Word: tailings
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Dates: during 2000-2009
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Anderson's premise, once you accept it, is like a song you can't get out of your head: you start seeing long tails everywhere. Microbrews become the long tail of beers, for example. Blogs are the long tail of journalism. Even porn has its version--the increasingly bizarre porn fetish sites that could be profitable only...
...long tail has its intellectual roots in economic ideas that date back a century. In 1906, Italian philosopher Vilfredo Pareto noted that 80% of the property in Italy is owned by 20% of the population, a formula that, much later, became known as the 80/20 rule. It has forever influenced brand management, customer service and even personnel development. Focus your attention and resources on that top 20%, which is where the best returns on investment can be found...
...rule in reverse. They upended the belief that the Internet's main benefit to consumers would be lower prices. Instead, they suggested that greater value online came from consumers having access to a wider selection of products and services. The key for businesses hoping to capitalize on the long tail, says Carnegie Mellon's Michael D. Smith, one of the paper's authors, is to cater to "significant heterogeneity in taste." Even though a majority of us may like U2 on our MP3 players, for example, there are enough of us who enjoy string quartets or British ska to make...
Most online entrepreneurs, particularly the smaller players, are living the long-tail way of life. "Savvy Web marketers already know the value and the power of the long tail," says Sharon Housley at NotePage, a Massachusetts-based firm that makes wireless-messaging software for hospitals, banks and the military. By using less popular, more focused search terms, for example, NotePage is targeting small businesses as well as FORTUNE 500 companies...
Large corporations are sliding down the tail. Television networks, for example, are having mixed success in making the long tail work in a business that revolves around discovering the next Seinfeld. They found a place for reruns of long-forgotten television shows, on cable channels like the Game Show Network and SoapNet. But they have not yet figured out whether they should consider YouTube, the massively popular online-video site, as their worst enemy or new best friend...