Assignment:
Marketing Ethics Octopus Affair
In Hong Kong, Octopus handles around 11 million electronic financial transactions per day. In 2010, it found itself embroiled in a controversy involving the resale of customer’s details to third parties. Octopus’s CEO, Prudence Chan, initially denied that personal data was being sold to third parties for direct marketing exercises. When she was questioned again, she claimed that she had not had access to critical information at the time. It was later revealed that Octopus had netted HK$44 million (about $5.68 million) over a period of four and half years in the resale of personal data belonging to 1.97 million customers. There were immediate calls for Octopus’s monopoly to be broken and for there to be greater transparency in handling the personal data of customers.
Your answer must be, typed, double-spaced, Times New Roman font (size 12), one-inch margins on all sides, APA format and also include references.