In the business world there must be certain checks and balances in place that ensure that the open marketplace maintains its integrity. One of these mechanisms that directly relate to my chosen field of business is a nonprofit organization called the Better Business Bureau. The Better Business Bureau was founded in 1912 and consists of over one-hundred and twenty independently incorporated local organizations throughout the United States and Canada. The purpose of this organization is to ensure that the marketplace remains ethical so that consumers and sellers of consumer goods and services can establish trust.
The Better Business Bureau collects data on a particular business’s reliability, alerts the buying public to potential fraud, provides invaluable insight into a business’s ethical business practices, and acts as arbitrators between consumers and business disputes. Companies that meet and maintain the Better Business Bureau’s ethical standards may be invited to obtain membership with the organization. Becoming a member of the Better Business Bureau has the benefit of having an additional selling point to advertise to potential consumers because the Better Business Bureau is revered for honesty and trustworthiness.
A high rating from the Better Business Bureau could potentially be the force needed to induce a consumer to purchase your products or services. Companies become members with the Better Business Bureau because the marketplace has more potential to flourish if the consumers trust the businesses that want to serve them. Also, alignment with the Better Business Bureau has the benefit of demonstrating to consumers a business’s commitment to a conducting business in a trustworthy marketplace.
Third, members of the Better Business Bureau have the opportunity to network with those in industries similar to their own and attract people from all over the United States. Finally, members get absolute access to any and all of this organization’s services and information. Members get all of the latest news and information about the Better Business Bureau as well as industry specific insider information. As a potential marketer, it would be imperative for someone to recommend that businesses seek to obtain Better Business Bureau membership status.