The document summarizes Chris Anderson's theory of the "long tail" and its implications for marketing. The key points are: 1) With lower distribution costs on the internet, niche products that were previously unprofitable "misses" can now make money. This has shifted consumption from a few "hits" to many niche products. 2) Democratization of tools and distribution allows many more people and products to participate in markets. 3) Marketers must find ways to reach fragmented audiences across many channels rather than relying on mass media. Successful companies like Amazon and Netflix understand customer behavior in a market of infinite choice.