Select a Niche Market for Ecommerce

Written by Ray Yee

Choosing a carefully pinpointed niche market should be one ofrepparttar first steps that an internet business owner has to take. A very common way of describing a niche market is ‘a targeted group of individuals with very specific and similar needs or interests.’ These people engage in similar activities and hence they would most probably demandrepparttar 137205 same goods or services to cater to their needs. Online businesses that drop ship their products to their customers would thrive by focusing on a specifically targeted niche market. In this article, I would focus onrepparttar 137206 advantages a niche market can bring to an online Drop Ship business. This article also provides you with practical steps for you to select your niche market.

By focusing on a specific niche market, Drop Ship businesses gain an edge because they are like ‘monopolies’ for that particular niche. The ‘monopoly’ for that niche would be able to provide a much wider range of products and better services for that market, enabling it to dominate. Because there is a very large number of niche markets onrepparttar 137207 internet, most Drop Ship businesses are able to survive and thrive online by selecting a niche that no major competitor is targeting, and directing their marketing efforts to their respective niches. With limited resources, a small Drop Ship business just starting out cannot hope to sell ‘mainstream’ products that are also supplied by huge competitors like Wal-Mart.

It is critical to first establish a market with an unfulfilled need and then develop products or services to meet these needs. Most online ventures fail by first selecting a good product, and then looking forrepparttar 137208 market for that particular product. They fail whenrepparttar 137209 product’s demand is insufficient, or whenrepparttar 137210 product already has a strong competitor supplying torepparttar 137211 market.

The internet is notrepparttar 137212 only medium where niche marketing dominates. In our corporate world,repparttar 137213 majority ofrepparttar 137214 successful companies also selects a niche market and develops products or services that cater to their specific niche. Microsoft develops software as operating systems and platforms for computers. Nike offers shoes and footwear targeted atrepparttar 137215 sporting population. This illustratesrepparttar 137216 importance of first selecting a niche market for your business to focus on.

There are a few simple stages inrepparttar 137217 selection of a niche market:

1) Brainstorm for niche markets that are related to your area of interest or expertise. It is simply easier to succeed if you focus on an area that you are passionate about and haverepparttar 137218 most expertise in. This way, alongrepparttar 137219 learning curve of starting an online business,repparttar 137220 frustrations that you face alongrepparttar 137221 way will be reduced because whatever you are doing feels more like fun instead of work.

2) Researchrepparttar 137222 market in detail. This involves producing a detailed profile of your market, includingrepparttar 137223 estimated demand for your products,repparttar 137224 products inrepparttar 137225 niche likely to haverepparttar 137226 highest demand, and where these prospects normally congregate online.

You can userepparttar 137227 free Overture search term suggestion tool to gaugerepparttar 137228 market size forrepparttar 137229 products you have in mind. It is available at Simply type inrepparttar 137230 product keywords and this tool can suggest more specific keywords, and alsorepparttar 137231 number of times this word has been searched over a period of time.

Chat rooms, forums and newsgroups are where your target market normally congregates online. By monitoring these discussion boards, you should be able to determinerepparttar 137232 evolving needs of your target market, and what new product is likely to be in high demand soon. Forums can also be a good source of ideas for your products. Google Groups is a good place for you to start finding newsgroups or forums for your niche market. It is available at

3) Select a niche market that has a need not currently being adequately met instead of targeting a niche whose need a competitor can fulfill very well. Fromrepparttar 137233 newsgroups, discussion boards and forums, you can get valuable information about business opportunities. For example, if consumers voice out their dissatisfaction about any unfulfilled need, you can quickly find and offer any product as a new solution to their problem. This fills a ‘gap’ inrepparttar 137234 market and your business is established.

Marketing Your Home Business

Written by Paul Jesse

Copyright 2005 Paul Jesse

Owners of home based businesses that are trying to make a living working from home knowrepparttar difficulties encountered through Internet marketing and trying to get your web page noticed in order to increase traffic and ultimately revenues. Some people just blindly pay a lot of money for advertising, and those who don’t have an advertising budget often times do not advertise at all. Both of these are detrimental to your business,

There are many ways to market your products and services inexpensively, so spending a lot of money could be wasteful. If you have no money to spend, you are asking your business to fail by not advertising. There are many areas for free advertising.

There are many options online and offline that will help you spreadrepparttar 137162 word about your business and your product and you will increase traffic and revenues because of it.

Check out offline venues for advertising, like local newspapers, your automobile, college campuses, bulletin boards at supermarkets,laundromats andrepparttar 137163 like. Purchase and pass out business cards. Also, make sure your URL is on every printed material you use in regard to your business whether it is stationary or free gifts. Having your URL out there will help people remember your address and be more likely to check out what you have to offer. This is free advertisement and something you should cash in on immediately.

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