CC BY
1УДК 33 Mahtymova M., Kochayeva A., Bashliyev A.
Mahtymova M.
Teacher of the Department of Economic management in enterprises Turkmen State Architecture and Construction Institute (Ashgabat, Turkmenistan)
Kochayeva A.
Teacher of the Department of Economic management in enterprises Turkmen State Architecture and Construction Institute (Ashgabat, Turkmenistan)
Bashliyev A.
Student Faculty of Economics and Management Turkmen State Architecture and Construction Institute (Ashgabat, Turkmenistan)
ECONOMICS OF TRUST: THE ROLE OF
SOCIAL NETWORKS IN BUILDING MARKET RELATIONS
Аннотация: this article explores the role of social networks in fostering trust-based market relations, focusing on how digital reputation, transparency, and influencer marketing shape modern business dynamics. It also highlights the challenges of misinformation and data privacy concerns, as well as the opportunities for businesses to enhance customer experience and strengthen corporate reputation in the digital age.
Ключевые слова: trust economy, social networks, market relations, digital reputation, influencer marketing, transparency.
In the digital economy, trust is vital for successful market interactions. Social networks play a key role in building trust between consumers and businesses, shaping how brands are perceived and influencing market dynamics. Key Impacts of Social Networks on Market Relations. Digital Reputation: Positive online reviews and active engagement foster trust and consumer loyalty.
Transparency: Easy access to information increases consumer confidence in making decisions.
Influencer Marketing: Opinion leaders create trust through recommendations and promote brand value.
Challenges and Risks.
Misinformation: Fake reviews and false information can harm consumer trust. Data Privacy: Breaches in social networks can lead to a loss of trust and damage to brand reputation.
Opportunities for Businesses.
Improving Customer Experience: Quick and personalized responses enhance trust and satisfaction.
Strengthening Reputation: Transparent communication and responsible behavior on social media build long-term trust with consumers.
Social networks are a powerful tool in shaping the trust economy, offering businesses opportunities to strengthen customer relationships and build competitive advantages. However, they must manage the risks of misinformation and privacy concerns to maintain trust.
СПИСОК ЛИТЕРАТУРЫ:
1. Goleman, D. (1995). Emotional Intelligence. Bantam Books;
2. Fukuyama, F. (1995). Trust: The Social Virtues and the Creation of Prosperity. FrPress
