CROWDSOURCING

1. What is the definition of crowdsourcing?

Crowdsorcing is the process of outsourcing a task to a group of people or a community that would commonly be performed by a employee or contractor. Crowdsourcing relies heavily on the tools made possible by the internet. 

Stokes (2011) text book gives the definitioin 'taking a job traditionally performed by a professional and distributing it to an undefined, generally large group of people in the form of an open call'

2. What is the difference between the wisdom of the crowd and crowdsourcing?

wisdom of the crowd is the attributes and opinions of a group of people rather than a individual expert, where as crowdsourcing is choosing the idea of a individual and rewarding them for their contribution.

3. What are the benefits of crowdsourcing for both consumers and brands?

its effective and efficient

bring new ideas into scope

only pay for ideas you use

increase effective relationship with consumers 

http://crowdflower.com/  i think crowdflower.com is a fantastic example to give as a crowdsourcing company. i encourage you to look over it to grasp just how a crowdsourcing website works.

Stokes, R. (2011). eMarketing: The essential guide to digital marketing. Quirk Education.