Provides a comprehensive overview of data privacy in marketing, with special emphasis on the customer-firm interface Provides insights for how marketers can manage their customers' data privacy concerns Identifies key data privacy threats for business and offers guidance on how those threats can be prevented and managed

Autorentext

Robert Palmatier is Professor of Marketing and John C. Narver Chair of Business Administration at the Foster School at the University of Washington, USA. He founded and serves as the research director of the Sales and Marketing Strategy Institute (SAMSinstitute.com). Robert's research focuses on marketing strategy, relationship marketing, and privacy. He is the present co-editor of the Journal of Marketing and past Editor-in-Chief of the Journal of Academy of Marketing Science. He has published books Marketing Channel Strategy; Relationship Marketing; Marketing Strategy; and Customer Engagement Marketing. Kelly D. Martin is Associate Professor of Marketing and Dean's Distinguished Research Fellow at Colorado State University, USA. Kelly's research interests involve marketing ethics and firm strategy, especially in the areas of privacy, politics, and consumer well-being. Her articles have been recognized for impact as recipients or nominees of multiple awards. Kelly received the inaugural AMA Marketing and Society Emerging Scholar Award and held a Colorado State University Monfort Professorship for research.

Klappentext

Firms are collecting and analyzing customer data at an ever increasing rate in response to evidence that data analytics (precision targeting, improved selling) generates a positive return. Yet efforts often ignore customers' privacy concerns and feelings of vulnerability with long-term effects on customers' trust, relationships, and ultimately financial performance. Big data, privacy, and cybersecurity often is relegated to IT and legal teams with minimal regard for customer relationships.

This book fills the void by taking a customer-centric approach to privacy. It offers both defensive and offensive marketing-based privacy strategies that strongly position firms in today's data-intensive landscape. The book also helps managers anticipate future consumer and legislative trends. Drawing from the authors' own work and extant research, this book offers a compelling guide for building and implementing big data- and privacy-informed business strategies.

Specifically, the book:

· -Describes the consumer psychology of privacy

· -Deconstructs relevant legal and regulatory issues

· - Offers defensive privacy strategies

· - Describes offensive privacy strategies

· Provides an executive summary with the Six Tenets for Effective Privacy Marketing

This book will be useful to managers, students, or the casual reader who is interested in how and why big data and consumer privacy are transforming business. Moving beyond summary privacy insights, the book also offers a detailed and compelling action plan for improving performance by protecting against privacy threats as well as developing and implementing offensive privacy strategy. In the future, many firms will be competing through an integrated, customer-centric big data privacy strategy and this book will guide managers in this journey.

Zusammenfassung

Winner of the 2021 Leonard L. Berry Marketing Book Award from the American Marketing Association.

Firms are collecting and analyzing customer data at an ever increasing rate in response to evidence that data analytics (precision targeting, improved selling) generates a positive return. Yet efforts often ignore customers' privacy concerns and feelings of vulnerability with long-term effects on customers' trust, relationships, and ultimately financial performance. Big data, privacy, and cybersecurity often is relegated to IT and legal teams with minimal regard for customer relationships.

This book fills the void by taking a customer-centric approach to privacy. It offers both defensive and offensive marketing-based privacy strategies that strongly position firms in today's data-intensive landscape. The book also helps managers anticipate future consumer and legislative trends. Drawing from the authors' own work and extant research, this book offers a compelling guide for building and implementing big data- and privacy-informed business strategies.

Specifically, the book:

· -Describes the consumer psychology of privacy

· -Deconstructs relevant legal and regulatory issues

· - Offers defensive privacy strategies · - Describes offensive privacy strategies

· Provides an executive summary with the Six Tenets for Effective Privacy Marketing This book will be useful to managers, students, or the casual reader who is interested in how and why big data and consumer privacy are transforming business. Moving beyond summary privacy insights, the book also offers a detailed and compelling action plan for improving performance by protecting against privacy threats as well as developing and implementing offensive privacy strategy. In the future, many firms will be competing through an integrated, customer-centric big data privacy strategy and this book will guide managers in this journey.

Inhalt

Part II

Defensive Strategies: Protecting from Threats

Chapter 4: Big Data's Marketing Applications and Customer Privacy

Introduction

Advances in Marketing Applications

Understanding the Marketing Environment

Precision Targeting Big Data's Role in Value Creation, Communication, and Delivery

Big Data's Inherent Tensions

Company Benefits

Company Challenges

Customer Benefits

Customer Challenges

Potential and Peril of Artificial Intelligence in Marketing

Novel Applications

Customer Vulnerability Escalation

Chapter 5: Inoculating Against Customer Vulnerability

Introduction

No Company Is Safe

Spillover Effects

Competitive Effects

In Praise of Data Minimization

From a Data-Driven Culture to a Customer Learning Culture

Empowering Customers with Transparency and Control

Breaking Down Transparency and Control Customer Empowerment Outcomes

Keeping the Customer Relationship Focal: Advice to Managers

Chapter 6: Privacy Failures and Recovery Strategies

Introduction

Data Breach as Marketing Crisis

Recovery Effectiveness: What Customers Want

Customer Vulnerability and Firm Benevolence

Customer Behavior Effects

Learning from Bearers of Bad News The Medical Example

How Bad Is It? Sources of Severity

Customer-Focused Data Breach Recovery Strategies

Recovery Strategy Delivery

…