Fake News in Marketing

Abstract

Fake news was conventionally assumed to mean fabricated information published in newspapers and other mass media. It was mostly done to increase the paper's sales and was unlikely to have long-term impacts on society. Fake news in marketing concerns intentionally delivering false or misleading information regarding a product or service to influence consumer behavior. Despite the severity of these impacts, we noted that there is very little scientific research on fake news in marketing and consumer behavior. This systematic literature review (LRSB) aims to bridge this knowledge gap by searching and analysing relevant publications on "fake news in marketing" and synthesising data from 117 relevant studies, providing a framework for marketers and business leaders to reduce the spread and impact of online misinformation. The main highlights identify that the implementation and use of social media, shaping a presence on the internet, diffusion, and consumption of fake news have become a serious challenge and a dominant problem in the marketing sector, especially with the growth of digital marketing. Strategically, fake news spread can be categorized into various types, and the use of these tactics can produce short-term benefits such as increased engagement and instant sales, but they can also have severe long-term costs such as reputational damage, loss of revenues and market share, and discouraged investors and shareholders.