Data-Driven Insights: The Power of Genetic Information in Precision Marketing

Data-Driven Insights: The Power of Genetic Information in Precision Marketing

Copyright: © 2024 |Pages: 25
DOI: 10.4018/979-8-3693-2367-0.ch003
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Abstract

This chapter delves into the transformative influence of genetic information on precision marketing, exploring the opportunities and challenges it presents. Beginning with an overview of precision marketing and its evolution towards personalization, the chapter examines the types and methods of collecting genetic data for marketing purposes. It highlights the immense potential for personalized product recommendations, targeted advertising, and enhanced customer experiences. However, the exploration does not shy away from addressing the ethical considerations and challenges associated with privacy, consent, and the potential societal impact of genetic data usage. Best practices for responsible data management and compliance with evolving regulatory frameworks are discussed, ensuring a balanced approach between personalization and ethical considerations. The chapter concludes by peering into the future, exploring emerging technologies and anticipated trends that will further shape the landscape of precision marketing with genetic insights.
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2. Genetic Information In Marketing

2.1. Definition and Roll of Genetic Information in Marketing

Genetic information in marketing refers to data derived from an individual’s genetic code, encompassing traits, predispositions, and susceptibilities (Commission, 2022). This information plays a pivotal role in precision marketing by offering unprecedented insights into consumer behaviors, preferences, and health considerations (Retailer, 2021). By leveraging genetic data, marketers can tailor their strategies with unparalleled precision, delivering personalized messages that resonate on a deeper level with consumers. Understanding genetic predispositions allows for targeted product recommendations, health-related offerings, and lifestyle suggestions, enhancing the relevance and effectiveness of marketing campaigns (Reversedout, 2023). However, the integration of genetic information raises ethical considerations, requiring careful navigation of privacy concerns and transparent communication with consumers (Kisselburgh & Beever, 2022). As technology advances, the roll-out of genetic information in marketing signifies a transformative shift towards a more individualized and ethical approach, aiming to forge meaningful connections between brands and consumers.

Genetic information includes information about an individual’s genetic tests and the genetic tests of an individual’s family members, as well as information about the manifestation of a disease or disorder in an individual’s family members (i.e. family medical history) (Commission, 2022).

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