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Your Questions About New Market Niches

Sandy asks…

Can anybody help with – Niche Market??

Can anybody tell me how I can go about finding a niche in the consumer product and/or services on the market today?

Just want some guidelines to follow.
Any advice would be greatly appreciated.

Thank you.

New Niche Finder answers:

One of the best ways to do this is to find out what people are searching for.

Some of the places I go to do this can help you uncover hot niches that are highly searched.

Here are some of those places

1. Google Hot Trends ( http://www.google.com/trends/hottrends ) – You can find a list of the top searches on an hourly basis. Some of them are for actual products or niches that you can use to make money and these searches have a lot of traffic.

2. AOL Hot Searches ( http://hotsearches.aol.com ) – Blog that provides analysis on some of the top searches on AOL which is a Google Partner network. They regularly give you consumer products and services in a top ten format so that can really be useful.

3. Browse through shopping engines like Shopping.com and Amazon.com and see what’s hot and what other people are buying.

4. Listen to the news and watch tv. There are some products getting buzz and sometimes they are new products. New products means a lot of money if you can get to it before there are a lot of people who start promoting them.

Also you can see what other people are asking about on Yahoo Answers. If there is a big problem then you can find a product to solve it – you’re in business.

Steven asks…

what is niche marketing?

New Niche Finder answers:

Marketing to small, select group of people.

Chris asks…

What is a market niche?

I tried searching but I can’t find a proper definition. Can anyone explain to me in a more simpler way? ):

New Niche Finder answers:

It’s the segment of a market that a business tries to serve. For example, a metropolitan area may have several different supermarket chains. One might have the lowest prices, but offer only large quantities. Another may have the best service (shorter lines at the cashiers, baggers who will take customers’ bags to their cars). Still another may have the highest quality of meats and produce). A fourth might offer products packaged in smaller quantities for couples with no children and for bachelors like me. The people best served by each supermarket chain are the market niche for that chain, e.g., people who are most concerned with lowest price (in the case of the first chain).

Sandra asks…

Advice on best niche markets?

Would like to build an e-commerce site and looking for fun/weird/unique markets to reach. Any advice, product recommendations or niche market suggestions would be greatly appreciated! Thanks!

New Niche Finder answers:

Well, first you said best. Then you said fun, weird and unique. The best niche markets are those that receive the most search engine traffic.

An e-commerce website should show that you are an expert in that niche. That means you will be writing a lot of content, each of those articles using a popular keyword (or keyword phrase) related to the niche.

What do you enjoy? What do you know that other people might not know? Write down a few potential niches. Use the Google Keyword tool to see how many searches and how many genre-specific keywords are being used in those searches.

A free eBook that might be helpful can be downloaded here:
http://www.homebusinessop.com/tools/NetwritingMasters.pdf

Ken asks…

how to define niche market?

New Niche Finder answers:

Definition:
A {b]niche market is a focused, targetable portion of a market.

By definition, then, a business that focuses on a niche market is addressing a need for a product or service that is not being addressed by mainstream providers. You can think of a niche market as a narrowly defined group of potential customers.

For instance, instead of offering cleaning services, a business might establish a niche market by specializing in blind cleaning services.

Why should you bother to establish a niche market? Because of the great advantage of being alone there; other small businesses may not be aware of your particular niche market, and large businesses won’t want to bother with it.

The trick to capitalizing on a niche market is to find or develop a market niche that has customers who are accessible, that is growing fast enough, and that is not owned by one established vendor already.

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