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The network effect is bundled into products, services, and platforms for buyers and sellers to buy and sell products. For example, delivery apps such as GrubHub, door dash, uber eats, instacart, postmates. Or social media apps such as Facebook, Twitter, Instagram, Linkedln, Snapchat, and many other servicing and social media apps. They all have one thing in common: they increase the company\u2019s profit by using extremely reliable and convenient services for consumers. As you can see, it\u2019s important to understand network effects because it can help businesses become more successful, according to Harvard University. \u201cCompanies that can leverage or exploit network effects often experience rapid growth rates,\u201d Anand says. \u201cNot just that: Once you\u2019re ahead, you tend to stay ahead. Your demand keeps growing even faster as you get bigger.\u201d Lastly, taking advantage of the network effect is, \u201cOnce you\u2019ve gained significant market share, you can often sit back and let the network effect take over.\u201d Letting the effect take over benefits the company because they have more time on their hands to work on more projects. If your network effect is effective, companies could lower their prices a bit for consumers because they don\u2019t have to worry much about promoting and advertising their products. The picture above is an example of network effects while skype is in one app. On the other hand, Zoom is different because the user can access it on all sorts of devices.\u00a0<\/span><\/p>\n