LO2 Understand crowd funding and crowd sourcing

crowd funding and crowd sourcing

What is crowd funding?

Crowd funding is where a creator pitches a product online giving a product as well as a Target which must be reached before the product can be made. This method of unding takes advanage of he global reach that new projects have due to onlie technoligy bein avalible around he world.



What is Crowd sourcing?

Crowd sourcing is where a creator gains the personnel and equipment necessary for the production of their project via the Internet which allows them to connect with people all around the world who suit the needs of their projects via globalism.

What is Globalisation?

Is the process of international integration arising from the interchange and exchange and exchange of products, ideas, politics and in particular pop culture.
Globalisation is also seen as a way in which international boundaries that  once existed are broken down by the advent of new technologies.

Two great examples of globalisation is the migration of food chains such as Starbucks and McDonald's to countries like India and China as well as the increased popularity of Indian Bollywood as well as Japanese Anime in countries in the west.

When a product has the potentially to reach a new audience (the equipment and budget) then this is called the projects "global reach." Products now have a much larger global reach due to the advent of the internet and particularly You tube in terms of media products.

Global village:
Global village is the idea that physical boundaries between countries owing to new media technologies and that because of this the world is now one big village. This theory was devised by Marshall McLuhan.

Kick starter

Kickstarter is a website that allows creators to finace heir projecs via crowd fundig. It was launched in 2009. The highest ever funded project was called "Pebble Time" 

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