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Seeking funding in order to sell: Crowdfunding as a marketing tool
KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.). Luleå University of Technology, Luleå, Sweden. (Industrial Marketing and Entrepreneurship)
2017 (English)In: Business Horizons, ISSN 0007-6813, E-ISSN 1873-6068, Vol. 60, no 2, p. 189-195Article in journal (Refereed) Published
Abstract [en]

Websites such as Indiegogo and Kickstarter have attracted much attention for their ability to enable organizations and individuals to raise funds from ordinary people who contribute for a number of reasons. This phenomenon is called crowd- funding. Crowdfunding permits organizations and individuals to obtain investments they otherwise might not receive from more traditional sources such as banks, angel investors, and stock markets. A number of now well-known startups had their origins in crowdfunding. More recently, established organizations have begun to use crowd- funding websites not only as a source of finance, but also as marketing platforms. In this way, they have been able to ensure a ready market for their new offerings, with full sales pipelines, and to use the platforms as vehicles to boost brand image and gain support for brand-related causes. This adaptation of crowdfunding for marketing purposes is not without its problems, however, and organizations would be well advised to consider not only the opportunities these platforms provide, but also their limitations

Place, publisher, year, edition, pages
Elsevier, 2017. Vol. 60, no 2, p. 189-195
Keywords [en]
crowdfunding, crowdsourcing, marketing
National Category
Business Administration
Research subject
Business Studies
Identifiers
URN: urn:nbn:se:kth:diva-218401DOI: 10.1016/j.bushor.2016.11.004ISI: 000398009000005Scopus ID: 2-s2.0-85010704977OAI: oai:DiVA.org:kth-218401DiVA, id: diva2:1160764
Note

QC 20171206

Available from: 2017-11-28 Created: 2017-11-28 Last updated: 2017-12-06Bibliographically approved

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Publisher's full textScopushttp://dx.doi.org/10.1016/j.bushor.2016.11.004

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CiteExportLink to record
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  • apa
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Output format
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