By using Facebook Places businesses has “Endless Possibilities” to promote.

Marketers can target Ads, Deals or Coupons for targeted customers.

It is one of the best features for the growth of Geo-Location Marketing.

Features:

• Lets Users track their friends
• “Check in” to real-world locations
• Let users find coupons
• Users can earn merit badges
• “tag” friends using the @ symbol
• Feature called “Here Now” (Sharing a Place)
• There is features called “People Here Now” (We can search for people around you)
• There is a feature called turn off
• Setting your own check-ins to particular group you want including ‘only me’

Checkout for more details :

http://www.facebook.com/places/