The Long Tail
A new term for me, "the long tail," a book by the same title.
What is the principle of The Long Tail? The summary provided on their website suggests the following:
"The Long Tail equation is simple: 1) The lower the cost of distribution, the more you can economically offer without having to predict demand. 2) The more you can offer, the greater the chance that you will be able to tap latent demand for minority tastes that was unreachable through traditional retail. 3) aggregate enough minority taste, and you'll often find get a big new market."
Excuse me, but isn't this the primary principle of capitalism? Lower the price of any goods or services and you'll increase the volume. With increased volume, you'll attract new customers... Although this isn't necessarily so in all cases.
But the book lends for interesting discussion nevertheless.
What is the principle of The Long Tail? The summary provided on their website suggests the following:
"The Long Tail equation is simple: 1) The lower the cost of distribution, the more you can economically offer without having to predict demand. 2) The more you can offer, the greater the chance that you will be able to tap latent demand for minority tastes that was unreachable through traditional retail. 3) aggregate enough minority taste, and you'll often find get a big new market."
Excuse me, but isn't this the primary principle of capitalism? Lower the price of any goods or services and you'll increase the volume. With increased volume, you'll attract new customers... Although this isn't necessarily so in all cases.
But the book lends for interesting discussion nevertheless.
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