For this assignment, I chose to read The Long Tail: Why the Future of Business is Selling Less of More by Chris Anderson. The overall theme was about how technology has completely changed the way people sell products to the public market. The trend towards directly niche markets markets makes sense, instead of appealing to the general consumer. Chris Anderson discusses the benefits of technology, and how it it able to better identify these niche markets to sell products to. An interesting example had to do with music software and website and the feasibility of sharing it to the public. This is caused by supply and demand, and the fact that a specific product can target enough people to make a sustainable amount of income.
2) How did the book, in your opinion, connect with and enhance what you are learning in ENT 3003?
This book connects with the idea of innovation and entrepreneurship. It helps on the sale side, which targets many markets nowadays. This makes you think how much entrepreneurship and sales has altered in the past few years. Previously, it was one product that appeased a large market. Now, we can economically see that there are a lot more smaller business that please the specialty, or picky, buyer. Technology has positively benefitted our ability to be entrepreneurial. This is what our class is about.
3) If you had to design an exercise for this class, based on the book you read, what would that exercise involve?
I would suggest for students to research how things were sold/marketing techniques in the 70s and 80s and compare it to those commonly used today. Then, I would have students compare the business models and discover the impact of technology on businesses in the sales area.
4) What was your biggest surprise or 'aha' moment when reading the book? In other words, what did you learn that differed most from your expectations?
The most important concept that differed was that it is beneficial to have a ton of products for consumers, and that having this business strategy can still be profitable. "Putting all of your eggs in one basket" if awfully risky, and can often lead to business failure or bankruptcy. As you gain more niche products, you will gain a larger range of consumers.
Hello again Melissa! I think that the reading that you chose was really interesting. It gave me a really good idea of how the market for products have changed with the past of time. In addition, I think that the exercise for the class that you designed it could be very useful for us students. Overall, great job. Keep up the good work.
ReplyDeleteGood writing, Melissa. I enjoyed reading your reflection on this book. In relation to the last point, I believe this is why companies like Google, Walmart, and Amazon got so popular. They provide many different products to many different people. I think something related to this book that might be true is how consumers have access to tons of information because of technology, and this makes consumers able to research more before purchasing a product. This can also influence how a company reacts to its consumers.
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