Information asymmetry and the effectiveness of marketing communications on health-oriented food market

Abstract

The paper presents the results of research on the relationship between the consumers’ knowledge and the effectiveness of marketing communications on the health-oriented food market. Effective marketing communication should minimize the information asymmetry. The study is primarily related to communication through packaging. The following hypothesis was formulated: the more a consumer knows about food, the more likely they are to look for the information on the product packaging. We assume that the consumers’ search for information leads to equalizing the level of knowledge between the consumer and the producer, and thus contributes to the reduction of information asymmetry. Moreover, if the consumer knows more about food, they are less susceptible to manipulation used in marketing communications. Misleading messages or claims increase information asymmetry between producers and consumers, but a well-informed consumer will not believe in any misleading information provided by the manufacturer.