The online social networking industry is growing rapidly with a variety of both personal and business oriented applications

emerging tapping into the global marketplace.
There are also many niche applications popping up, such as those targeting a specific geographic region, industry, or customer

group. The Vice President for your company, Funder Mifflin Inc., recently approached you with a new social networking website that

Research and Development designed. He explains that the company is extremely excited about the possibility of entering the industry

and taking advantage of the growing demand for social networking. Your company has extensive technical experience and the ability

to build most any feature into the website but they are unsure of what strategic direction to take when marketing the new website.

For instance, should your company focus on a specific niche or keep the website more mainstream. Additionally, they would like to

know the features, pricing, and marking strategy that would best support the new website. Given your background and management

expertise, your company, Funder Mifflin Inc. would like to offer you a bonus for helping the company implement a strategic plan to

get the new website off the ground. The Vice President explains that in order to receive the bonus, you will have to present a plan

of action to the Board of Directors in order to obtain funding to launch the new product. The essay should cover the following with

apa style applied: Cost leadership strategy: *Research and discuss the maturation of the social networking industry. *Explain how

Web sites or companies are adjusting to the maturation of the social networking industry. *Discuss the current trends of strategic

management in the social networking industry. *Explain how the maturation of the social networking industry worldwide could impact

your business strategy in the future. *Discuss a new strategic plan/approach to help your company in the future in regards to the

maturation of the industry. *Discuss how the new strategy will help the company with competitive advantage, cost advantage, and

differentiation advantage.

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