How does the bargaining power of customers affect the strategy of social networking platforms?

To overcome the issues of personal data safety, fake news, and trolling on social networking platforms, several strategies can be employed. Firstly, implementing robust data security measures such as encryption and two-factor authentication can enhance personal data safety. Secondly, platforms can develop and enforce strict community guidelines to deter trolling and abusive behavior. Thirdly, to combat fake news, platforms can invest in fact-checking teams and algorithms to identify and remove misleading content. Additionally, user education about digital literacy and critical thinking can also be beneficial.

The threat of new entrants in the social networking industry can significantly impact existing platforms. New entrants bring innovation and fresh ideas, which can attract a portion of the user base of existing platforms. They can also introduce new technologies or features that may be more appealing to users. Furthermore, new entrants increase competition, which can lead to a decrease in market share for existing platforms. However, it's important to note that entering the social networking industry also comes with significant barriers, such as the need for a large user base to succeed and high development and marketing costs.

Facebook faces several challenges in maintaining its user base growth. Firstly, there is intense competitive rivalry within the industry. Many industry players, from full-featured platforms like Google+ to niche social networking sites and new mobile apps, can affect Facebook's user base growth. The social networking space is prone to innovation and the introduction of new tech, so Facebook's massive user base can never be taken for granted. Secondly, providing a satisfying user experience is key for gaining and retaining a customer base on social networking platforms. Issues like personal data safety, fake news, and trolling have been hurting the platform user experience in recent years. Lastly, with the mobile landscape rapidly evolving, the threat of new entrants is always present.