Online Privacy Concerns: Threat or Opportunity?

As Internet adoption continues to grow exponentially, so too have threats to privacy. While the Web empowers the consumers enormously, they are increasingly aware of the ways in which technology can be used to collect potentially sensitive information regarding them and the ability of vendors to use this information without their expressed permission. On one hand, marketers face intense competition in the marketplace and need to have sophisticated knowledge of their consumers in order to provide products and services that satisfy. However, on the other hand, consumer information privacy concerns have become an issue of great sensitivity. This paper provides a brief review of some of the issues surrounding consumer privacy in a networked era and outlines how some new technologies have exacerbated privacy concerns. It suggests that companies should respond to privacy concerns in a positive manner by treating consumer information privacy concerns as an opportunity rather than a threat.