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HomeBasedBusinessAdviser.com
Short Course In Niche Marketing – Part 1
Once you have mastered the basics of Internet marketing it ispretty easy to go into other markets and make money and evendominate those markets. This is the first lesson in a short courseon niche marketing. This lesson will give you the knowledge andtools you need to find
niche ideas
, evaluate them, developproducts around them, profit from them and then duplicate your success in other niche markets. In this first article we will go over why you should consider niche marketing as a business modeland how to determine whether a niche can be profitable.First things first, let’s define what a
niche market
is. Basically you can define a niche as asmall piece of a bigger market.
EXAMPLE:
Big Market:
Dogs
Niche Market:
Labrador Retrievers
Smaller Niche Market:
Breeding Labrador Retrievers
Even Smaller Niche Market:
Breeding Red Labrador RetrieversYour niche can go as deep as there is a market for.
Why Should You Consider Niche Marketing?
The main reason is that the bigger the market is the more competition there is and the moredifficult it is to make money. The smaller the niche the more opportunity you have to targetyour market and serve them exactly what they are looking for.
How Do You Determine What Niche Market To Enter?
It is always good if you have some knowledge in a niche and actually like it. However, if youare like me it doesn’t really matter. I only want to provide a good product or service and makemoney doing so. I don’t need to like the niche or even know anything about it. Here are sometips to help you figure out what a good niche would be.
1. Can the market be easily defined and reached?
Do you know where people in the market gather? Do they visit forums, onlinecommunity sites, is there someplace in your own community to learn about the niche?Are there publications devoted to the niche. By the way this is a great way to helpdetermine if the niche is viable. Are there clubs, social gatherings, radio, magazines, or TV shows about the niche. Do the people interested in this niche search for informationonline? These are the kind of questions that will help you know if there is a targetmarket for this niche.
2. How Big Is The Niche Market?
It is important to know how big your niche is. You need enough interest to make it worthyour while but not so big that you have loads of competition
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