1- Markets

The market contains everyone and everything – it is where you will position yourself as a marketer.

You will place yourself within a market but you wouldn’t sell to the market – it’s way too vast and you wouldn’t be heard.

A Market is typically one word and is extremely broad.

Market Examples:

Sport
Health
Fashion
Travel
Weather
Food
Language

A market has two tiers inside it:

• Niches
• Micro Niches

Think of the market as an orange – the whole orange is the market

These are big vast spaces that you would get lost in if we wern’t more specific.

Let’s choose the HEALTH market for the remainder of this lesson.

2- Niches

What is a niche?

A niche is simply a segment of the market.

If we peel the skin off the orange and go down a layer you’ll find little segments of orange – these are your niches

Sticking with the Health market lets look inside it – what are some of the niches inside a Health market?

If we were in the health market we could branch off in so many directions – fitness tips, healthy food recipes, lifestyle advice etc… we don’t need to talk to everyone in the health market just the people within our niche.

However, a niche is still too broad to create a web business.

We need to go down into the next level which are micro-niches.

3- Micro-Niches

What is a micro niche?

A micro niche is simply one of many segments that make up the niche.

if you take the skin off the segments of an orange you’ll see all the little juice follicles – these are your micro-niches

In business a micro-niche has to do two things:

i) Solve a problem

ii) Speak to someone directly

So, in the Health market we could choose Exercise Tips as a niche and more flexibility for women over fifty as a micro-niche

Does this micro-niche solve a problem?
Are you speaking to someone directly?

My answer would be YES – and this is where you want to be when you start an online business.

It’s now time for us to find our market, niche and micro-niche.