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The wisdom of the crowd
According to research conducted by a professor at Vienna University of Economics and Business, labeling a product that was created through crowdsourcing can boost its performance in the market by as much as 20pc. The climbing-shoe brand Red Chili, for example, advertises its crowdsourced products with the slogan ‘Only climbers know what climbers need’.
Published in Dawn, Business & Finance weekly, November 28th, 2016
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