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WEB TRUST
GRIFFITH UNIVERSITY, SEMESTER ONE 2002
FUNDAMENTALS OF E-COMMERCE
MMG 2020
TINO FENCEH
(Adopted from Houston, 2001)
CONTENTS
1.0 WEB TRUST
3
2.0 TRUST
. ... 0 WEB TRUST
Trust is an important issue in many social and economic interactions. This paper explores the issues relating to trust in the context of e-commerce and the Internet. In the new era of the Internet and World Wide Web (WWW) it is said that that trust is more crucial than ever before (Luo, 2000).
Trust, or lack of has been identified as one of the major inhibitors to e-commerce. As e-commerce grows it will be essential that the players in the electronic market understand the antecedents of trust if they wish to build lasting relationships with their consumers (Gefen, 2000). ... 0 TRUST
Trust in general is an important factor in many social and economic interactions involving uncertainty and dependency. Broadly, trust is the confidence a person has in his or her favourable expectations of what others will do. Previous interactions with others do not necessarily guarantee trust, however trust may increase through interaction (Gefen, 2000). Human beings operate on a very complex system of trust relationships. We trust different people in different ways and contexts. ...
Relationship marketing and social exchange theory suggest that trust is the most precious asset any business may possess. Luo (2000) states that in the era of the Internet and the World Wide Web (WWW) trust is more crucial than ever before and may in itself determine the future of the Internet.
Trust, or lack there of has been a major factor in the online community for both the business to business (B2B) and consumer to business (C2B) segments. Trust may be associated with purchasing online, customer data, privacy, security and fraud (Stahl, 2002). Trust can also sit at the other end of the spectrum online. Aspects relating to quality of information online, software downloads and chat rooms all require a certain level of trust. ...
E-commerce is growing at an exponential rate and trust will play a key role in allaying consumers concerns in a market that possess high uncertainty and a lack of legal protection (Luo, 2001). E-commerce website owners need to understand the important antecedents of trust if they are to build lasting relationships with their consumers (Gefen, 2000).
Gefen (2000) states that trust requires extensive ongoing two-way interaction. ... This suggests that when it comes to the Internet interaction does not enhance trust. ... Although browsing on the Web may feel like an anonymous activity it is hardly that way at all. ...
These concerns for privacy and lack of trust are major contributors as to why customers drop out of online business. ... 1 Purchasing Online
For many people the Internet is used to read news, look for jobs and compare product prices and information but many stop at this point and do not purchase online due to a lack of trust (Luo, 2000).
Approximate Word count = 2319
Approximate Pages = 9.3
(250 words per page double spaced)
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