Business involves a mutual relationship between the buyer and a seller. What maintains the consumers’ loyalty towards a particular seller is what either gives or takes away the life of a business. Without buyers, the lifespan of any business is placed at risks of closure provided that that the buyers can still get the services or products from other willing sellers. The secrets to maintain a consistent mutual relationships between the buyer and the seller is built on trust, will, commitment and satisfaction with the products or services provided. Life Lock company attracts numerous mixed reactions from its consumers’ who expresses their dissatisfaction or opinions over the provision of identity theft protection.
- What are consumers saying about LifeLock?
Recently, LifeLock attempted to commit a business suicide after falling prey on the Federal trade and Commission. It was alleged and affirmed that Life Lock had succumbed to deceptive trade practices and failed to protect its consumers’ data. As a company entrusted by American citizens to ensure their protection from identity theft, such incidence marked the start of public negative criticism.
The Americans directed theirs blames to LifeLock’s failure to apply security patches and updates to its network, as well as ensuring adequate measures to detect and counter unauthorized access to the consumers’ personal information. The investigations by Consumer Reports showed that Life Lock had limitations over sites accessing and selling its consumers’ identities. It was reported that the Company would only notify its consumers after discovering any potential identity fraud.
Similarly, the USA today relayed a story where a woman had suffered from identity theft by her husband via her Life Lock account. However, the company diverted the blame to her rather than offering a permanent solution to her identity theft protection.
- Does is matter to LifeLock’s Business?
The recent legal woes and public complaints against LifeLock is a paramount issue that needs to be addressed. The several dissatisfactions expressed by LifeLock’s consumers’ reflect a fading mutual relationship between the seller and consumers. Coupled with multimillion-dollar fines and penalties, the negative publicity and criticism over the Company’s business operations threatens the growth of LifeLock.
Besides, the emergence of other similar companies in the industry offering identity theft protection creates competition and reduces the LifeLock’s market share. Such Companies may attract the majority of consumers through affordable alternatives of identity theft protection services. A stitch in time saves nine; thus, the need for Life Lock to refocus its business strategy based on re-establishment of better customer relationships to restore its tinted image, public trust, and reputation.