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Profitable Niche
By Anmol Pandey
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About this ebook
If you don't know the process for discovering hot niche markets, then you will continue to work hard and never achieve the success you are looking for.
If you want to find the right niche market, that is proven to be profitable, you have to learn the process for niche market discovery.
Read more from Anmol Pandey
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Book preview
Profitable Niche - Anmol Pandey
Contents
Chapter 1.....................................................................................5
Types of market target approaches.................................................................5
Target Market................................................................................6
Secondary Market............................................................................6
Niche Market................................................................................6
Main Target Market...........................................................................6
Secondary Market............................................................................7
Niche Market................................................................................7
Chapter 2.....................................................................................8
Niche Products.................................................................................8
Chapter 3....................................................................................10
Niche Product Ideas...........................................................................10
Chapter 4....................................................................................12
Targeting with Niche Products...................................................................12
Chapter 5....................................................................................14
Identifying Your Passion........................................................................14
Chapter 6....................................................................................16
Choosing the Niche............................................................................16
The niche needs to be lucrative.................................................................16
The niche must be interesting to you.............................................................16
The niche must have a longer life...............................................................17
Chapter 7....................................................................................18
Analyzing your Niche Potential...................................................................18
Chapter 8....................................................................................20
Profit Potential for Your Niche....................................................................20
Is there a demand for your product or service?.....................................................20
Is there any competitor that is already targeting your niche segment?..................................21
Does you niche product has a high lifetime value?..................................................21
Chapter 9....................................................................................22
Analyzing the Competition in Niche Market.........................................................22
Chapter 10...................................................................................24
Niche Research- Why is it a Big Deal?.............................................................24
Read Magazines............................................................................24
Make use of E-bay website....................................................................25
Interview Real Prospects......................................................................25
Enter the Target Market.......................................................................25
Check out your Competitors...................................................................25
Chapter 11...................................................................................26
Ideas for earning high profits through niche product
............................................................................................26
Chapter 12...................................................................................28
Successful Niche Marketing Tactics...............................................................28
Targeted Advertising.........................................................................28
Tell the Truth...............................................................................28
Offer Added Perks...........................................................................28
Build Relationships...........................................................................29
Follow an on-going Niche Program..............................................................29
Chapter 13...................................................................................30
Viral Marketing for Niche........................................................................30
Chapter 14...................................................................................32
How Niche Marketing Is Different from General Marketing.............................................32
Chapter 15...................................................................................34
Strategies for selling niche products online..........................................................34
Chapter 16...................................................................................36
Testing Your Niche Market......................................................................36
Chapter 17...................................................................................38
Advantages of a Niche Market...................................................................38
Low Competition............................................................................38
Low Start-up Costs...........................................................................38
Customer Selection and Satisfaction.............................................................39
Chapter 18...................................................................................40
Common Errors in Niche Marketing...............................................................40
Offering Niche product to a broader audience .....................................................40
Ignoring the beta testing stage.................................................................40
Differences between product benefits and consumer’s interests.......................................41
Miscalculating the size of a niche segment........................................................41
Malmonetizing given niche market..............................................................41
Chapter 19...................................................................................42
Niche in a Glimpse.............................................................................42
Chapter 1
Types of market target approaches
Identifying the target market is not an easy task. This is indeed one of the vital elements that tells you about the market you want to target and how it can bring maximum benefits to you and your consumers and prospects. In other words, it will be easy for you to keep your customer needs and want a much better way if they are all grouped according to their tastes and desires. There are various types of markets that can be targeted. They are discussed below.
Target Market
This type of market consists of your main customers who have identical needs and desires. Even though you have not fully described their needs, you are still in a better position as you realize with whom your target market is. It can be on a larger scale or a smaller scale. However, more than its size is their need which will play a decisive role in the end.
Secondary Market
This is a market that is associated with your target market; But it's not a segment that produces the majority of income. For example, a company that makes
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