Identifying challenges in crowdfunded product development: a review of Kickstarter projects. (23rd October 2018)
- Record Type:
- Journal Article
- Title:
- Identifying challenges in crowdfunded product development: a review of Kickstarter projects. (23rd October 2018)
- Main Title:
- Identifying challenges in crowdfunded product development: a review of Kickstarter projects
- Authors:
- Jensen, Lasse Skovgaard
Özkil, Ali Gürcan - Abstract:
- Abstract : This paper provides an empirical review of the reward-based crowdfunding platformKickstarter.com, with the aim to explore and identify challenges in crowdfunded product development, which consequently can lead to failure of the crowdfunding campaign. The review was based on the analysis of a total of 144 successfully funded 'technology' campaigns, which all concerned the creation of physical consumer hardware preordered by campaign backers. The analysis was built around a failure mode model, which was established through a pre-study. The study reveals that (i) no more than 32% of the campaigns managed to deliver the crowdfunded products on time, and, if campaigns are delayed, (ii) there is a significantly higher probability that the delivered products might lack expected attributes. The causes for delay have many reasons, but (iii) a set of particular product development issues were identified as the main challenges. A better understanding of crowdfunded product development can help researchers and practitioners to better understand and utilize the opportunities of this new product development paradigm.
- Is Part Of:
- Design science. Volume 4(2018)
- Journal:
- Design science
- Issue:
- Volume 4(2018)
- Issue Display:
- Volume 4, Issue 2018 (2018)
- Year:
- 2018
- Volume:
- 4
- Issue:
- 2018
- Issue Sort Value:
- 2018-0004-2018-0000
- Page Start:
- Page End:
- Publication Date:
- 2018-10-23
- Subjects:
- product development, -- crowdfunding, -- Tech. entrepreneurship
Design -- Research -- Periodicals
New products -- Management -- Periodicals
Design
Design -- Research
Electronic journals
Periodicals
658.5752 - Journal URLs:
- http://journals.cambridge.org/action/displayJournal?jid=DSJ ↗
http://journals.cambridge.org/action/displayBackIssues?jid=DSJ&tab=backissue ↗ - DOI:
- 10.1017/dsj.2018.14 ↗
- Languages:
- English
- ISSNs:
- 2053-4701
- Deposit Type:
- Legaldeposit
- View Content:
- Available online (eLD content is only available in our Reading Rooms) ↗
- Physical Locations:
- British Library HMNTS - ELD Digital store
- Ingest File:
- 7968.xml