Niche Marketing--Why You Should Have Started Yesterday
Niche marketing really means targeting one specific group to manufacture and sell products to. This is done for a few reasons: the product will be a new idea, the product will make the niche marketers new money each time one is sold, and the company will have more control over how the product is made and sold. Niche marketing has made people some great money. Unfortunately, niche marketers are feeling the crunch of the economy just like everything else, so niche marketing is becoming hard now as well.
Early Marketers Those who started niche marketing years ago probably don't have a large problem staying alive. Those who began a few short years ago and began to get big just as the economy saw trouble naturally aren't doing too well. Lastly, niche marketers trying to kick off business now will have the most chance of failure because the economy barely allows any new businesses anymore. This is why we have to find ways to work around the tough times, and this can be done a few different ways.
Dodging the Money Crunch The first thing that needs to be done, obviously, is to reduce prices. This can be done by finding a cheap manufacturer for your products, finding a cheap way to sell your products, and not making as many products as you normally would. There will be a slightly higher demand for your products, so more of them will sell. Your prices will be lower, but more will be sold. This pretty much evens out the money you have lost. You can manufacture more cheaply by using less materials per product (eliminate any unnecessary materials), using cheaper products, and only paying for the necessary part of the manufacturing. If you feel that you could make the product cheaper yourself or somewhere else, look around. The game at this point is all about saving money. Another thing you can do is begin manufacturing products that are more of a necessity rather than a luxury. For example, starting selling tooth brushes and deodorant rather than video game controllers. People will always continue to buy these needed items. One last thought: try taking your business to the Internet. You'll find going online will save you time and money, and you will probably generate more online sales than offline sales.
Why You Should Have Started Yesterday The answer is simple--the economy isn't what it used to be. There has been a drastic decline in products being sold throughout the last four years or so. People have had less money to spend on luxury items, but rather only on necessary and needed items. Many companies have gone under due to the economy and loss of profits and money. It is a sad sight, but it's true. And no one knows when it will end. Early niche marketers are the ones with the best chance of survival, but if the new companies play by the rules, they can still succeed as well. I'm in no way telling you not to begin your niche marketing venture. Do what you think will work best and give it your all. Lawrence Johnson (c) http://www.pluginprofitsite.com/main-20515 http://www.360manathome.com/ P.S. I Love you