Impacts Of Online Privacy Consideration On Consumer Behavior

The Impacts that Online Privacy Consideration will have on Consumer Behavior Name of Student Institutional Affiliation Date of Submission The Impacts that Online Privacy Consideration will have on Consumer Behavior With the awakening era of digitalization and technology, our lives have become more linked with technology in almost all aspects such as buying and selling of goods and services, communication and online advertisement. However, the concern for the risk of private information being leaked to the public has become an issue that requires consideration. Access to consumer private information allows marketers understand the preferences of that consumer and thus target their marketing in a way that will get the attention of the consumer. On the other hand, registering to a website demanding for private information will not be most welcome to a consumer if they only need the website for a short while. Marketers use information they access from a consumer’s accounts in order to get direction for their advertisement and marketing strategy. These they use to post ads on social media and online applications we use to remind a consumer to check on a product they need. This makes it easier for the marketer and is highly convenient for a consumer to have products they need at a click of a button. Facebook for example provides a lot of information to marketers about the purchasing behavior of their users which is used by online businesses to post ads and make suggestions to a consumer on products or services they would need. It is both beneficial to consumers and marketers. Nonetheless this reliance by online marketers is becoming threatened by the privacy concern that affects the purchasing intent of a consumer. There lies some concern by consumers when it comes to giving an online company their details based on the perceived level of privacy to the consumer’s information. The purchasing intention lies on this security, if a consumer feels that their information is not necessary for the purchase they will either decline the purchase or falsify their identity and if it’s absolute to provide that information, consumers resort to use privacy enhancing technology. This leads to companies storing information that is inaccurate which will interfere with their marketing power. On the other hand if a consumer feels that their information is well protected by the online company, they will be more inclined to continue purchasing. There lies great threats to private information with the advancement o...