
Many folks who operate online businesses need to find products that they understand and industry niches that they have expertise with. Of course this is not all, as one must also understand their market and get into the buyers head and ask what are they thinking?
What would an online entrepreneur charge for an online product once they figure out what they are selling? Well, let us take a minute and look at some examples. In this case study let us consider a Home DIY Do-It-Yourself Carwashing Kit and a DIY auto detailing kit. Moreover lets us consider price points and target the higher-end luxury car owner as our main customer.
As one online entrepreneur rightfully points out; If Car service the home DIY Carwashing Kit is to be embraced by lower income clientele who love their cars equally as much as the luxury car owner then the price would have to be lower otherwise, well they would not get too excited about spending $100.00 for the kit.
Yes, there is a huge market of lower income DIY and this market uses dishwashing soaps to wash, but they might spend $20.00 or maybe even $30.00 for a good auto detailing and car wash kit. Generally they are not buyers for such things on the Internet, but that is also changing as more people get online with their own MySpace or Blog accounts.
Even so lets not forget that this lower income market does spend much more money on their automobiles per dollar earned than any other segment of the DIY market. Remember a guy who lives in a shack and drives a $50K SUV, this is quite common in the US, the citizens love their cars. The Luxury crowd would gladly spend $75 to $100.00 on the other hand without batting an eye if they discovered a website that offered such.
One way to market automotive detailing kits might be with the sale of the automobile, give the dealer half and book it into the sale, this way it all gets financed and they are more apt to include this into the price? That worked for us when selling services plus products? Maybe a thought?
Remember that just because you are an automotive online business does not mean that you are limited to online sales, after all why do you care where the money comes from. You just want it in your account right? Perhaps you might consider this in 2007.