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Because many consumers are conservative when it comes to spending money on a new product, businesses rely on the power of crowd sourcing to control the purchasing intention of consumers. The application of crowd sourcing in business is a strategy that aims at gaining a competitive advantage in the ever, evolving, industry of marketing. Most entrepreneurs would agree that for a consumer to purchase their product, a lot of persuasion takes place. This is mainly because it takes time and resources for a consumer to settle on purchasing the particular product. Crowd sourcing entails the ability of an already consuming client to convince prospective consumers that a product is either of high or low quality. Derived from the term a crowd, to mean more than one person, this strategy has extensively spread into the industry of business and marketing. One company that has succeeded in applying crowd sourcing is Fabletics, an apparels store that was formed with the intention of boosting women’s self esteem.
The input of crowd sourcing in Fabletics
Fabletics is an online –based store that sells active wear for women. The apparel comes in all sizes and shapes. One aspect about that has kept this company going is its ability to produce apparels that fit every woman. In America especially, Fabletics has garnered over 2,000 subscribers in the form of clients. Fabletics understands that women have complications when it comes to finding the right sizes. For plus-sized women especially, it was always impossible to find the right size of active wear before Fabletics was born. Most subscribers have given positive reviews in regards to the availability of sizes and comfort wear. It is through these reviews that other clients have decided to sign up with Fabletics. That better explains the strategy of crowd sourcing.
Utilizing crowd sourcing
Applying crowd sourcing in entrepreneurship is a major way of gaining ideas that would later benefit the business. Often, this strategy has assisted most businesses to understand the purchasing behavior of a client. At Fabletics, the co-founder, Kate Hudson, has analyzed the effects of having positive and negative feedback on the page. With her junior colleagues, she handles such issues on a personal level. Kate Hudson believes that clients need the attention of her management. Usually, this strategy seeks to identify the specialization of clients in terms of preferences and life style. Through a clear understanding of what is really required from her, Kate Hudson facilitates the designing and production of the right brand.
Fabletics had just been born when Kate Hudson stepped in as the assistant founder. Being into fashion and entertainment, she understood what the brand needed, in order to excel. Kate coordinated her team into a productive unit that generated stylish, unmatched, designs. Aside from quality, there is the price factor that is relatively affordable compared to most active wear apparels. With the ability to properly execute ideas, Kate Hudson invested in a constructive, interactive, website that has now taken the competitors by surprise. Kate Hudson has been on the lead of advocating for healthy lifestyles in women.
Whitney Wolfe, an American tech entrepreneur and founder of Bumble app, has achieved overwhelming success in the industry. Owing to her achievements, Wolfe has been able to receive numerous awards, including being recognized on Forbes’ Under 30 list. Whitney founded Bumble dating app in 2014. Under her visionary leadership, the app has experienced rapid growth. Bumble app stands out because of its feminist nature that gives women the power to initiate a conversation after a match. In the course of her career in tech entrepreneurship, Whitney came across numerous cases of online bullying where perpetrators are mostly men. The desire to create an app for women was also fueled by a first-hand experience as a victim of sexual harassment.
Speaking at the annual Boston Summit, Whitney Wolfe explained that traditions have always put women in second place. Most entrepreneurs have created mainstream products like dating apps where women have not been allowed to make the first move. According to Wolfe, women’s passive participation gives men the power to control and manipulate them. Bumble has managed to strengthen women’s position in the feminism society. The company has donated to women’s healthcare organization, Planned Parenthood. Bumble has expanded beyond dating. Recently, the company launched Bumble BFF and Bumble Bizz to give women a chance to connect with new peers and engage in professional networking. Whitney said that they incorporated innovation and Bumble data to meet the additional demands of their users. She explained that most users on Bumble focus on networking.
Whitney Wolfe is the CEO of Bumble, the fourth most popular dating app according to monthly user base. According to TIME, Bumble, which has more than 18 million users, is worth $500 million. Whitney’s expertise in tech entrepreneurship has been recognized by leading companies like Elle’s Women in Tech and Business Insider’s 30 Most Important Women Under 30. Whitney ventured into entrepreneurship at a tender age of 19 by establishing selling bamboo tote bags in the areas affected by the BP oil spill. Later, she collaborated with celebrity stylist Patrick Aufdenkamp to launch Help Us Project. The bags attracted national attention after celebrities Nicole Richie and Rachel Zoe were spotted with them. In the early stages of her career, Wolfe worked at Hatch Labs where she was part of the Cardify startup, a project initiated by Sean Rad. She is an alumnus of Southern Methodist University where she pursued her degree in international studies. Recently, Wolfe had a perfect wedding in Italy.
To know more visit @: www.fastcompany.com/40456526/bumbles-ceo-takes-aim-at-linkedin