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The following article was published in our article directory on December 31, 2012.
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A Good Market Has These 11 Characteristics

Article Category: Business

Author Name: David Cameron Gikandi

A Good Market Has These 11 Features

Not all markets are created equal. Some are bigger, better and more lucrative than others. Knowing ways to evaluate a market resembles knowing where to go fishing for an excellent catch.

Use these 11 qualities to examine any type of market with ease so that you can take your business where there are the highest chances of success. A rising tide floats all boats; a fantastic market lifts every business up.

To assess your market, get a pen and piece of paper and go out and research the following 11 attributes. Rate how well that market scores, on a scale of 1 to 10, on each of these characteristics, and then see if the total score makes you pleased.

Here we go:.

1. Size. The bigger the market size, the much better.

2. Urgency. The more quickly people require the items in that market, the better. For instance, pet rocks have no urgency, however medication does.

3. Speed to market. The faster you could go from getting the preliminary concept to beginning to make sales, the better.

4. High pricing capacity. The higher you can charge per product, the better.

5. Low cost of obtaining new customers. The simpler and more affordable it is to obtain new clients, the better.

6. Low expense and ease of delivering. The less costly and easier it is to deliver your product, the better.

7. Originality. The more unique your product is (or how you deliver it, or how you package it), the better.

8. Low upfront investment. The less resources you need to test the market, build the business and get started, the better.

9. Back-end and up-sell capacity. The more relevant products you could offer to your existing customers, the better. You do not wish to go into business whereby you can just sell one item one time to each client then that's it. There is no growth possibility there. You should be able to continuously sell the exact same customer multiple products over time.

10. Evergreen capacity. The easier it is to continue selling and selling the same product, the better. For example, an item that can be sold for a lifetime, like toilet paper or frying oil, is better than one that is sold just once, like pet rocks.

11. Addressability. The simpler it is to reach and interact with your market, the better. For instance, does your market congregate in "pools" like mailing lists or radio stations or spots you can get access to?

Exactly how well does your market score on each of these points?

Keywords: market characteristics, good market

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