Monday, August 1, 2011

Where to look to find niche markets?

There really is no secret recipes for finding gaps in the market. Otherwise, everyone begins to fill the gaps in the market until there are no spaces

Observation is key.

Look what you use now. What products are needed but can not find in the market. Or the product may exist, but I do not do a good job based on what you really need.

For example,

Spanx Sara Blakely was invented when I was frustrated with visible panty lines showing pants and light colored socks which prevented him from open-toed sandals. I wanted to sculpt the body means that could lead to shorts and sandals. Now, Spanx is a business of several million dollars

Talking with other people.

Ask what they need, they have been trying to find but can not find a satisfactory product to meet your needs. Many inventions came from observing and learning from others.

Consider this

If people are looking for and not found, then this is an opportunity waiting to be exploited in the market. It is not easy what they really need to look far.

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