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posted on:
4/25/2012 12:09:05 PM EST
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The importance of Niche Research in Marketing
niche, niche marketing, home business, affiliate and network marketing, target marketing, market seg
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Niche research is a topic most marketers should be familiar with. Not knowing and being familiar with and practiced, could be costing a lost of customers and leaving lots of money on the table. A niche market is a focused, targetable and quantifiable portion of a larger market.
Being business sophisticated includes looking beyond a larger target market/s and finding products and services not being marketed by other markets, but that are desired and wanted by a smaller market; (example “Skin care” is a niche market within the larger “Health and Wellness” market).
The time and energy involved in niche research could be costly; but will prove beneficial; revealing which niche market/s are not being catered to or under served. For just a moment, imagine the impact on, and possibilities for your business if you discovered an entire niche market that is left unnoticed by other marketers. It isn’t unusual for these smaller but important niche markets to go totally unnoticed by larger businesses, and marketers. However, its sometimes not that simple to develop an entirely new market. When I got into insurance, for example, the market size was quite small and under served (only about 3,500 persons in the community). Twelve years later I’m competing with three or four other agencies. Of course it was difficult and only possible because I managed to arrange my overhead costs effectively.
The niche research would reveal these things and point to the door that might have unknowingly, been left wide open.
In carrying out your all important niche research, finding a niche market that is available will only prove productive, if carried out by investing your time and energy in careful and accurate research. Having done the research and discovered a niche market, make sure that the product or service you are promoting is reasonable hot (eg. on a scale of 1 to 5, how unique, effective and beneficial do you perceive your product or service to be) ?
This might require testing, involving family and friends. One of the things I like about the United States, is that there always seems to be a pole taken/available for just about anything. Unfortunately, many of us select the program, product or service totally on our own (perhaps keeping it a secret from the competition and/or to surprise our friends when we have hit it big) lol
On Clickbank, there are numbers next to the product/service. The numbers, refer to the weight or competitiveness of the product (how fast the product/service is moving), which might give an indication of the number of marketers in the loop. Besides having a unique product or service, you need to be sure that your product or service is marketable. The last thing to, be considered is the level of marketing required to get the product or service into the market. Without the right or a given amount of marketing your niche research would be worthless as your potential Nichers will not even know you exist.
vibranthealth.max4u.com
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