Variables in the Compromise of Customers' Credit Card Information at Target's U.S. Stores

Variables in the Compromise of Customers’ Credit Card Information at Target’s U.S. Stores
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Variables in the Compromise of Customers’ Credit Card Information at Target’s U.S. Stores
One issue that Target Corporation is facing currently is the unauthorized access to payment card data at its U.S. stores, which is said to have affected over 70 million users. The data breach involved unauthorized person/persons accessing the credit/debit card information of the retailing company’s guests, including PIN data, mailing addresses, phone numbers, and emails. Following this incidence, there were concerns over the identity safety of guests who use credit/debit cards to make payments and online purchases. As a result, the company was concerned that its customers maybe equally worried about their privacy and safety of their credit card information, which in turn may affect their trust and confidence in the company.
From a business marketing perspective, the relevant variables in this case relate to the role of business ethics in promoting the brand name of the company and creating a royal client base. Communication, especially the choice of language, is a powerful tool for promoting the company’s values and principles. Accordingly, the following list of variables is evident from Target’s media updates regarding the hacking incidence.
Valuing customers’ needs and establishing a royal client base
Business ethics and gaining customers’ trust.
The media updates demonstrate Target’s concern for the needs of its customers. The frequent updates assuring the affected persons that the company is doing everything to improve the safety of their credit card information and avoid similar incidences in future shows that the company values its customers. Its services are customer-oriented since its first priority is to ensure that their privacy and safety when using credit cards is guaranteed. This strategy helps the company retain the royalty of its customers.
The second set of variables is the relationship between sound business ethics and gaining customer trust (Mahoney & Vallance, 1992, p. 169). The company’s transparency in reporting the incidence and providing customers and the authorities with the relevant information assures consumers that the company has nothing to hide, and that it engages in ethical practices. This is important in creating good relations with the custom...