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Now, [link widoczny dla zalogowanych] the second thing that must be considered in finding “hot” products to sell are the level of competition or the [link widoczny dla zalogowanych] market shares do your product will have. Market share or level of competition means the ratio of your brand sales versus the total market sales. While companies would naturally define its target competitors, it is actually the consumers who ultimately decide the competitive frame, or the list related products or services that consumers consider when exercising their purchasing power. We must therefore choose the [link widoczny dla zalogowanych] 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 [link widoczny dla zalogowanych] is not just to satisfy the needs and wants of our customers but to do so [link widoczny dla zalogowanych] profitably better than his competition. Otherwise, our competition will end up satisfying the customers better than our own interest.
The third factor to be considered in finding hot selling products is finding out the general interest level. General interest in a product helps us [link widoczny dla zalogowanych] to find out where our demand and competition numbers fall into. In other words, if there isn’t much demand for the product, and there isn’t much competition, it would seem [link widoczny dla zalogowanych] 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 the hot selling products that you’ve been looking for. Try to see how others are advertising [link widoczny dla zalogowanych] 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. We have to look at all of the data we have collected on demand, competition, and advertising to make the right decision.
“What should I sell? What products are hot selling? These are the questions most people are trying to [link widoczny dla zalogowanych] find an answer in order for them to make the definite decision. And if we really want to know the answer to this question, our only choice is to do some research. There are all kinds of twists along the road that may lead you to think you have a high-demand idea. We must be able to understand and satisfy the need, wants and expectations of our [link widoczny dla zalogowanych] customers on a certain product that they’re trying to buy. This three are called the basic needs or minimum requirements in a purchase. Needs are the basic reasons or the minimum requirements consumers are looking for in a product or service. They are called the qualifying or “gatekeeper” dimensions in a purchase. Wants are the determining dimensions among many choices. Expectations, on the other hand, are values or intangibles associated with a product or service. Expectations are actually part of “wants” but they become extremely important when products or services are not differentiated.
To locate products that sell online, we need to understand what people already want to buy. Finding a good choice of idea or product is always accompanied by interfacing the demand for the product in the current market and the level of competition or market share that the product will be having for a long period of time.
And here are several factors [link widoczny dla zalogowanych] or aspects that must be measured: (a) not enough demand means not enough people are going to buy (b) too much competition means not enough of a [link widoczny dla zalogowanych] 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, combined with low demand, means there may not be a good market even if there is competition trying to make the sales.
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