List the three premises on which Anderson's long tail theory is based, and summarize the research testing his idea
What will be an ideal response?
Anderson's long tail theory is based on three premises:
1. Lower costs of distribution make it economically easier to sell products without precise predictions of demand.
2. The more products available for sale, the greater the likelihood of tapping into latent demand for niche tastes unreachable through traditional retail channels.
3. If enough niche tastes are aggregated, a big new market can result.
Some research supports this idea, but other research finds very low share products may be so obscure that they disappear before they can be purchased often enough to justify their existence. For companies selling physical products, the costs of inventory, stocking, and handling can outweigh the financial benefits of selling them.
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What will be an ideal response?