Starjournal Quotation Simpson, Bonnie, Schreier, Martin, Bitterl, Rosalia, White, Katherine. 2021. Making the world a better place: How crowdfunding increases consumer demand for social-good products. Journal of Marketing Research (JMR). 58 (2), 363-376.


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Abstract

Crowdfunding has emerged as an alternative means of financing new ventures wherein a large number of individuals collectively back a project. This research specifically looks at reward-based crowdfunding, where those who take part in the crowdfunding process receive the new product for which funding is sought in return for their financial support. This work illustrates that consumers make fundamentally different decisions when considering contributing their money to crowdfund versus purchase a product. Six studies demonstrate that compared to a traditional purchase, crowdfunding more strongly activates an interdependent mindset and, as a result, increases consumer demand for social-good products (i.e., products with positive social and/or environmental impact). The research further highlights that an active involvement in the crowdfunding process is necessary to increase demand for social-good products: When a previously crowdfunded product is already to market, the effect is eliminated. Finally, it is demonstrated that crowdfunding participants exhibit an increased demand for social-good products only when collective efficacy (i.e., one’s belief in the collective’s ability to bring about change) is high.

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Publication's profile

Status of publication Published
Affiliation WU
Type of publication Journal article
Journal Journal of Marketing Research (JMR)
Citation Index SSCI
WU Journalrating 2009 A+
Starjournal Y
Language English
Title Making the world a better place: How crowdfunding increases consumer demand for social-good products
Volume 58
Number 2
Year 2021
Page from 363
Page to 376
Reviewed? Y
URL http://journals.sagepub.com/doi/pdf/10.1177/0022243720970445
DOI http://dx.doi.org/10.1177/0022243720970445
Open Access N

Associations

People
Schreier, Martin (Details)
Bitterl, Rosalia (Former researcher)
White, Katherine (Former researcher)
External
Simpson, Bonnie (Western University, Canada)
Organization
Institute for Marketing Management IN (Details)
Marketing DP (Details)
Research areas (ÖSTAT Classification 'Statistik Austria')
5320 Marketing (Details)
5350 Innovation research (Details)
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