Abstract:
Examines the rise of the niche in today's economy, thanks to a breakdown in the barrier between supply and demand and the increasing availability of everything to everyone, and assesses the implications of this new economic model for business.
Table of Contents:
by
obradv (WorldCat user on 2006-08-31)
Highlights As editor-in-chief of Wired magazine, Chris Anderson is one of the most knowledgeable and articulate voices at the center of the new economy. He has written an important and exciting new book that defines an entirely new economic model for business. The book - The Long Tail: Why the Future of Business is Selling Less of More explores the tremendous business potential of the long tail-the rise of the niche as a powerful new force in our economy. The message - New efficiencies of distribution, manufacturing and marketing allow us to deliver to customers many more products in the "tail"-outside the usual demand curve dictated by shelf space and other limiting factors. Collectively, these niche products create a new market as big as the one we already know. Background - Before taking the helm at Wired, Chris worked at The Economist for seven years in various positions in London, Hong Kong and New York, ranging from Technology Editor to US Business Editor. He also served as an editor at the two premier science journals, Science and Nature. Education background: physics, including research at Los Alamos. The Long Tail The insight of the Long Tail is that our culture and economy are increasingly shifting away from mainstream products and markets at the head of the demand curve toward a huge number of niches in "the tail"-the yellow portion of the curve. As costs of production and distribution fall, especially online, narrowly targeting goods and services can be as economically attractive as mainstream fare. Traditional business models have to ignore these many small markets, but, together, they rival traditional markets in economic potential. The potential - Niche products outnumber mainstream offerings by several orders of magnitude. Online retailers can stock virtually everything, which gives them access to a huge pool of niche customers. Not only are they an enormous market in the aggregate, but virtually every consumer is a niche customer for something. People gravitate towards niches because they satisfy narrow interests better and, in one aspect of our life or another, we all have some narrow interest. Thus the long tail strategy opens up areas of profit never available before. The book and the presentation - The Long Tail chronicles the effect of technologies that have made it easier for consumers to find and buy niche products, that break through the bottlenecks of broadcast and traditional bricks and mortar retail. It offers indispensable help in building your company's business model around this incredible potential.
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