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High Demand, Low Demand

By: SimpleMarketResearch.com

Special Excerpt from Simple Market Research!

The classic retail rule-of-thumb, sell products with high demand and low competition, makes you think that products simply fall into two generalized categories: "High demand products" and "Low demand products".

It makes you think that high demand products are the only products worth selling and when comparing demand numbers the obvious choice would be to pick the product that yields the highest count—but that’s not true by a country mile in the world of online selling.

Consider this table of product research results:
Folding Chair = 17,000 search count
Garden Gnome = 8,500 search count

In the example above, if you pick a product based on the highest demand you would determine that folding chairs are high demand products and garden gnomes are low demand products—therefore garden gnomes would be bad products to sell and folding chairs would be good products to sell.

Now consider this table of research results:
Camping Tent = 39,000 search count
Folding Chair = 17,000 search count

In this table, now folding chairs are the 'bad' low demand product and Camping Tents are the high. You could do this all day long; playing king of the mountain looking for the products that have the highest demand count and thinking that all of the products with lesser numbers are not good products to sell.

This kind of thinking trips people up all the time. They get in a rut with their research constantly looking for that product with biggest numbers and ignoring all others. It becomes an endless cycle that becomes both confusing and very frustrating."Demand" numbers are relative.

Remember: Don’t dismiss product ideas based solely on low search counts. Compared to most common mainstream products, Niche Products will show a "Low Demand". (because Niche Products appeal to a very targeted group of consumers!)

***This has been a special excerpt from the eBook Simple Market Research. For full step by step training training and tutorials visit: SimpleMarketResearch.com