Successful internet marketing involves finding a niche that you can service. This means providing it with the things required by individuals making up the niche.
To understand what a niche is, it is easiest to start at the top.
Industries and Markets
An industry can be defined as a companies producing a particular type of goods. There are many types of industries. If you think in terms of trade publications, each trade publication represents a certain industry.
Each industry sells goods to a particular market. A market is a group of people who desire goods from a particular industry.
An example of an industry are companies that produce products for pets. Their market is defined as pet owners.
Niches
Using the pets industry example, there are markets defined by types of pets, for example, cats, dogs and fish. There are industries that make food for pets and industries that make products for pets such as collars and leashes, or aquariums.
An industry can can continually be segmented by the products groups and markets. Each product group can further be segmented by product groups and markets. And each of these can be further divided. At some point the industry can no longer be subdivided. This is know as a niche.
A niche is a small portion of an industry. An example niche in the pet industry would be dog training.
The market subdivides along with the industry. The market for the particular niche is a unique group of people looking for product specific to the niche.
In practice, a niche is really defined as the audience, or market for the goods, and not the other way around. If there were no market there would be no goods for the market.
Niches and Internet Marketing
To be successful in Internet Marketing, you need to focus on who your audience is and what they want. You need to target a particular niche.
One of the ways to select a niche for you to market is to find something that you are interested in. The more passionate you are about it, the better. The advantage here is that you are probably already an expert in the niche, and you know the audience.
If you are short of passion, another method is to find something which is popular at the moment. You will have a ready market. All that is left is for you to become a temporary expert in that niche.
Understanding niches is just one step of Internet Marketing. If you would like more help with understanding niches and other aspects of Internet marketing join the Wealthy Affiliate University.
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