SUMMARIZED BY DR. TANAI CHARINSARN

APRIL 2, 2017

WRITTEN BY CHRIS ANDERSON

This book is a translation of Chris Anderson's work that discusses the Long Tail strategy based on the observation of the changing phenomenon in the world from the old limits to the new world full of endless opportunities. Anderson has studied, gathered data, conducted in-depth analysis, and summarized interesting principles, not just from an economic perspective, but from a viewpoint that affects everyone in the online world. It's a virtual world with numerous choices and limitless resources. The content of the book is designed to provide valuable insights, especially for those in business and commerce, enabling them to learn and adapt swiftly to ensure sustained growth and survival.

The book explores how the world has evolved, emphasizing that the culture of the future is no longer about popular products (Hits), but about products that were once considered unsellable (Misses) or niche markets, consisting of thousands of subdivisions. These niche markets provide an invaluable opportunity for new front-facing service businesses that gather the demands of new products or needs and cater to them or even redefine tastes.

Moreover, Anderson discusses how the distribution of online products differs from traditional product distribution, primarily due to the absence of physical and time limitations. He notes that today, due to the internet, the cost of access for consumers has decreased, making the long tail of the sales curve extend further. It allows for more efficient consumption, increased sales, and the delivery of tailor-made content to the public.

Anderson coined the term "Long Tail" from the distribution curve of sales, which shows the significant impact of the strategy. The strategy includes three main components:

Producers: The ease of production allows almost anyone to create products that were previously considered professional. This results in a rapid increase in content, expanding the long tail of sales.

Reduced Consumer Costs: Internet access significantly reduces the cost of reaching consumers. It increases the flexibility of niche markets in the tail and efficiently enhances sales.

Supply and Demand Efficiency: Efficient connections between supply and demand through various means such as word-of-mouth marketing through social networks, blogs, and, more importantly, search engines, contribute to cost-effective searches for content or niche products.

The key to thriving in the Long Tail business model is to offer everything to consumers and help them find what they want. In the world of entertainment and news information, the limitations of product placement and product distribution have disappeared along with the monopolization of the product world. It has given way to the potential power of digital technology, which we can observe in our everyday culture. This phenomenon is likely to expand and spread to all aspects of our lives. The question for tomorrow is not whether having more choices is good or bad; it's what we truly desire. In the endless aisle, everything is possible.