When successfully building loyalty and community, trust seems to be the biggest factor. How can a company build trust and what is the best approach to do so (incorporating concepts from both the field of marketing and psychology)?

Management, Loose-Leaf Version
13th Edition
ISBN:9781305969308
Author:Richard L. Daft
Publisher:Richard L. Daft
Chapter6: Managing Start-Ups And New Ventures
Section: Chapter Questions
Problem 1CFCA
icon
Related questions
Question

When successfully building loyalty and community, trust seems to be the biggest factor. How can a company build trust and what is the best approach to do so (incorporating concepts from both the field of marketing and psychology)?

Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Communication ethics
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, marketing and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Management, Loose-Leaf Version
Management, Loose-Leaf Version
Management
ISBN:
9781305969308
Author:
Richard L. Daft
Publisher:
South-Western College Pub
Principles of Management
Principles of Management
Management
ISBN:
9780998625768
Author:
OpenStax
Publisher:
OpenStax College
Understanding Management (MindTap Course List)
Understanding Management (MindTap Course List)
Management
ISBN:
9781305502215
Author:
Richard L. Daft, Dorothy Marcic
Publisher:
Cengage Learning
Foundations of Business (MindTap Course List)
Foundations of Business (MindTap Course List)
Marketing
ISBN:
9781337386920
Author:
William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:
Cengage Learning
Foundations of Business - Standalone book (MindTa…
Foundations of Business - Standalone book (MindTa…
Marketing
ISBN:
9781285193946
Author:
William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:
Cengage Learning