funds and closed down. The company also created a site that needed more features to keep the users engaged. With time people left, and the company closed, but the competitors learned from its mistakes, and others companies with better strategies were soon made.
• SixDegrees.com was disadvantaged as it lacked a proper profitable model. Even though the company had the potential for success and revenue creation, it needed to gain experience in creating a profitable model. Being a first mover means the company would develop its economic market and thrive. The process of creating the market and, at the same making profit from the market seemed challenging; hence the company closed down.
Question Two
MySpace became more successful since it learned from the mistakes of the previous sites and leveraged the popular features of Friendster. Apart from learning from Friendster’s mistakes, MySpace also introduced new features, such as making member profiles viewable by all users and enabling members to customize their profiles. MySpace also had a lot of users compared to Friendster, as it took advantage of 20 million subscribers and e-universe email users.
Facebook, on the other hand, came into the market when the popularity of social media was already being attained. Facebook’s success is attributed to the fact that by the time it joined the market, it was not difficult
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