Long Tail Theory
Chris Anderson's 'Long Tail Theory' suggests that people are becoming more interested in 'niche' products rather than just mainstream products. Modern culture and economy is increasingly shifting away from a focus of mainstream 'hits' which are on the head of the demand curve. Instead, the focus is shifting toward the niche products at the tail. Anderson points out that online retailers only used to stock bestsellers or highly popular products. But this has changed. Now most things can be bought online giving the costumers a wide range of products to choose from whether its old or new.
This means that more people are likely to to shop online as there is more chance that something will be in stock online and there is more of a chance that a less popular product or an old product will be in stock online rather than the mainstream market. Therefore, more people will search the online market for tracks and albums that are not in the peak of the long tail graph.
Wikinomics
Explores and explains how mass collaboration is reinventing the way businesses and popular social websites communicate, create values and compete in the new global market.
Wikinomics is based on 4 main ideas;
Peering, sharing, thinking globally and openness.
Monday 27 February 2012
Monday 6 February 2012
Task 1 - The Ideas Of David Gauntlett
1. According to Gauntlett, what was "the media" like in the past and what changes have now occurred?
Gauntlett talks about the differences between 'old media' and 'new media.' He states that in the beginning people could only get their news from what he calls 'Media Gods.' These media gods controlled the news and broadcasted it to the 'little people.' In earlier times people needed big machinery, equipment and studios to produce and broadcast any type of media which meant only companies could be able to broadcast. Equipment was far too expensive for everyday people to get their hands on. Gauntlett also said that the media corporations usually had big, powerful buildings as their headquarters to promote the idea of their superiority over the 'little people.'
Gauntlett talks about the differences between 'old media' and 'new media.' He states that in the beginning people could only get their news from what he calls 'Media Gods.' These media gods controlled the news and broadcasted it to the 'little people.' In earlier times people needed big machinery, equipment and studios to produce and broadcast any type of media which meant only companies could be able to broadcast. Equipment was far too expensive for everyday people to get their hands on. Gauntlett also said that the media corporations usually had big, powerful buildings as their headquarters to promote the idea of their superiority over the 'little people.'
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