Niche Marketing

What is Niche Marketing?

We hear the term thrown around a lot, but unless you really
understand what niche marketing is you will have a very hard
time being successful at it!

The word niche is defined as: A special area of demand for a
product or service. Marketing is defined as: The opportunity
to buy or sell. If you put the two works together, niche marketing
means buying or selling a product or service in a special area
of demand. All that really means is that a product or service is
being sold to the people who are most interested in that
particular product or service and not to the world in general.

Oftentimes big businesses use niche marketing. For example,
a company that makes computers and computer accessories
might advertise all-in-one copy/printer/scanners to the home
computer user while at the same time advertising single function
machines to large businesses.

One of the things that make niche marketing so attractive to
sellers is that their advertising budgets go further. It costs less to
advertise to a specialized market than it does to advertise to a
broader market.

Niche marketing must be designed to meet the unique needs of
the targeted audience. Niche marketers must tailor their product
to meet those unique needs. If, for example, you have designed a
product to make gourmet cooking easy enough for the untrained
professional to do it, those who want to be gourmet cooks will be
most interested in your product. Those who like to eat out would
not.

In essence, niche marketing is selling a product or service to those
who want or need the product the most.

Finding the right niche for what you have to sell isn't really all that
difficult. Just think about who the people are who would be most
interested in what you have to sell.

Before you decide which niche market to dive in to you will need to
do a little research. You will want to make sure that the market easily
defined and reachable. You will also want to find out what your
potential customer likes to do and read.

- What kind of trade articles or books do they read?
- Do they have clubs or are members of particular organizations?
- Does the group have an insane passion for their hobby or topic
of interest?
- Do they eat, sleep, and breathe their hobby?
- Do they actively seek more information related to their subject?

Ask yourself, is the market small enough that you won't have
to many competitors, but still large enough for you to make a
good profit?

Most of all does the market have the money to spend?

Doing research related to these questions will help you pick
the perfect niche to market to. In future issues we will go more in
to how you can research and pick profitable niches. In the mean
time keep the questions above in mind when your are trying to
choose a new niche market.

Now that you know what niche marketing is we are going to go over some of the difference between niche marketing and Internet marketing.

Comparing niche marketing and an Internet marketing niche is
equivalent to comparing apples with oranges. Apples and
oranges are both fruit. Niche marketing and an Internet Marketing
niche are both forms of Internet marketing but as different as
apples are from oranges.

As we went over in the last issue the term niche marketing
means selling a specific product to a specific type of buyer.
There are far less competitive niches than the Internet marketing
niche.

Most niche markets are more open to the latest marketing
strategies, as well. Small niche markets are not over stocked
with gurus and wise men and are much easier for the beginning
marketer to break into. A niche market allows you to promote
your own niche product or that of a niche affiliate product.

There is a niche market for anything and everything you can
imagine. All it takes to break into a niche market is a good
idea, a good product created by you or someone else that will
appeal to certain people, some advertising and the desire to
succeed.

The Internet marketing niche, on the other hand, means that you
will be promoting your own Internet marketing product. This is a
very crowded field of endeavor and really difficult to break into.

It is a world filled with gurus and wise men who have been playing
and winning the game for a long time. This doesn't mean that it
is impossible to cash in on the Internet marketing niche because,
of course, you can. It is a world still built on demand and that
means that if you have a product that can compete and if you
have the willingness to play hard ball with the big boys then you
can succeed at the Internet marketing niche game. Just be
aware that there are easier niche market nuts to crack.
read more at: http://nichesuperman.com/