What does the 'Long Tail' theory suggest?
Understand the Problem
The question is asking for an explanation of the 'Long Tail' theory, which pertains to economics and business strategies regarding niche markets and the distribution of products or services.
Answer
Selling many unique items in small quantities instead of selling fewer popular items in large quantities.
The Long Tail theory suggests that companies can achieve significant profits by selling a large number of unique items in relatively small quantities as opposed to selling fewer popular items in large quantities.
Answer for screen readers
The Long Tail theory suggests that companies can achieve significant profits by selling a large number of unique items in relatively small quantities as opposed to selling fewer popular items in large quantities.
More Information
The Long Tail theory, introduced by Chris Anderson in 2004, highlights the profitability of catering to niche markets through the internet.
Tips
A common mistake is to assume it only applies to products and not services or content.
Sources
- Long tail - Wikipedia - en.wikipedia.org
- The web page with info on - Example Source - investopedia.com
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