The long tail is a phenomenon whereby firms can make money by:
A) selling the same product at different prices with only minor tweaks in their design.
B) leveraging customers to promote their products or services.
C) reselling multiple versions of a single product under different brand names.
D) offering a near-limitless selection of products or services.
E) performing different tasks than rivals or the same tasks in a different way.

Question

Quizplus · Accepted Answer

The long tail refers to the strategy of offering a vast array of products or services beyond the most popular ones, which allows firms to tap into niche markets and cater to specific customer needs. This approach can generate significant revenue for firms, as they can sell lower quantities of many different products, rather than relying solely on a few best-sellers. Option A, B, C, and E do not accurately describe the long tail phenomenon.

The Long Tail Is a Phenomenon Whereby Firms Can Make