This term is used to describe how organizations began leveraging internet users to outsource tasks.
Over the years, the notion has been defined in a variety of ways with specific application to business, government, and nonprofit organizations' innovation effort.
Examples: Waze (an app where users can report traffic jams and gives directions for the best route) and Airbnb (a travel website where individuals can let out their homes)
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Many crowdsourcing platforms have adopted interdependent ideation where customers can be exposed to or inspired by other peoples' ideas when defining their own.
However, it showed that a high level of interconnectivity can negatively impact innovativeness among ideas produced.
A recent research study showed that labeling new products as "crowdsourced" can improve market performance because consumers believe that crowdsourced products are addressed to their needs.
Moreover, consumers prefer consumer-designed products (depending on the context). C...
Crowdsourcing has become an essential instrument in every marketer’s toolbox, and recent research provides guidance for how firms can best use the strategy. Managers should ensure that the crowd is heterogeneous so consumers truly benefit from finding each other’s ideas inspirational rather than competitive.
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