1. What is meant by the following statements:• Trust is not associative (non-symmetric)In terms of buyers and sellers, trust is not equal on both sides. The buyer may have increased or decreased trust in regarding the following: will the product arrive as advertised, will the seller stand by the warrantee, will there be recourse if not fully satisfied, and will payment information remain secure and private. In contrast, the seller may be concerned whether the buyer is legitimate and the payment for goods or services rendered is drawn on a valid account.
• Trust is not transitive Although sellers cannot directly pass on trust to consumers in its immediate form (or vice versa), it can be built up over time. For example, they can rely on word of mouth, the size of the organisation, brand names and certain seals of approval such as ‘TRUSTe’.
• Trust is always between exactly 2 partiesGenerally, trust is generally between two or more parties. The above statement is true when a transaction occurs between a buyer and a seller. However, trust becomes more difficult when additional parties such as suppliers and resellers are involved.
• Trust will involve either direct trust or recommender trustDirect trust occurs when a consumer (or seller) makes a judgment about the transaction first hand. For example, a consumer making a purchase over eBay. In contrast, recommender trust occurs when someone is given an approval or a referral to another regarding a particular product or service. For example, Customer A recommends Customer B do their online banking with the Commonwealth Bank.
2.a. Have a look at the following websites. What are some of the elements that have been incorporated to increase your trust in the sites? If there are also some aspects which decrease your level of trust describe them as well.http://www.eBay.com.auThe elements that are incorporated into eBay’s web site in order to increase consumer trust are:
• Security centre: this includes information about avoiding scams, protecting yourself and safe transactions.
• PayPal: enables anyone with an email address to safely send and receive payments online.
• Brand: eBay is recognised world-wide.
• Feedback: allows buyers and sellers to make a comment about their experience.
http://www.anz.com.auThe elements that are incorporated into ANZ’s web site in order to increase consumer trust are:
• Security and privacy statement: to inform consumer about the information they collect, how they advertise, cookies, email handling, use and disclosure of information and the security of information.
• Web site design: professional image and layout.
• Contact information: available for consumers who have any queries.
• Secure login: for internet banking.
• Security alerts: informs customers about recent scams and hoaxes to avoid.
http://www.thinkgeek.comThe elements that are incorporated into Think Geek’s web site in order to increase consumer trust are:
• Customer certified: it is a site that has been given the seal of approval by customers.
• Contact information: customers have the ability to contact the company.
• Brand name products: use a photo of the iPhone to advertise and instil trust in consumers. I.e. ‘Quality’ products are sold.
• Easy navigation
• Loyalty program: shows that customers come back to the store.
http://www.paypal.com.au
PayPal is a transaction site that deals with buyers and sellers of products and services. Trust needs to be incorporated since the transaction of money is involved. The precautions that PayPal uses to ensure clients trust are:
• An overview of the process
• The information that is collected
• The use and disclosure of information
• Information security
• Accessing and changing information
• How to contact the company
2.b. Find a web site yourself that you think looks untrustworthy.I found a couple of web sites that looked untrustworthy. However, I will not name them as I don’t want to ‘further’ damage their brand. The reasons why I found them to be untrustworthy were because the information was out of date and inaccurate, some of the information was unclear (the spelling and grammar was incorrect), too many advertisements that created clutter, the web site design was messy and complex, and there was no contact information.