On February 6th of 2017, The Wall Street Journal reported that the social messaging app Snapchat was planning on filing for an initial public stock offering (IPO). Snapchat was determining the current worth of their company and it was between $20 billion and $25 billion (Seetharaman). However, Facebook and Facebook’s app Instagram have recently been ripping off many of Snapchat’s signature features, which is troubling for Snapchat considering its “growth in daily active users . . . is slowing” (Seetharaman). Both Snapchat and Facebook are going after the same demographic, teens and young adults. According to The Wall Street Journal’s, Deepa Seetharaman, there are many features on Snapchat that appeal to this demographic, which Facebook and …show more content…
The theory of consumer choice suggests that people make choices to gain the most satisfaction that they can in a state of scarcity, with the opportunity costs and alternatives that they deal with (Espinoza and Dolan 115). Consumer choice consists of objectives and “constraints that shape the opportunities available to consumers” (Espinoza and Dolan 116). Regarding objectives, an economic term called utility is involved, which is “the pleasure, satisfaction, or need fulfillment that people obtain from the consumption of goods and services” (Espinoza and Dolan 116). In this article from The Wall Street Journal, it talks about the features and structure of Snapchat, which greatly appeals to a younger demographic and how Snapchat gives utility to consumers. When Snapchat is compared to Facebook and Facebook’s Instagram app, Snapchat is considered a more authentic network because it promotes candid and informal posting. It is also an easy app to use, which is another reason why this group of consumers age 35 and under gravitates to Snapchat (Seetharaman). In a diagram created by Facebook, they compared the amount of steps users needed to complete to post on Facebook versus Snapchat, “It took nearly twice as many steps to post on Facebook as it did
Today, modern technology has changed our way of life in many different ways. We spend most of our time staring into our phones and do not realize our surroundings. According to Jean Twenge, the author of “ Have Smartphones Destroyed a Generation”, ninety-two percent of teens report going online at least once a day, and fifty-six percent admit they go online several times a day. This may sound unrealistic but why do we spend so much time on social media? In “ Our Minds Can Be Hijacked”, an article by Paul Lewis, Lewis interviews Google, Twitter, and Facebook workers who helped make technology so addictive and demonstrates how we can prevent ourselves from being harmed by it. I believe companies are partially responsible for creating addiction
In 2014 Facebook offered Evan Spiegel a $3 billion deal to sell Snapchat to Facebook, however Spiegel declined the offer. He said, "There are very few people in the world who get to build a business like this. I think trading it for some short-term gain isn't very interesting" (Editors Online). Although Spiegel declined this offer, he still has a net worth of $2.1 billion, which makes him the youngest billionaire in the world.
Last with snapchat you can send something funny but not appropertet to 30 people but you don't have to show your grandma. If i took a video and you say a bad word i can send it to Ethan,Gael,Peter and Aaryn but not grandma,Unlike facebook where you put one thing on their and everyone can see it with snapchat you chose.If you want to tag someone it wont show that video to their friends.There is a thing call your story where you can post one thing and everyone can see it once.
The appreciation that they receive form others has made them more confident. In the article “Why Your Kids Love Snapchat, and Why You Should Let Them” by Rachel Simmons, it states that there is very little audience participation. In particular, there is no “like” or “heart’’ button which means that there is no way for others judge and measure our value. There was also a study that was conducted about how Snapchat may have a correlation with self-esteem. This experiment was conducted by a biological social linguistic psychologist Fem I. Nine at the University of Pennsylvania. Nine found that there were strong connections between the application Snapchat and teens self-esteem. They had over three hundred participants from middle schools, high schools, and colleges. One particular participate went into a deeper response and said, “I really feel like each one is a piece of art…that lasts for 6 seconds.” This statement implies that teens feel good about themselves when they post on Snapchat because they have taken the time to perfect the picture that they are going to
Snapchat also provides real-time content, meaning you can see what your friends are doing right in that moment. This is a contrast other forms of social media because Snapchat allows users to connect on a more minute to minute basis, leading to a seemingly more genuine connection, whereas users of social networking websites like Instagram and Facebook post the highlights of what they are doing on a less regular basis.
In this era where thousands of incredible apps are available for free. It is possible to get lost in the jungle of app store and play store. Even though the millennials have not yet been able to figure out a way of moving out of their parent’s houses, they have discovered Snapchat from the labyrinth.
Americans today tend to believe that social media has benefited them to connect with others quickly. Nearly two-thirds of Americans (65%) use social networking sites, up from 7% when Pew Research Center began systematically tracking social media usage in 2005 (Perrin). Technology has contributed many benefits for our society to enjoy and one of this is social media. Social Media refers to an online application such as Facebook, Twitter, Instagram, Snapchat, Tumblr, or Pinterest that people enjoy to share photos or videos. These applications can be accessed through computers, laptops, IPads, tablets, and smartphones. Today nearly two-thirds of Americans own a smartphone, and 19% of Americans rely to some degree on a smartphone for accessing
The advancement of technology has completely changed the way in which businesses advertise to consumers. Gone are the days of radio shows, newspaper ads, and “snail mail.” With services, such as Netflix, advertisers are made obsolete. As Baby boomers retire, it becomes more critical for companies to connect to the millennial generation, since research has shown that brand loyalty is established at younger ages. Yet, the millennial generation has grown up with more technology and access to information than any other generation. It appears, the people that constitute Generation Y have become prisoners to their smartphones. For example, the iPhone can contain almost every aspect of a person’s day. From their email, photos,
Many people make assumptions on what things are without doing research, I admit I have done the same. People seemed to have made assumptions especially on what happens when Net Neutrality was repealed. People assumed that Snapchat and social media was going to be affected, but realistically it was internet in general including texting which is already throttled.
As might be expected, the millennial generations as a whole are passionate about the technological and communication advances in the past decade with the internet and social media. “A new Pew Internet Project report reveals that 93% of young adult’s ages 18‐29 are online” (Andrew January 14 to 27, 2010). This allows access for marketer’s access to the generation in a different way than previous generations.
The invention of Snap Chat was literally an accident; two measly college students got bored and that’s why they invented Snap Chat. This app has revolutionized photo taking to a whole new level. In this paper I will talk about, who invented Snap Chat, how Snap Chat became popular, why teens use it and how Snap Chat influenced our culture.
In addition, the app offers users an ability to customize the image using filters. The purpose of the filters is to turn a mobile photo into an artistic-looking image. The name was derived from the combination of “instant camera” and telegram. According to an article published by Mikaela Rakos, Instagram started with “one million monthly users” (Rakos 2014). In April of 2012, the company reached 30 million users. As a result, Facebook noticed the growth and bought the app for one billion dollars (on April 9, 2012). From that point on, the usage of Instagram has gone up exponentially, reaching 150 million users in 2013. Instagram’s growth is largely due to the Facebook purchase. The company was listed in Time Magazine as “one of the top 50 apps for Android” and a report by Global Web index found that Instagram was the fastest growing social
“Social media, a web-based and mobile technology, has turned communication into a social dialogue, and dominates the younger generation and their culture. As of 2010, Generation Y now outnumbers Baby Boomers, and 96% of Gen Y has joined a social network” (Qualman 1). Social media now accounts for the number one use of the Internet, and this percentage is rising bigger every day (Qualman). As a consequence, people are becoming more reliant on social media, which has a led to a number of advantageous as well as unfavorable effects. The world is more connected today than it has ever been in the past, and this is all because of growth in technology. What has yet to be determined though
This article mainly focuses on the SWOT Analysis of Snapchat because the strengths and weaknesses are mentioned, as well as the content and audience, which helps plan for future opportunities and threats. S (Strengths) – Interact on a personal level, showcase creativity, and user-friendly. W (Weaknesses) – Difficulty to promote new users and audience has short attention span. O (Opportunities) – Alter content based on audience and promote various marketing strategies.
Young people overshare their lives on social media and this has led to the assumption they disregard privacy. Many aspects of their online life is subject to vague conditions and young people have grown up too trusting of digital technologies, yet their intentions are evident. They do care, a good example that highlights their desire for privacy is their use of ‘Snapchat’ a popular smartphone application. This app allows the user to send photos or videos with a timed erase preventing the receiver from storing the content. Although actual protection of this data is an illusion, for the app company still preserves the data but their desire to protect their information is clear.