This special issue considers the roles, effects, and applications of crowdsourcing and crowdfunding. Over the past 15 years, these have been major themes for both business practitioners and academic researchers. Many organizations have adopted crowdsourcing and crowdfunding as part of their business processes, and many academics have discussed their effectiveness in various contexts. In this special issue, we include knowledge about these issues that explains phenomena in the real world using marketing theory. The four featured research articles provide excellent theoretical contributions and practical implications. We hope that this issue will advance research on crowdsourcing and crowdfunding in marketing.
Prior research has revealed critical success factors in reward-based crowdfunding, but there are some remaining issues: (1) the disparity between research findings and practice, (2) the changing crowdfunding market environment, and (3) the lack of studies on Japanese crowdfunding platforms. To address these issues, we developed hypotheses on the antecedents of a successful crowdfunding campaign, drawing on signaling theory. The hypotheses were tested by analyzing data from 336 projects retrieved from a major crowdfunding platform in Japan. The results indicate that the word length of the campaign description, inclusion of animated GIFs, and an All-in model (vs. an All-or-Nothing model) have a positive effect on successful completion of a campaign. The results also provide evidence that frequent updates on project status, inclusion of videos, and limited early birds have a positive effect on the amount of fund raising.
The hometown tax is a new tax payment scheme introduced in Japan in 2008 that aims to redistribute taxes that have tended to concentrate in urban centers such as Tokyo. This scheme has seen very rapid growth since 2015 when documents to be submitted for tax returns were made simpler. Previous studies of hometown tax have focused on case analyses, and there is a lack of development of analytical frameworks and insights into its users. Hence, this study aims to increase understanding of this scheme as donation-based and reward-based crowdfunding with users acting as donors and consumers, along with their motivations to participate. First, this research considers the motivations of donors and consumers by reviewing prior research on charitable giving and cause-related marketing. Second, a conceptual framework for understanding donors and consumers who utilize hometown tax is developed. Finally, this study indicates practical marketing implications for local governments.
While it has been proven that product development using crowdsourcing can produce highly marketable products, it continues to be a heavy burden to evaluate the large volume of user-generated ideas and to select the most attractive ones. In this study, we constructed a method that automatically measures novelty by constructing a conceptual space from crowdsourced ideas using natural language processing and calculating the rarity of opinions based on the statistical infrequency in the conceptual space. The method was applied to data obtained from a recipe submission site and the automatically measured novelty was shown to have validity in forecasting the attractiveness of recipes. The method developed in this study not only automated the evaluation of ideas, but also gave a new role as a material to construct a conceptual space for the majority of rejected ideas that had been neglected in the past, and gave these ideas new roles as the objects of research.
In recent years, growing attention has been paid to the gig economy among both practitioners and academic researchers. The Gig economy refers to socioeconomic activities involving the exchange of labor for monetary reward between gig workers and client firms, via digital platforms. How and what the impact is on firms’ activities, especially relating to product development? To the best of our knowledge, there has been no literature review dealing with this topic to date. In order to address this question, we reviewed the literature focusing on the impact of the gig economy on product development or product innovation. As a result, we identified five key themes; human resource management relating to gig workers, motivation management for gig workers, gig economy and idea generation, the roles and methods of management of digital platforms, and the roles and management of co-working spaces. Finally, relevant issues and future perspectives are discussed.
As global competition intensifies and product life cycles shorten, companies are required to achieve radical new product innovations, aside from incremental new product innovations, more frequently than ever. Radical new product innovation can be achieved by exploring new competencies and resources. Incremental new product innovation can be achieved by exploiting existing competencies and resources. Although radical new product innovations are important for companies’ survival, these radical new product innovations are difficult to achieve, due to high-risk markets and technological uncertainty. This dilemma has fueled a growing interest in the determinants of radical new product innovations among marketing and management researchers. Specifically, many marketing scholars have examined how marketing organization hinders or promotes radical new product innovations. The objective of this study is to review existing literature regarding marketing organization and radical new product innovation and to summarize its implications. Specifically, this research reviews the two research streams and draws conclusions on how marketing organizations should engage in radical new product developments. Furthermore, this study indicates several research gaps in this topic and shows directions for further research.
The purpose of this study is to analyze and clarify the mechanism of the majority of other’s influence in social media. The majority of others who don’t actively participate by posting in social media sites may express their attitudes and influence by Liking and Sharing contents. This study applies social influence research, especially social impact theory, to discuss the social influence of the majority of others. Based on the review, the paper finds that the impact of social influence becomes more complex when the majority of others exists in social media, compared with an ordinary website. The paper contributes to revealing the mechanism of the majority of others, by discussing the reasons why existing researches show different results.
Marketing can be considered to be context-setting work because the superiority of products can be secured at a low cost by using context to guide consumer perception. The compromise effect is an example of a corporate marketing measure that induces consumer cognitive bias. This effect refers to selection of the middle option by making a compromise among options provided at three levels. This characteristic is used in various industries, such as food service and automobiles. However, few studies have focused on the characteristics of high-value-added products and low-priced products within the same manufacturer brand as conditions for the appearance of a compromise effect. In this study, we examined differences in the compromise effect depending on product characteristics for web estimation of the Japanese automobile industry. As a result, it became clear that, although a compromise effect appeared for low-priced products (microcars and compact cars), it did not affect high-value-added products (SUVs and minivans). Therefore, this study shows that setting a level that matches the characteristics of each product is an important aspect of context setting.
Recent advancement of digital technologies allows marketers opportunities to access and employ more and broader types of data, AI and infrastructures in their decision making. The SBI group, who started internet financial business, established their big data analysis group under the CEO office of SBI holdings, Inc. in 2012 to make best use of such opportunities and to achieve value creation through synergies among group companies. This team developed a data analysis platform, enhanced group-wide analysis capabilities, and contributed to business growths as seen in the number of total accounts of group companies. The following five aspects were identified as success factors: An independent data analysis platform development from traditional IT management, securing resources by aiming at achieving value creation rather than system implementation, group-wide meetings to share best practices and to learn challenges among each group company, support to reform employees’ mindset to adapt to data-driven decision-making, and commitment and involvement by senior management teams to support those initiatives.
Haidilao (HDL) is the No. 1 hot pot restaurant chain in China and is also one of the most successful Chinese restaurant chains in the world. The company provides Sichuan-flavored hot pot with high-quality service. Its rapid expansion started in 2010, reaching a total of over 900 company-owned restaurants worldwide by June of 2020. The two main factors behind Haidilao’s consistent success are its corporate culture based on Chinese traditional philosophy, and an innovative incentive mechanism. Zhang Yong, the founder of the company, is one of the most famous Chinese entrepreneurs, known not only for his successful business endeavors, but also for the manner in which he treats his customers and employees. This paper gives overviews of the company’s history and qualified service, then focuses on its corporate culture and its unique incentive system. Recent issues including the management of Haidilao in the midst of the COVID-19 pandemic are mentioned in the conclusion, as well as challenges that might arise in the future.