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Essay / Research Paper Abstract
A 15 page book report of: Information Rules: A Strategic Guide to the Network Economy by Carl Shapiro and Hal R. Varian. The essay first presents an overview of the book and its central ideas. The writer then comments on the language, clarity and readability of the text. Some of the major themes of the book are then presented, such as the importance of differentiation, lock-in, rights management, networks and positive feedback, standards and alliances and information policy. Four of the points/positions the authors take are outlined and discussed: information is costly to produce but cheap to reproduce; the importance of leveraging the company's installed base; the need to fully understand the concepts of switching costs and lock-in; and managing intellectual property. Examples included in some discussions. Bibliography lists 3 sources.
Page Count:
15 pages (~225 words per page)
File: MM12_PGinforul.rtf
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Unformatted sample text from the term paper:
Internet? Consider the fact that the Internet allows information to be distributed at a near-Zero cost. The short answer to the question is that consumers will pay for the product
if the company provides the right version of it. Information is defined by the authors as anything that can be digitized. The authors also point out that information is a
"good," a product and its value is in the experience the customer has with it. Customers cannot put any kind of value on an information good until they experience it
personally themselves. This concept has been observed in practice since the popularity of the Internet. Consider: Netscape is free; Internet Explorer is free; Acrobat Reader is free. These and many
more information products are offered free to the consumer, some in an abbreviated form, some in their entirety. In some cases where a light version is offered free, the customer
will choose to purchase the full version. In this way, users are gaining experience with the product and can now place a value on it. This is a text
that presents a guide to the network economy. The primary argument of the authors is that while technology changes, economic laws do not change. The authors provide lessons and examples
throughout the book, making it easy for the reader to understand, even readers with little or no economic training. Shapiro and Varian consistently demonstrate that classic economic principles apply to
this information age. At the very least, classic concepts provide the manager and marketer with both insight and understanding they need to be successful in this technological information age. In
other words, classic economic principles have real strategic value in a marketplace that is dependent upon cutting-edge information technology. Shapiro and Varian argue that if managers are serious about developing
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