This website uses cookies to ensure you have the best experience. Learn more

Crowdsourcing Essay

802 words - 4 pages

Crowdsourcing
In this information age and the emergence of social media, marketers are turning to crowdsourcing. Jeff Howe coined the word “crowdsourcing” in 2006 to label the practice of business issuing an open call to a wide community to solve a problem using either corroboration or competition. Today, companies commonly crowdsource when they outsource tasks performed by an employee, to a large group of individuals or crowd. Crowdsourcing uses the collective ideas and knowledge of the public to complete business tasks that a company would normally perform itself or outsource to a third party. Large companies like Amazon, Netflix and Wikipedia utilize crowdsourcing but it is just as ...view middle of the document...

Crowdsourcing allows business to hire and layoff staff to accommodate each job or reflect the economy. The overhead for crowdsourcing is low and businesses only pay if an idea is chosen, eliminating benefits and vacation hours.
Crowdsourcing connects business to consumers and allow them to know what their customers want. Crowdsourcing can reduce test groups and business is able to reach to their target audience directly. Business are able to ask their consumers their input in what they like about their product or service making their businesses marketing more effective. Lego made it possible for its customers to be able to develop their own LEGO designs. If the design gathers 10,000 supporter it will then be reviewed and possibility produced and sold by LEGO in their stores and catalogues. This reduced LEGO research costs and customer feel connected to the company.
There are many uses of Crowdsourcing as a marketing tool. Crowdsourcing is an opportunity for designers to get some usability feedback on their work before making it public. An example would be a new company placing a competition to pick the company’s logo. It can create buzz even from the grassroots like Starbucks. “My Starbucks Idea” was developed to allow customer to online engage, feedback and allow voting on idea proposals and suggestion, resulting in some changes in Starbucks business practices. Opening up to crowdsourcing allows for the discovery of unknown talent that has not yet been discovered. Many talented individuals fly under industry radar and posting a contest...

Other Papers Like Crowdsourcing

Threadless Case Essay

803 words - 4 pages The Community Driven business model, or “Crowdsourcing,” is a relatively new, web-based model that harnesses the creative solutions of a distributed network of individuals. One of the benefits of web 2.0. This idea was first proposed by Jeff Howe and Mark Robinson in the June 2006 issue of Wired magazine: Simply defined, crowdsourcing represents the act of a company or institution taking a function once performed by employees and outsourcing it

Current Event Essay

692 words - 3 pages Michelle nguyen IBM 307 Professor Bryant October 16, 2014 Current event: Breast Cancer Awareness The type of sales promotion taking place is consumer sales promotion. DBB Singapore is also using a type of crowdsourcing. The Breast Cancer Foundation has hired DBB Singapore as their advertising agency to deliver their new design for awareness against breast cancer. Since October is the month for breast cancer awareness, DBB Singapore thought

Rothaermel Exercise 1

1770 words - 8 pages and business models look toward a firm’s future and are both essential in decision-making within a company. A firm’s strategy and business model working hand in hand becomes the nuts and bolts behind how a firm intends to achieve its overall goal, which is to make and increase profit. Discussion Question 1.2 (3 part to this question): 1.2a. Crowdsourcing is defined as “the practice of obtaining needed services, ideas, or content by soliciting

Disruptive Innovation: a New Era of Crowdsourced Data Analytics!

1591 words - 7 pages drastic decrease in the cost of analytics for companies long with the flexibility to get the problem solved anytime with much less effort. In short, it’s not just crowdsourcing that is the novelty of the concept, but the manner in which it is put to use that steals the show. Abstract: The existing business paradigm of data analytics is set for a transformation. Today, companies are experimenting to replicate the “Outsourced data analytics” model to

Business Communication

4213 words - 17 pages to pay for the major renovations you undertook to modernize the building. Discuss whether it is appropriate for your business to engage in crowdsourcing in an attempt to save it from bankruptcy. If so, how should you appeal to online users for help? If not, what alternate ways could you appeal to online users to help save your business? Correctly refer to course skills, concepts, and issues. Discuss what others can learn from your approach to

New Media

2591 words - 11 pages innovation, brand building and marketing / communications. Why brandgagement? Business leaders believe that their stakeholders, consumers, employees and influencers have valuable insights, and crowdsourcing people’s insights are one of the main drivers for leading innovation and change. We have a significant body of knowledge on crowdsourcing: including business rationale, application areas, best practices and case studies. We have seen dedicated

The World of Penises

677 words - 3 pages sight Virtual Goods: good such as online currency or online art that have no physical properties Crowdsourcing: non-paid internet users working on a project Recommendation Engines: programs that track likes and dislikes and provide suggestions Longtail Economics: overcoming the 80/20 rule that says only 20% of products sell 3. Porter’s Five Forces Model - Evaluation of Attractiveness and Competitive Pressures e. Buyer Power: when

Small Business Start-Up Checklist

1053 words - 5 pages business as well as the state that you will be operating in have different requirements for registering that name. Resources for business naming: · The SBA's page on registering a business name · Free business name generators: • BizNameWiz • WordLab • WriteExpress • NameStation • Company Name Generator · Crowdsourcing a business name *Apply for an Employer Identification Number (EIN) If you register your business as a Corporation, LLC

Marketing

712 words - 3 pages enquêtevragen a/ Bespreek per vraag de problemen met deze enquêtevraag (meerdere problemen met deze vraag zijn mogelijk). Bespr b/ herformuleer de vraag naar een goede enquêtevraag i/ “Behoort u tot de middenklasse of de hogere sociale klasse?” ii/ “Vindt u dat we beter een andere oplossing kunnen bedenken voor de verkeersveiligheid in onze straat dan de huidige oplossing (namelijk fietspad, verkeersdrempels, rond punt)?” iii/“Is crowdsourcing

Marketing

812 words - 4 pages  relationships,  crowdsourcing, social networking, and consumer­generated marketing.  to Enhance Your Learning      3   The enhanced­learning design of the book features annotated, illustrated chapter­ opening vignettes to  introduce key chapter concepts. For each chapter, the Objectives Outline shows what students will need to  know and where to find it. The end­of­ chapter Reviewing Objectives and Key Terms summary tie back to  the chapter

Singapore Fashion Industry

2142 words - 9 pages next stage of mobile innovation * May 14 - May 16 Singapore Innovfest 2013 brings you three days of innovation and enterprise-related activities * May 20 - May 21 China China's #1 Tech Conference, CHINICT returns with its 9th edition * Jun 1 - Jun 2 Singapore Code out your winning idea at AngelHack Singapore * Jun 3 - Jun 7 Singapore Crowdsourcing Week Singapore champions crowdsourcing, open innovation

Related Essays

Crowdsourcing Essay

1747 words - 7 pages “Developing business and social innovation through creativity and foresight methods" – Crowdsourcing Abstract Crowdsourcing has been around for many years in different forms, but since 2006, it is being increasingly adopted as a creativity technique for development of ideas and problem solving. This essay looks at the history and extant of crowdsourcing and analyses its different types in terms of value creation, along with the typology of

Crowdsourcing Essay

1111 words - 5 pages Crowdsourcing: A better mousetrap or another trick? The art of gathering information for a prospective product has long been a tedious task of advertisers, manufactures, and entertainment producers since the inception of advertising. It was realized that if a company could figure out what consumers wanted or needed they could tailor their products or services to them and save money from making things no one wanted. However, to do this

Crowdsourcing For Radio Essay

1283 words - 6 pages fact, very few programming directors would let go the reigns on their station content in exchange for complete lack of control. However, this is not a mirage any more. It’s now possible with crowdsourced radio. The Oxford dictionary defines crowdsourcing as obtaining (information or input into a particular task or project) by enlisting the services of a number of people, either paid or unpaid, typically via the Internet. Crowdsourcing is not

Avoid The Crowd Essay

1591 words - 7 pages or right for everyone (or anyone). Today’s tactic du jour that I hope to never hear about again: Crowdsourcing. Before we go any further, I want to say what crowdsourcing is not. Crowdsourcing is not a blanket term used to define the many ways companies are able to actively and appropriately engage with their customers. Asking folks who own your product to submit videos about the unique ways in which they use it is not crowdsourcing. Nor is asking