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Niche Market Research

         

tml89

8:39 pm on Feb 24, 2004 (gmt 0)

10+ Year Member



I have been reading alot of forum posts lately. It is evident that in order to make a bit of coin online, you have to find a nice market and dominate it. My question is what is the best stragety to locate potential nice markets? How does everyone else do it?

tml89

2:52 pm on Feb 25, 2004 (gmt 0)

10+ Year Member



I mean niche not nice sorry

Morocco

3:52 pm on Feb 25, 2004 (gmt 0)

10+ Year Member



That's a rough question.

When I originally saw this post I tried to think of a way to in which you could find a niche market online.

A niche would be a special area of demand for a product or service.

My only guess would be to identify the demographic of people you want to market to, and establish the best way to reach them.

I know that really doesn't help but its a start.

eWhisper

2:00 pm on Feb 26, 2004 (gmt 0)

WebmasterWorld Senior Member 10+ Year Member



I think a lot of people find niche markets by creating pages for very specific things they are interested in. Because they know a product/hobby/etc so well, they know what is niche and what is mainstream.

Another way to go about it is to start searching G for KWs and see what terms do not bring up relevent or very few ads.

The last way I can think of is to keep an eye out for new technology, new products, articles, etc and be the first person to make a website dedicated to that new product. Obviousally the product has to be unique and not just a new type of cell phone or whatever.

I doubt CJ or any affiliate programs show how many affiliates which companies have, but if you could find such a list, look for the companies that only sell a handful of products with very few affiliates.

TimmyMagic

12:12 am on Feb 27, 2004 (gmt 0)

10+ Year Member



People who set up web sites in a niche market are usually interested in the 'niche' subject. Why not pick something you are interest in? There are thousands of niche markets out there, but if they have no interest for you then you will be unlikely to make a success of them. It takes hard work and passion.

Morocco

5:19 pm on Feb 27, 2004 (gmt 0)

10+ Year Member



The perfect niche market will be one that you love.

Sell the thing that you most enjoy to buy or use because if you do this you will be able to relate to cutomer on level most merchants cant.

Dabu The Dragon

9:54 am on Feb 28, 2004 (gmt 0)

10+ Year Member



I totally agree with what eWhisper said about finding your niche market. Another way you can look at this is to take a market(subject) and vertically subcategorize topics of interest. When you get to the bottom category you should be at a niche.

danieljean

5:28 am on Mar 2, 2004 (gmt 0)

10+ Year Member



Nice question.

One thing I've been doing is wandering around my city, walking into small shops and boutiques. There are people with all sorts of wacky tastes. Some are downright frightful.

I'm always on the lookout for what fellow entrepreneurs are doing, not to compete but to see if I can contribute anything, know someone they should meet or spark further ideas. I'll also attend the next Chamber of Commerce meeting.

Travelling and experiencing different cultures can also bring new ideas... After spending a year in Paris, I came back with more than a dozen niche business ideas that should be feasible. And yes, a lot of them involve food. And wine :)

Whether it's a niche you like or not, you really do need to pick one you know really well.