TITLE

The Long Tail

AUTHOR(S)
Anderson, Chris
PUB. DATE
December 2009
SOURCE
Long Tail - Business Book Summaries;2009, Vol. 1 Issue 1, p1
SOURCE TYPE
Book Summary
DOC. TYPE
Book Summary
ABSTRACT
Since the dawn of star-struck Hollywood's heyday, our consumer culture has been based primarily on a popularity contest. The market landscape looks something like this: A relatively small number of "hits" (blockbuster movies, platinum albums, bestselling books) gobble up the largest share of buyers' dollars while hundreds of thousands of lesser-known works languish in relative obscurity, rarely (or never) to be discovered or purchased. However, according to author Chris Anderson in his book The Long Tail, the hit parade is about to end. His assessment: thanks to the volume of those "other," obscure items coupled with the lightning-fast information dissemination and infinite shelf-space of the internet era, a vast new collection of consumer choices has been made available to the buying public, generating a growing tempest of choice beyond the mainstream that can make more money for a savvy company than any blockbuster hit ever could. Anderson uses the statistical model of the "long tail distribution" curve to illustrate this phenomenon in the consumer world. The "head," or the popular peak, is massive in volume but small in versatility, and contains all the choices the ordinary marketer is likely to promote and the ordinary buyer is likely to encounter through traditional retailing methods. The "long tail" of the curve contains a vast, generally untapped field of "niche" product offerings, each unique and vastly different from the other. In typical retail and marketing models, these "niche" offerings have very little earning power individually, but when counted together account for a nearly endless versatility of choice. The Long Tail illuminates the economics of this abundance and offers businesses mired in traditional buyer/seller relationships access to the language, context and stories of this new paradigm so that they may redesign their operations to better meet the modern consumer's insatiable appetite for the new and novel.
ACCESSION #
45683582

 

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