Your Questions About Niche Marketing

Jenny asks…

What is a niche market?

Colin answers:

A niche refers to a ‘gap’ in a market. I.e. A potential new market where there are no competitors.

If you have a product that enters a niche market it needs to be able to appeal to consumer to generate a demand. Almost every market starts off as a niche market.
As new technology advances occur and innovations increase companies are able to build their learning curve while other companies wanting to enter the same market other begin to introduce similar products to combat the original product that entered when the market was niche.

Normally, for the company / product that is the first to enter a niche market, they gain the ‘first mover advantage’ which is a major competitive advantage. Competitors begin to enter the same market as they believe that niche market has vast potential but they will always need to remeber that the original (first mover) will always be one step ahead of the game. The first mover will normally have a better understanding of the market environment and their consumers and will also have built their learning curve to an extent where their innovation process will always be one step ahead of any new market entrants.

Furthermore, if companies enter a niche market and are successful, consumer may refer to their brand as the product rather than the product name itself – this normally occurs when such product have cleaver marketing tactics – i.e. IPod saw a niche market in Video MP3 – Due to their success a number of competitors such as Sony have imitated their innovation but since iPod were the first, their learning curve is so ahead of the rest, they are introducing even newer, more innovative products into the market when their competitors are only just releasing their first MP3 with video which when compared to the products IPod are introducing at the same time, seem generally outdated. IPods success in such niche has reflected further on their first mover advantage. Consumers rarely refer to ‘video MP3s’. Instead, the majority refer to the IPod, even though the product they end up purchasing may not be from the iPod brand – what a form of brand development ay!!!

So there you go, a short definition of what a niche market it and a few reasons why its important for companies to capitalise on such opportunities.

John asks…

What is online niche market?

Colin answers:

I’ll give you some ideas of niche markets. Think about cameras, this is a very large and competitive market. Then think about underwater cameras, or waterproof cameras. Those would be a niche product. They are not without competition though. Picking a product or service to promote is where most hopeful internet marketers go wrong. You must pick a product with enough search traffic, yet without overwhelming competition. Then you have to rank for page one of Google for the keywords that potential customers will use to find the solution you are offering them. You must find keywords you can compete with, that have decent search traffic, and that are relevant to your niche site’s content.

If you get any of that wrong (plus a dozen other things) your campaign will suffer. Good luck and work it like a mad man (or woman).

Donald asks…

Which search engine or meta search engine should I use to target the american market only? Is?

there a trend displayed by the people coming from the different states? MY OBJECTIVE IS TO BUILD A NICHE MARKET FOR MY ONLINE GAMING WEBSITE!

Colin answers:

Visit experienceadvertising.com. They have whole bunch of links and the ocean of free info for you.

Robert asks…

Who do you think will win the grand national 2010? Niche Market maybe…?

just want to see what opinions people have.. :)

Colin answers:

Well i’ve placed a bet on comply or die, and character building.

Fingers crossed?

Maria asks…

I need a web designer for my eBooks, where do I find one?

I do not have money to hire one, but I would be willing to split commissions. The ebooks need to be sold on Clickbank.
5 ebooks are niche market books which will be ready to sell before summer’s end. One book is almost ready, so I would like to get it started quickly.
The niche books are targeting certain business opportunities, that help those people advertise their businesses specifically.
The ones I plan to write after those 5 are on various subjects. Roulette, Health & Wealth, and some others.

Colin answers:

A great free resources in Craigslist.org. Also, if you use Yahoo or Google you can search for a list of firms. Elance.com is a good resource for finding short-term pay help too. And finally, my best suggestion is to post a flyer on a college campus – you’ll find lots of students with the proper knowledge.

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