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Abstract
Using the Internet to carry out their schemes, fraudsters now have access to the consumers of the world as well as the potential to destroy the image of an entire country. One particular type of Internet fraud, known as the Nigerian money fraud, has become associated with that nation, damaging the brand equity of the country and its region, Africa. The purpose of this article is to discuss the impact that the electronic version of the Nigerian money fraud may have had on the brand equity of Nigeria and Africa and what steps can be taken to diminish these negative effects.
Introduction
With new technology and the explosive growth of the Internet, fraudulent schemes, scams, and con artists have found new outlets. Internet fraud has become a major concern for consumers, merchants, and governments alike. "Illegal Internet schemes and deceptive spam do not stop at state lines or international borders," said J. Howard Beales III, Director of the FTC's Bureau of Consumer Protection (International Netforce Launches Law Enforcement Effort, 2002). This creates an international problem for those victimized either by con artists from another country or con artists using other countries as an identity. Cities, countries, and regions have to compete with each other in the global marketplace: for tourism, for investment, for aid, for buyers of their products and services, and for talent. The brand equity of a country or region, which heavily involves consumers' individual impressions, can have a profound impact on how people consider those entities and whether or not they will buy products or services that originate from within them (Anholt, 2000). The purpose of this article is to consider, from a marketing perspective, the impact of one particular type of Internet fraud, known as the Nigerian money fraud, on the brand equity of Nigeria and Africa. This article describes the Nigerian money fraud, defines and discusses the basic principles behind brand equity, and utilizes this conceptual framework for assessing the impact of this particular Internet fraud on the brand equity of Nigeria and Africa. This article will also identify methods, using a brand equity strategy, that may improve the equity of Nigeria and Africa in light of the current scams in order to create positive benefits for both...