CRI 510 Lecture Notes - Lecture 2: Pareto Principle, Junk Culture, Organizational Culture
2 Nov 2016
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Document Summary
Chris anderson wrote that our economy as a whole is moving away from concentration of success at the top and into a longer, bulkier tail of targeted niche offerings. Therefore, this should inform product development and marketing strategy. Instead of concentrating on these few mass market properties, what cultural producers should do is target niche audiences and understand that niche products are becoming more popular. Niche products are going to be popular themselves within their own audience. Instead of focusing all your marketing attention on the bug guns, you should distribute those efforts towards things in the long tail because they will be popular in their niches. A blockbuster strategy is relative, not absolute. A company isn"t looking for the largest share of the total market, it"s looking for the largest share of its target markets. The stp process: segmentation > targeting > positioning.
