Abstract
Marketing is a process of creating, capturing, and exchanging ‘value' for the mutual benefits of marketers, customers, intermediaries, and other stakeholders. Such a transaction requires trust as it might be facing a range of online cyber risks. Modern cybercrimes have exponentially grown over the last decade. Ransomware is one of the types of malware which is the result of a sophisticated attempt to compromise the modern computer systems. The businesses, governments, and large corporations are investing heavily to combat this cyber threat against their critical infrastructure. New technological shifts help to improve marketing and business productivity and keep the company's global competitiveness in an overflowing competitive market. However, the businesses and the systems involved need security measures to protect integrity and availability which will help avoid any malfunctioning to their operations due to the cyber-attacks. There have been several cyber-attack incidents on several businesses such as healthcare, pharmaceutical, water cleaning, and energy sector.
TopConcepts Of Risk And Trust In Online Environment
Ecommerce is the transaction of goods and services over the internet and it involves sharing, transferring and exchanging of information and value (Yazdanifard, Al-Huda Edres, & Seyedi, 2011)
Main issues with e-commerce transaction are issues of ensuring customer trust security, privacy, functionality and user-friendliness issues are considered to be barriers to online shopping and minimizing customers’ risks of privacy and security is an issue in front of organisations (Gupta & Dubey, 2016). The privacy is related to customers’ concerns regarding control of personal information and potential risk of stealing personal information and then subject to misuse by someone. Customer trust is the main barrier to the growth of eCommerce. So the key to the success of e-business is to ensure an e-environment in which various stakeholders can feel confident about any possible transactions and the process are smoothly running without undue blockages or obstructions.
The business has already adopted IT technologies in their different functional areas such as supply chain, operations, production, distributions, and transactions with the customers.
Key Terms in this Chapter
Cybercrime: A criminal activity which is carried out using computers to commit an offense.
Botnets: A compromised machine over the Internet which is controlled by hackers to carry out attacks on target machine.
Ransomware: A kind of malicious software, it encrypts all the files on target machine, take control of it remotely and demands for virtual money to be paid as a ransomware.
Malware: A malicious software intentionally designed to harm computer systems or networks.
Cyber-Attack: An illegal attempt by hacker to target an individual or an enterprise for harm or financial gain.