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---- 35 key points for new product niche evaluation
philbish - 6:45 am on Oct 29, 2011 (gmt 0)Small and light = easy shipping, low warehouse space.
Picking a niche physical product for online sales? Here's some key points to evaluate.
Or at least preference for low weight:value ratio = worthwhile to ship.
Low risk in shipment. Damage, theft, special conditions (flammable etc).
Attached to growing component/auxiliary growth = diminishing cost.
Growing market = demand.
Non-fragile = lower supplementary shipping costs, low defect rate.
Declared product import type = aim for low customs duty.
Multi use cases. Scope to resinate with subcultures, hobbyists etc.
Applications in larger scale/commercial uses.
Target consumer groups are high net worth.
Products likely to strike price with consumers = word of mouth.
Low negative perception on foreign production. Low patriotism.
Good prospects to gain SEO on core product keywords and use cases.
Core keywords have limited issues of clarity or broad keyword competition.
Low cost PPC and advertising opportunities.
Capacity to add value through servicing and brand.
Perceived complexity = barrier to entry, added value to consumer.
Ability to use standardized packing.
Future scope for further vertical integration.
Seeming impossibility for consumer to reach manufacturer directly.
Products evolve over time.
Product design is difficult (or at least perceived to be) but feasible.
Ability to infiltrate social media = create awareness.
Utilizes existing injection moulds/manufacturing equipment.
Low cost/time to tweak manufacturing equipment for customization/product extension.
Low bulk resale value = lower risk of warehouse theft.
Low dominance of existing competitors.
Demand exists for customized larger orders.
Minimal incremental costs (fixed/variable) to facilitate custom order production.
Complimentary product set that can be sold as kit (‘batteries required’).
Manageable defect rate.
Ease to test/eliminate most defects pre-customer delivery.
Product does not perish. Or become obsolete in short term.
Ideally a consumable in the long-term = necessary to reorder.
Suitability for e-commerce. Less suitable for offline/retail (space, niche).
You got any more to add?
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