What Is a Niche Market?
Before we go tramping off with our list in hand, buying domains and putting up websites, let’s try to get a better idea of what a niche market is. If you go to DMOZ and click on a category and then a subcategory and then a sub subcategory, you are getting closer to a niche. We want to know not only if it is a niche but is it a niche market that we want to pursue?
There is a difference between a niche and a niche market. Go to your dictionary and look up the word niche. We are looking for group of eager beaver buyers in a particular marketing subcategory.
My Number 3 Son serves a niche market in musical instruments. I think he has every member of the niche in the world on his mailing list. He knows them by name and he talks to them on the telephone. They love what they are doing and my son is a major supplier of what they want. So it is a small group of people with a common interest who buy and sell to each other. And they pay big bucks for some of my son’s products. He advertises some of his products on Ebay, not only for sales but to attract people to his website when they see his email address which contains his store name. He did not start this business on the Internet but he expanded it on the Internet just as many storefront owners have done.
Bread is not a niche market. You can buy a loaf in grocery stores and quick stops. But if you make a certain kind of bread that you package in one of those round cookie or cake tins like the one you save your coupons in, you may well have a niche market.
That “weird” guy that lives by himself in the canyon, is probably a member of a niche market. People who read “Barb-less Hook Magazine,” are probably members of a niche of barb-less hook fanatics.
A niche might be a group of people with the same problem. They may not know each other except locally at the woman’s sewing circle, but they are in a niche. Say you are in that group of mother’s that keeps pulling the baby’s thumb out of its mouth. You want to know how to STOP THAT KID FROM SUCKING HIS THUMB! You are going to fine a way to fix that problem. You would even sell the kid to fix the problem. You are all setup for a niche marketer selling, “Stop Thumb Sucking Now!”
Now if you have some idea of what a niche market is then lets get on with it. We are not finished with my initial list.
Next Page: The First Expansion
Before we go tramping off with our list in hand, buying domains and putting up websites, let’s try to get a better idea of what a niche market is. If you go to DMOZ and click on a category and then a subcategory and then a sub subcategory, you are getting closer to a niche. We want to know not only if it is a niche but is it a niche market that we want to pursue?
There is a difference between a niche and a niche market. Go to your dictionary and look up the word niche. We are looking for group of eager beaver buyers in a particular marketing subcategory.
My Number 3 Son serves a niche market in musical instruments. I think he has every member of the niche in the world on his mailing list. He knows them by name and he talks to them on the telephone. They love what they are doing and my son is a major supplier of what they want. So it is a small group of people with a common interest who buy and sell to each other. And they pay big bucks for some of my son’s products. He advertises some of his products on Ebay, not only for sales but to attract people to his website when they see his email address which contains his store name. He did not start this business on the Internet but he expanded it on the Internet just as many storefront owners have done.
Bread is not a niche market. You can buy a loaf in grocery stores and quick stops. But if you make a certain kind of bread that you package in one of those round cookie or cake tins like the one you save your coupons in, you may well have a niche market.
That “weird” guy that lives by himself in the canyon, is probably a member of a niche market. People who read “Barb-less Hook Magazine,” are probably members of a niche of barb-less hook fanatics.
A niche might be a group of people with the same problem. They may not know each other except locally at the woman’s sewing circle, but they are in a niche. Say you are in that group of mother’s that keeps pulling the baby’s thumb out of its mouth. You want to know how to STOP THAT KID FROM SUCKING HIS THUMB! You are going to fine a way to fix that problem. You would even sell the kid to fix the problem. You are all setup for a niche marketer selling, “Stop Thumb Sucking Now!”
Now if you have some idea of what a niche market is then lets get on with it. We are not finished with my initial list.
Next Page: The First Expansion
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Vindican
Premium
TJ great post showing that indeed, the best niches may be right under our noses every day. I uncovered a great one today based on a look at my spam e-mail box -- i was actually looking for a real e-mail and of course got sidetracked when I saw a particular subject line of a spammers e-mail. After 15 minutes in Jalaaxy, it's a perfect niche product they were pitching (spammers are annoying but not stupid), I cannot wait to get started on it.
