HAMMOND | A team of four Purdue University Calumet marketing students recently placed first in a national competition of undergraduate market researchers.
Students Joseph Crisan, of Lowell; Reem Aljar, of Khoubar, Saudi Arabia; I-Chun Lee of Hemei, Changhua, Taiwan; and Weizhi Chen of Harbin, Hei Longjiang, China, collaborated to win the third annual Next Generation (NextGen) Competition for their research project, “Crowdfunding and Crowdsourcing as a Dual Process: How Social Media Impacts New Movie Development.”
Internationally recognized market research firm GfK sponsored the competition.
The winning market research was originally developed last fall for a class instructed by Assistant Professor of Marketing Haisu Zhang.
“The Purdue University Calumet study showed sophistication and out-of-the-box thinking in both design and execution,” said David Krajicek, CEO of GfK Consumer Experiences North America. “We are pleased to celebrate innovators of any age, and to help students see the connections between sound business decisions and high-quality research."
The students used a four-pronged research approach to determine effective ways of targeting potential backers of independent movies through crowdfunding and crowdsourcing websites and similar platforms. They studied independent movie projects on Kickstarter.com and collected online survey responses.
“Our present research provides a snapshot for the effective use of crowdfunding and crowdsourcing and how social media affects the development of independent movies on the Internet,” Crisan said. “Specifically, we focused on identifying opportunities to attract potential backers and idea contributors to these types of projects. We conducted four studies and employed multiple research methods to study this phenomenon.”
The students received a $1,000 prize and attended the Advertising Research Foundation’s three-day RE: Think 2014 conference in New York City. They shared their research during the Great Mind Awards ceremony and luncheon.
“This competition provided the four students with an extraordinary experience to connect with the business world,” Zhang said. “They worked extremely hard on this market research project for my class and this competition. As faculty advisor, I was very happy to work with them towards the national winner title.”