Free Book Review On Treatment Of Customer Data

If I had the resources to buy consumer data based on internet purchases, it would be supreme that I verify that the information will be useful in reaching out to the target market. Data on their spending patterns, their likeliness to be interested in purchasing a product similar to ours. I would also consider the circumstances that led to the acquisition of such data. Many consumers are sensitive about their data being divulged without their knowledge. Using such data therefore, would possibly scare off a potential customer. I would also seek to acquire data of purchases made of other competing brands so as to establish, why they chose the other product other than ours, how they reviewed these other products and most importantly, how can I package or revamp my product to win the particular market.
In considering on whether to buy certain consumer data, I would take care as to ensuring that I don’t break any laws on respecting the customer’s privacy. On some occasions I would be interested on how the consumer would react when we contacted them using the information as use of some intimate information about customers might attract legal suits.
On the other hand if I ran a company handling consumer data and selling it to other companies, I would consider several factors in these transactions. For what purpose is the buyer seeking the data? Under the privacy act, it is required that private data is protected from misuse, unauthorized access and modification for instance. It would be paramount that they sign a usage agreement so as to make them liable in case they misused the data and litigation ensued. I would also put effort in ensuring I provided the customers with objective data that would meet their marketing needs to appeal to the prospective customers.