Question

Chad, a marketing manager, wants to find out what kind of products customers like and how they feel about his company. To gather inputs from customers, he tries to engage them through online contests on social networking sites. These contests ask customers to come up with new taglines for the company or suggest product improvements. In this scenario, Chad is engaging in _______________

Answer 1

In these competitions, customers are urged to suggest brand-new taglines or product enhancements. Chad is using crowdsourcing in this instance.

Crowdsourcing: What is it?

Crowdsourcing is the process of asking a large number of individuals for the information, goods, or services that are required. Author Jeff Howe coined the term "crowdsourcing," which mixes crowds and outsourcing, in his essay "The Rise of Crowdsourcing" from Wired magazine in 2006.

What are the four different types of crowdsourcing?

Following are the four main categories of crowdsourcing:

In this section, we'll go into greater detail regarding each of them.

• The crowd's wise counsel.
• Forming of a crowd.
• a public vote
• Crowdfunding.

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