What Is A Niche Product Vs Regular Product?
Find out what is the difference between a niche product and a regular product offered in the market.
Someone recently sent me an email asking the difference between a niche product and regular product. He has been doing his own research and learning about internet marketing but ended up somewhat confused by the many conflicting information and opinions about the online business.
I salute him for taking the initiative and be responsible for his own learning because truly, that is the only way to succeed online, even in life for that matter. Most of the information on internet business and marketing is available free on the net. All you need to do is knowing what to look for and categorizing your needs accordingly like formulating your own 'lesson plan'.
About the word 'niche', it refers to something that is specific and somewhat rare, hence reflecting its value. It is not easily available, but sought after by a particular group termed as 'niche market'. Do you know also the reason that many experienced online marketers focus on niches is because it is the most profitable? By profitable means, it is easier to make money when you promote or sell a niche product to its niche market compared to the general market audience.
Let's take the example of a floor tile cleaning solution. There are so many cleaning solutions for floor tiles in the market. A regular product would mean a floor tile cleaning solution that cleans any floor surface, without any extra agents or ingredients to make it more effective on certain tiles. A niche product on the other hand, would be a floor tile cleaning solution for, say, the Italian marble flooring called the Botticino. Because of its sensitivities to chlorine and vinegar, the cleaning solution cannot be a general one that contains either chlorine or vinegar.
A regular product, however, as said earlier, would be one that can be applied on tile surfaces that do not have stringent sensitivities on its cleaning procedure.
Now, there will be a market of people who own homes with Botticino marbles hence they will form the niche market who will be looking for such a niche product. The reason why they are called niche markets is because such specialized product is not consumed by the general market because they tend to be abit pricier. Since the demand is smaller, the availability of the niche product is also scarce, hence creating that hungry niche market searching high and low for it, ever ready to part with their money to purchase when its available.
I hope you understand the difference between a niche product and regular product now and why niche products are more profitable.
A very useful resource
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