Digital Work Without Boss Blog

Archive for September 1st, 2009

• Ewen Chia has launched Secret Affiliate Weapon 2.0 a few minutes ago…http://digitalworkwithoutboss.com/saw2/ #
• New list building event looking for contributors http://siliconpost.com/jvtreasures/go/11/jv #

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How do you find out good products that will sell on-line? First thing we need to do is understand what type of products individuals already have an interest in buying. getting a product with high demand is the most important part in obtaining a good product that will sell, also check out the competition for that product. If there are a million website already trying to sell that exact same product then your chances of being successful with that product are pretty slim.

So how do I find products in high require with low competition? This is the question I hear most often from someones trying to profit from selling products on-line. Well the truth is your only choice is to do some inquiry. There are all kinds of twists and turns along the way that may lead you to think you have a high-demand product or idea. We must be able to comprehend and satisfy the need, wants and expectations of our customers on a certain product that they’re trying to buy. Those three things are the necessities in a purchase. Needs are the fundamental reasons or the minimum requirements consumers are looking for in a product or service. Wants are the determining attributes among many choices. Expectations, on the other hand, are values or intangibles related with a product or service. Expectations are actually part of wants but they become extremely important when products or services are not differentiated.

The next step is obtaining the level of competition for your new found product or service. While societies would naturally define its target competitors, it is actually the consumers who ultimately resolve the competitive frame, or the list related products or services that consumers consider when exercising their purchasing power. We must therefore take the market segment where we can have a potential leadership or at least a strong challenger role. Because the overriding objective of getting into this business is not just to satisfy the needs and wants of our customers but to do so profitably better than his competition. Otherwise, our competition will end up satisfying the customers better than our own interest.

Third element to be considered in finding hot selling products is receiving out the General interest level about the product. Popular interest in a product helps us to gauge where our demand and competition numbers fall into the big picture. Simply saying, if there isn’t much demand for the product, and there isn’t much competition, it would seem that it might not be good a good put up for sale. But the research doesn’t stop here; there is one last thing to be considered to exactly find out the hot selling products that you’ve been looking for. We must also find out how others are advertising those products. If there are a good number of them doing so, it may mean that it’s a good product to get into. Coming to the last phase of the process is analyzing and evaluating all the information that has been accumulated. We have to look at all of the data we have gathered on demand, competition, and advertizing, and make conclusion as how they all balance out.

And here are various factors or aspects that must be measured: (a) not enough demand means not enough someones are going to buy (b) too much competition means not enough of a profit to go around (c) too much advertising drives up the price of pay per click ads, and competition as well (d) not enough General interest, united with low demand, means there may not be a good market even if there is competition trying to make the sales.