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1.1.2.2 Crowdsourcing/Crowdfunding

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Crowdsourcing is similar in principle to cloud computing technology, but it focuses on gathering many people to address challenges more effectively or complex problems via the Internet rather than servers. Whether to produce a new solution by brainstorming or to raise funds (also known as crowdfunding) for a specific project, crowdsourcing has already become a non-negligible social phenomenon and a business tool. Crowdsourcing in nature has pushed new business models to grow, by which individuals or organizations create new ideas and produce more competitive products and services in a more effective and low-cost way.

Crowdsourcing has even left an impact on the publishing industry. The industry used to be a typical vertical production system, from writing to ISBN, from publishing to marketing. But now these vertical systems can operate in a “flat” way, which means that marketing for the 4Ps (products, price, placement, promotion) can be done in the meantime. Now many chapters of a book can be made available on the Internet for reading, commenting and criticizing. During this process, fans can be attracted and works can be improved. By digital means, crowdsourcing is a tool with infinite potential since the focus of the public can be detected and efficient solutions can be provided at low costs.

Massive online open courses (MOOCs) are changing the business model of higher education by crowdsourcing education. The traditional model of higher education is highly crammed and students need to pay increasingly higher cost to learn rigid lessons. The new way of online learning encourages free interactions and an open exchange of information. It is students who have the freedom to choose courses rather than schools. MOOCs provides better education that is more efficient, more cooperative and cheaper. Besides its influence on education, MOOCs also influence businesses. For example, organizations can obtain a wide range of high-quality online training courses by remote access, offering constant training for their employees at a more reasonable cost. Using MOOCs, with only a computer, an employee can access the courses and services of a renowned university professor. Enterprises and staff should co-draft the most efficient curricular plans to realize both personal and organizational goals. Many leading MOOC platforms encourage students to socialize and have a deeper understanding by digital cultures. In the foreseeable future, online education platforms can help colleges and universities to focus on their educational areas of expertise in clear and concise ways.

Marketing Strategy In The Digital Age: Applying Kotler's Strategies To Digital Marketing

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