Crowdsourcing: Leveraging Innovation through Online Idea Competitions
Journal
Research technology management
ISSN
0895-6308
ISSN-Digital
1930-0166
Type
journal article
Date Issued
2012-05-01
Author(s)
Abstract
Along with other Web 2.0 market intelligence tools, online idea competitions can provide essential input for decision making in the early phases of product innovation. However, in order to use online competitions effectively, it is essential to know when to use which method, how to use it, and to what extent virtual and conventional research techniques can be used interchangeably or complementarily. A first step toward assessing the power of Web 2.0 techniques is to compare them with traditional ones. We compare the expense and results of online idea competitions with focus groups for idea generation in the market for senior citizen mobile phones and services. We find that idea competitions lead to more and better ideas at a lower cost per idea, while focus groups yield richer interactions with users.
Language
English
HSG Classification
not classified
HSG Profile Area
SoM - Business Innovation
Refereed
Yes
Publisher
Industrial Research Inst.
Publisher place
Arlington, VA
Volume
55
Number
3
Start page
32
End page
38
Pages
7
Subject(s)
Division(s)
Eprints ID
236463