Internet of Things: Convenience vs. privacy and secrecy

In this article we introduce the Internet of Things to the broad managerial community and explore one of its central tensions: convenience vs. privacy and secrecy. We clarify the ways in which IoT differs from Web 2.0 and then highlight opportunities, challenges, and managerial guidance. In addition, we explore the prominent issue of privacy and secrecy. Due to substantial increases in amounts of consumer-related data and their accessibility as well as potential tradeoffs in benefits associated with IoT and in properties of humanness associated with the consumer experience, the managerial issue of privacy is elevated to a level never before realized—perhaps on par with, or worthy of inclusion as an element of, the classic marketing mix.