what is a good "niche"?

Question

help

Answer 1

do you mean your calling in life, or having fun at something you're good at? finding your niche comes from within dear

Answer 2

That depends entirely on you. Example:- some people may be sales people that can work with a list of leads and a phone and sale their product and close on it all day. some have a niche for leading people to their website by going into chat rooms or advertising on the net. some have a niche for ptint advertising where they can get interested prospects to call a number to a call center that does all of the sales and closes for them because they can not sale, so they have an advertising niche. Some actually have theses little gimmicky niches and believe it or not it works for them. You find your niche ,you get good at it and then you can move on. Eventually you may be good in evey niche there is and when you find yourself in that niche whatever it may be that day you will fit in and be successful at it.

Answer 3

A 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

Answer 4

A good fit. Such as, you've found your niche if you enjoy everthing about your job.

Or, it can be a market niche. Such as a product that you may not think is good, but there is a segment in the marketplace that is needing just that thing. So they found the market niche.

Answer 5

Tne common path to success for many small businesses is establishing themselves in a niche market. Because no matter how hard they try, no large retailer can be all things to all people, there are always going to be segments of the population whose needs for particular products and/or services are going unmet – leaving room for the small business to succeed by meeting those needs.

So how can your small business capitalize on these unmet needs and find and dominate your own niche market? Concentrate on these four basic concepts for niche marketing success:

1. A unique product or service.

For starters, if you’re going to master a niche market, you need to have a unique product or service. Ideally, you want to be the only one selling what you’re selling.

The trick to coming up with such a product or service is to “look on the fringes” for unmet needs.

2. A marketable product or service.

You can create all kinds of wonderful and wonky products and/or services but if no one wants what you’ve produced, what’s the point? Maybe there’s no one selling fried insects from a vending cart on your street, but that doesn’t mean it’s a good idea. The niche market of people who enjoy eating fried insects in this country is so small they wouldn’t even fill a phone booth.

There has to be enough of a demand for your product or service for your business to make a profit. How do you find out? By trial and error or by conducting extensive market research.

I, of course, recommend the latter. If you want to know if there’s a market for dog coats, bamboo flooring or counseling for the Blackberry addicted, the best way to find out is to get out there and ask. Making or buying a lot of something and throwing up a Web site to see if there’s any interest in what you’re doing is for people who don’t want to make money.

3. Choose a niche market that’s available.

Remember, niche markets tend to be smaller so there’s only room for so many players. When it comes to niche marketing, if you try to jump on a bandwagon, you’re only going to fall off the back. For instance, I mentioned the niche market for gay marriages in Best Business Opportunities 2005.

Before you started such a business yourself, you would certainly need to carefully research the competition and the size of the market to see if a new business in this niche would be viable. It might well be better to find a different niche in the marriage or gay markets and make that niche your own.

4. Market, market, market.

Marketing is perhaps more important for niche market businesses than for any other kind, because the niche market business is by definition, unknown and succeeds or fails on making the connection with exactly the right kind of customer/client. If I open a Starbucks, for example, people know right away what that business is about and what kinds of products to expect. And because Starbuck’s market is “anybody who likes coffee”, they really don’t have to worry much about advertising at this point in the game.

But if I open a business providing naturopathic treatments for pets, selling tub/shower conversions for the elderly or providing virtual assistant services to professional speakers, to give just three examples, people won’t know what to expect or even that my niche business exists at all unless I make the effort to reach and educate them. So market, market, market – and once you have a customer or client, make contact on a regular basis.

A unique product or service that will fulfill the unmet needs of a specific group of people – that’s niche marketing in a nutshell. If you apply all of the four concepts above, your small business will enjoy the powerful competitive advantage that mastering a niche market provides.

**susan ward

Answer 6

1) One you know something about
2) One that is deep; e.g. not gambling, but gambling for over 60s in Leeds
3) One that no-one has thought of yet, but that will have demand
e.g. ;-)