Skip to main content
SpringerLink
Log in

Crowd-Based Business Modeling

  • Chapter
  • First Online:
Crowd-Based Business Models

  • 762 Accesses

Abstract

Advances in the Internet-based technologies and a shift in the business philosophy of companies from market-orientation to customer orientation have caused the emergence of crowd-based business models. The attributes of crowd-based business models include integration of contributors from outside the traditional boundaries of a firm, data mining through digital peer-to-peer platforms, and the transfer of value creating activities to a crowd. This chapter discusses the evolution of crowd-based business modeling and its prospects with firms operating in emerging markets in the context of crowd-engagement in businesses and deliberates on the role of various attributes of crowd-based business models. In addition, this chapter discusses marketing strategies, value chain management, and competitive leverage of firms using collective intelligence and customer-generated content.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Log in via an institution
Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 129.00
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 169.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book
USD 169.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

Notes

  1. 1.

    Extracted for the Vijaya Govindarajan’s Blog (https://www.tuck.dartmouth.edu/people/vg/research Retrieved on February 11, 2016).

References

  • Bolton, M. (2004). Customer-centric business processing. International Journal of Productivity and Performance Management., 53(1), 44–51.

    Article  Google Scholar 

  • Bughin, J. (2014, December). Three-ways companies can make co-creation pay-off. McKinsey Insight. McKinsey & Co.

    Google Scholar 

  • Cadbury, N. D. (1975). When, where and how to test markets. Harvard Business Review, 53(3), 96–105.

    Google Scholar 

  • Casadesus-Masanell, R., & Ricart, J. E. (2011). How to design a winning business model. Harvard Business Review, 89(1–2), 100–107.

    Google Scholar 

  • Chesbrough, H. (2010). Business model innovation: Opportunities and barriers. Long Range Planning, 43(2), 354–363.

    Article  Google Scholar 

  • Comstock, B., Gulat, R., & Liguori, S. (2010). Unleashing the power of marketing. Harvard Business Review, 88(10), 90–98.

    Google Scholar 

  • Dawar, N., & Bagga, C. (2015). A better way to map brand strategy. Harvard Business Review, 93(6), 90–97.

    Google Scholar 

  • De Meyer, A. (2011, September 15). Diving into the new innovation landscape. IESE-Insight Magazine.

    Google Scholar 

  • Fedorenko, I., Berthon, P., & Rabinovich, T. (2017). Crowded identity: Managing crowdsourcing initiatives to maximize value for participants through identity creation. Business Horizons, 60(2), 155–165.

    Article  Google Scholar 

  • Ferrell, L., & Ferrell, O. C. (2012). Redirecting direct selling: High-touch embraces high-tech. Business Horizons, 55(3), 273–281.

    Article  Google Scholar 

  • Gourville, J. T. (2006). Eager sellers and stony buyers: Understanding the psychology of new-product adoption. Harvard Business Review, 84(6), 98–106.

    Google Scholar 

  • Govindarajan, V. (2012). A reverse innovation playbook. Harvard Business Review, 90(4), 120–124.

    Google Scholar 

  • Govindarajan, V., & Trimble, C. (2005). Building breakthrough businesses within established organizations. Harvard Business Review, 83(5), 58–68.

    Google Scholar 

  • Hargadon, A., & Sutton, R. I. (2001). Building an innovation factory. Harvard Business Review, 78(3), 157–166.

    Google Scholar 

  • Iansiti, M., & Lakhani, K. R. (2014). Digital ubiquity: How connections, sensors, and data are revolutionizing business. Harvard Business Review, 92(11), 90–99.

    Google Scholar 

  • Kanter, R. M. (2011). How great companies think differently. Harvard Business Review, 89(11), 66–78.

    Google Scholar 

  • Kirchherr, J., Reike, D., & Hekkert, M. (2017). Conceptualizing the circular economy: An analysis of 114 definitions. Resource Conservation and Recycling, 127(2), 221–232.

    Article  Google Scholar 

  • Klompmaker, J. E., Hughes, G. D., and Haley, R. I. (1976). Test marketing in new product development. Harvard Business Review, 54(3), Business Review products and competitive strategies of rival firms 128–138.

    Google Scholar 

  • Kohler, T. (2015). Crowdsourcing-based business models: How to create and capture value. California Management Review, 57(4), 63–84.

    Article  Google Scholar 

  • Kohli, C., & Suri, R. (2011). The price is right? Guidelines for pricing to enhance profitability. Business Horizons, 54(6), 563–573.

    Article  Google Scholar 

  • Marques, D. P., Guijarro, M., & Carrilero, A. (2016). The use of customer-centric philosophy in hotels to improve customer loyalty. Journal of Business and Industrial Marketing, 31(3), 339–348.

    Article  Google Scholar 

  • McDonough, E. F., Zack, M., Lin, H. E., & Berdrow, I. (2008). Integrating innovation style and knowledge into strategy. Sloan Management Review, 50(1), 53–58.

    Google Scholar 

  • Oakley, J. (1996),.Varietirs of virtue ethics. Ratio, 9(1), 128–152.

    Google Scholar 

  • Paul, O. (1996). High Tech NPD success through faster overseas launch. European Journal of Marketing, 30(8), 75–91.

    Article  Google Scholar 

  • Pfeifer, P. E. (1999). On the use of customer lifetime value as a limit on acquisition spending. Journal of Database Marketing, 7(1), 81–86.

    Google Scholar 

  • Porter, M. E., & Heppelmann, J. (2014). How smart, connected products are transforming competition. Harvard Business Review, 92(11), 64–88.

    Google Scholar 

  • Prahalad, C. K., & Ramaswamy, V. (2000). Co-opting customer competence. Harvard Business Review, 78(1), 79–87.

    Google Scholar 

  • Rajagopal. (2012). Darwinian fitness in the global marketplace. Palgrave Macmillan.

    Google Scholar 

  • Rajagopal. (2013). Managing social media and consumerism: The grapevine effect in competitive markets. Palgrave Macmillan.

    Book  Google Scholar 

  • Rajagopal. (2016). Innovative business projects: Breaking complexities, building performance (Vol. 1)-fundamentals and project environment. Business Expert Press.

    Google Scholar 

  • Rajagopal. (2019). Contemporary marketing strategy: Analyzing consumer behavior to drive managerial decision making. New York: Palgrave Macmillan.

    Google Scholar 

  • Rajagopal. (2020). Transgenerational marketing: Evolution, expansion, and experience. Palgrave Macmillan.

    Book  Google Scholar 

  • Rajagopal, & Sanchez, R. (2005). Analysis of customer portfolio and relationship management models: Bridging managerial gaps. Journal of Business and Industrial Marketing, 20(6), 307–316.

    Google Scholar 

  • Raghubir, P., Inman, J. J., & Grande, H. (2004). Three faces of consumer promotions. California Management Review, 46(4), 23–42.

    Article  Google Scholar 

  • Rashid, A., Asif, F. M. A., Krajnik, P., & Nicolescu, C. M. (2013). Resource conservative manufacturing: An essential change in business and technology paradigm for sustainable manufacturing. Journal of Cleaner Production, 57, 166–177.

    Article  Google Scholar 

  • Raymond, B. R. (1996). Virtual shopping: Breakthrough in marketing research. Harvard Business Review, 74(2), 120–131.

    Google Scholar 

  • Ritzer, G. (2014). Prosumption: Evolution, revolution, or eternal return of the same? Journal of Consumer Culture, 14(1), 3–24.

    Google Scholar 

  • Rust, R. T., Zeithaml, V. A., & Lemon, K. N. (2004). Customer centered brand management. Harvard Business Review, 82(9), 110–118.

    Google Scholar 

  • Silvestro, R. (2016). Do you know what really drives your business’s performance? MIT Sloan Management Review, 57(4), 28–34.

    Google Scholar 

  • Stabell, C. B., & Fjeldstad, O. D. (1998). Configuring value for competitive Advantage: On chains, shops, and networks. Strategic Management Journal, 19(5), 413–437.

    Article  Google Scholar 

  • Thompson, J. D. (1967). Organizations in action: Social science bases of administrative theory. McGraw Hill.

    Google Scholar 

  • Van Alstyne, M. W., Parker, G., & Choudary, S. P. (2016). Pipelines, platforms, and the new rules of strategy. Harvard Business Review, 94(4), 54–62.

    Google Scholar 

  • Verganti, R. (2011). Designing breakthrough products. Harvard Business Review, 89(10), 114–120.

    Google Scholar 

  • Williamson, P. J., & Zeng, M. (2009). Value-for-money strategies for recessionary times. Harvard Business Review, 87(3), 66–74.

    Google Scholar 

Download references

Author information

Authors and Affiliations

  1. EGADE Business School, Tecnologico de Monterrey, Mexico City, Mexico

    Rajagopal

Authors
  1. Rajagopal
    View author publications

    You can also search for this author in PubMed Google Scholar

Corresponding author

Correspondence to Rajagopal .

Rights and permissions

Reprints and permissions

Copyright information

© 2021 The Author(s), under exclusive license to Springer Nature Switzerland AG

About this chapter

Check for updates. Verify currency and authenticity via CrossMark

Cite this chapter

Rajagopal (2021). Crowd-Based Business Modeling. In: Crowd-Based Business Models. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-77083-9_3

Download citation

Publish with us

Policies and ethics

Search

Navigation