Economic and legal conceptual framework of viral marketing

Abstract

Electronic and online communications are modern, and perhaps the most common form of communication between individuals and legal entities, and thus have become one of the most used ways of market communication. Viral marketing is evolving into the dominant form of marketing and exchange of information for the purpose of advertising, promoting, or achieving other goals. In this paper we present and analyse the phenomenon of viral marketing-its purpose, effects, and power of influence, and discuss it in terms of ethical and legal standards. Special emphasis is placed on the right to privacy and personal data protection, harassment, acting in good faith and in accordance with good business practices, the presentation of false or fraudulent information. The advantages and disadvantages of this type of marketing activity have been observed.