According to the branded product selection method, the first step we need to do is to determine a vertically segmented product market, that is, in which category we are going to dig deep and carry out branded operations. We generally call this work the initial screening of product selection.
There are many methods for mining the target market. The more popular one is the data mining model, which observes the changes in data to find out which categories are worth digging deep. Recently, with the influx of various Amazon product selection tools into the market, sellers can know which categories of Amazon are selling well, which categories have potential, and which categories have good growth momentum with just a few clicks. Sellers are increasingly using various product selection tools, which will bring convenience while also causing bad consequences. Once some good products or good categories appear, a clustering effect will be formed. Since the conclusions of data mining are usually the same, it is easy to turn the blue ocean into a red ocean overnight. This trend has been particularly obvious recently. Slowly, it has become a job of competing for operations, and novice sellers and weaker small and medium-sized sellers will be defeated. In view of the above situation, I recommend that novice sellers adopt another market mining method, that is, to find specific product categories through various needs around them, rather than telling you which one is a popular product through data.
How to mine market demand specifically? Generally speaking, there are two methods.
The first is based on your own interests and hobbies. For example, if the seller likes small animals and has pets, then is the pet category a priority for such sellers? For another example, some male sellers like cars very much and know all kinds of cars like the back of their hands. So are categories such as auto parts and motorcycle parts their alternative targets? The advantage of choosing the target market based on interests and hobbies is that sellers will have a good understanding of their products and target consumers of their products, and they can also put forward many constructive suggestions for the confirmation and improvement of the final product in the later stage, and at the same time, they can better build brands and interact with consumers.
The second is to choose the target market according to the problems that need to be solved. We always encounter various problems in life, and we are often overwhelmed by these problems and don’t know how to deal with them. However, many people do not realize that these problems bring not only troubles, but also inspiration for our product selection. For example, if our homes are often invaded by pests, then at this time, should we focus on pest killing products? The advantage of finding product categories with a problem-solving orientation is that the conversion rate is relatively high, because consumers buy products to solve problems. For example, consumers buy mosquito killer lamps to kill mosquitoes, so their willingness to buy such products is stronger than other products.