After reading ”The Good Enough Revolution” and “Ramen Noodle
Theory”, I am thinking that does “The Good Enough Revolution” apply to online
news?
Three traits of online product are accessibility,
convenience and shareability. These are the reasons why Flip Ultra became
successful in the market. However online news also has accessibility,
convenience and shareability, but online news is an inferior good, instead of
making a profit like Flip Ultra.
Capps pointed out that three things are the focus in digital
age: ease of use,
continuous availability, and low price. Online
news is easy to consume, and widely accessible, but it is not low price but
free. Consumers have low paying intent. Why are consumers willing to pay Flip
Ultra but not willing to pay online news?
However, maximizing accessibility is a good way
to make a profit for online news. Once online news has a lot of readers, it can
attract advertisings.
Ramen Noodle theory is an interesting perspective
to look at online news, especially to think about the relationship between news
consumption and income. It makes me to think the circulation of newspaper in
2008 and 2013. Since a print newspaper is a normal good, when there is an
economic downturn in 2008, I assume that people had fewer intent to buy
newspaper. The economy is better now than that in 2008, can I assume that
people’s income increased, the circulation of newspaper should be increased
accordingly?
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