As an Amazon Associate I earn from qualifying purchases.

Crowdsourcing Definition and Explanation PDF Download

Learn Crowdsourcing definition in marketing with explanation to study “What is Crowdsourcing”. Study crowdsourcing explanation with marketing terms to review marketing course for online MBA programs.

Crowdsourcing Definition:

  • Inviting broad communities of people - customers, employees, independent scientists and researchers, and even the public at large - into the new-product innovation process.

    Principles of Marketing by Philip T. Kotler, Gary Armstrong



Crowdsourcing Explanation:

Crowd sourcing is a technique in which individuals or groups gather goods and services; it can be ideas, finance, and workforce from a large evolving group of internet users in order to obtain improved output. Crowdsourcing and outsourcing is completely distinguished between them. Crowdsourcing is often derived from more general public group. Whereas, outsourcing describes more specific, competent group.

Keep Learning Marketing Explanations

What is Elimination-by-Aspects Heuristic?

According to elimination by aspect method, it is a decision making technique in which customers have multiple options in order ...

What is Cultural Environment?

A cultural environment is a set pattern of beliefs, tradition, customs, norms, and practices which are similar to the people ...

What is Customer Perceived Value?

It is a concept commonly used in marketing describes the satisfaction level of customer with a product or services provided ...

What is Sales 2.0?

Sales are exercises identified with selling or the quantity of merchandise or administrations sold in a given time span. The ...

What is Profitable Customer?

Recognizing beneficial clients is basic to a business' prosperity. Regularly I get notification from monetary pioneer "I don't have to ...

What is Core Benefit?

It is company's core product which is directly related to its essential competencies. The core product is considered to be ...