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Application of the 4Es in Online Crowdfunding Platforms: A Comparative Perspective of Germany and China

Author

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  • Peter Konhäusner

    (Department of Marketing, Faculty of Economics and Business Administration, Babeș-Bolyai University, 400591 Cluj-Napoca, Romania)

  • Bing Shang

    (Department of Business and Management, University of Europe for Applied Sciences, 10963 Berlin, Germany)

  • Dan-Cristian Dabija

    (Department of Marketing, Faculty of Economics and Business Administration, Babeș-Bolyai University, 400591 Cluj-Napoca, Romania)

Abstract

As a dynamic way to raise funds for professional and private projects in recent years, crowdfunding has made tremendous progress, especially through online platforms. However, research on this subject is still young, leaving room for different perspectives. We therefore approach the marketing mix adaptability of online crowdfunding platforms and its impact on campaign efficiency and company strategy in two major economies: Germany and China. With the help of case examples based on secondary data, we performed an in-depth analysis of the 4E marketing mix benefits on crowdfunding, highlighting best practice approaches. We critically discuss the 4Es marketing mix approach, focusing on experience, value exchange, and marketing scales, and clarify the compatibility between crowdfunding and 4Es to better understand how these theories are applied to crowdfunding activities. As a result, the suitability of the 4E marketing mix adapted to crowdfunding needs is shown. From a market-oriented perspective, managers of crowdfunding platforms, as well as project owners from Germany and China, will be better able to attract their target audience by applying the 4E adaptation provided.

Suggested Citation

  • Peter Konhäusner & Bing Shang & Dan-Cristian Dabija, 2021. "Application of the 4Es in Online Crowdfunding Platforms: A Comparative Perspective of Germany and China," JRFM, MDPI, vol. 14(2), pages 1-19, January.
    • Handle: RePEc:gam:jjrfmx:v:14:y:2021:i:2:p:49-:d:486347
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    References listed on IDEAS

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    Cited by:

    1. Peter Konhäusner, 2021. "Crowdsourcing in Sustainable Retail—A Theoretical Framework of Success Criteria," JRFM, MDPI, vol. 14(2), pages 1-21, February.
    2. Radoslaw Luft & Adam Weinert, 2021. "Analysis of the Crowdfunding European Market: Performance and Perspectives," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 632-644.
    3. Alexandrina Maria Pauceanu & Nada Rabie & Ayman Moustafa & Daniel Constantin Jiroveanu, 2021. "Entrepreneurial Leadership and Sustainable Development—A Systematic Literature Review," Sustainability, MDPI, vol. 13(21), pages 1-18, October.
    4. Zahid Yousaf & Obaddah Shakaki & Nicoleta Isac & Alina Cretu & Andrei Hrebenciuc, 2022. "Towards Crowdfunding Performance through Crowdfunding Digital Platforms: Investigation of Social Capital and Innovation Performance in Emerging Economies," Sustainability, MDPI, vol. 14(15), pages 1-12, August.
    5. Han-Chiang Ho & Candy Lim Chiu & Somkiat Mansumitrchai & Zhengqing Yuan & Nan Zhao & Jiajie Zou, 2021. "The Influence of Signals on Donation Crowdfunding Campaign Success during COVID-19 Crisis," IJERPH, MDPI, vol. 18(14), pages 1-25, July.
    6. Peter Konhäusner & Marius Thielmann & Veronica Câmpian & Dan-Cristian Dabija, 2021. "Crowdfunding for Independent Print Media: E-Commerce, Marketing, and Business Development," Sustainability, MDPI, vol. 13(19), pages 1-17, October.

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