The Impact of Innovativeness and Perceived Product Quality on Funding Intention for Reward-Based Crowdfunding Projects

Abstract:

This study focuses on examining the impact of two aspects of products - innovativeness and perceived quality - on the intention to fund reward-based crowdfunding projects through project trust. Data was collected from 495 knowledgeable individuals who have previously funded crowdfunding projects. The results indicate that the funders’ trust in the project significantly influences their intention to contribute. Product innovativeness positively affects the intention to fund, although it does not impact funders’ trust. Additionally, perceived product quality positively influences both trust and funding intention. The findings suggest that reward-based crowdfunding projects need to demonstrate product feasibility and maintain frequent interactions to build a close relationship with funders, thereby fostering trust. Moreover, for a project to succeed, the product itself must meet certain quality standards and possess distinctive innovative features.