New eBay retailers are often overwhelmed with all the choices they have to make ? what to sell, what to charge, how to list an item. Thankfully, there are numerous tools available to answer those questions. EBay sold the data on every sale they've ever made to various companies. Those companies, in turn, created tools to interpret that data and spot trends and patterns in it. According to Anthony Sukow, CEO of market research giant http://Terapeak.com, ?Having access to eBay data empowers you with respect to the market.?
What Can Market Research Tell Me?
You never want to sell a product without researching it first ? it's like taking a test without studying. Only instead of getting a bad grade, you lose the time and money you invested. There are some things you need to know that you'll only learn by researching:
? Is there a market for this product, and can I compete in it?
Most market research tools let you see how many of an item sold recently and how long they were listed before selling. Look at the supply and demand. If there is too much supply or not enough demand, consider finding other products to sell.
? Is this the best time to sell this product?
Some products are seasonal and these are fairly intuitive. But sometimes market data reveals surprising trends: black iPods may be outselling white ones by more than double. A celebrity may have gotten some PR that sent the value of their merchandise soaring.
? What can I get for this product?
Market research shows you the average price people are getting for an item. As you begin recognizing the value of various products, you'll know whether something's a good deal and what it will bring on eBay. You don't want to get caught with a product you can't make a profit on ? or worse, end up taking a loss.
? How should I list this product?
Market research tells you what set of optional listing characteristics brought the best prices for a particular product. You can see what an item went for in an auction versus what it sold for at set prices. You can see which features were used ? bold, highlight, gallery, etc. ? and what final prices they brought. You want to take all this into account when deciding how to list your own items ? why waste money on features that don't bring in better prices?
? Who's buying this product?
Market research gives you the demographics of all the people who've purchased the product you're selling ? genders, ages, and geographical regions. Knowing exactly who you're selling to lets you can plan your marketing strategy accordingly. Even the terminology you use to list an item will vary from group to group.
States Sukow, ?Understanding your market is fundamental for any smart business. Use knowledge to empower your purchasing decisions.?
Until someone sits in the driver’s seat, turns on the ignition, puts it in gear and actually drives it, is it a car or just an assembly of metal, plastic, glass, rubber, and electronics? Think about this.
No, really. What good is the soft craftsmen-stitched leather until someone actually sinks into the seat? And the hand-crafted bird’s-eye maple veneer trim isn’t real wood until one runs his fingers over it to feel the soft grain. What’s the point of a multi-speaker zillion-watt sound system until someone pops a Pavarotti or ZZ Top CD in the player and makes all the windows shake?
What exactly does “Dynamic Stability Control" mean to an inanimate thing strapped down on a flatbed? And what’s the use for those 231 horses under the bonnet (it’s a British car!) if no one’s giving them a chance to haul the chariot like a bat out of hell?
“Ok, what’s your point Daniel?" I hear you.
My point is that maybe all things are really nothing until something is DONE with them by somebody, somehow, somewhere, somewhen. My point is that desires, ambitions, ideas, plans, projects, dreams and goals are NOTHING�"until some ACTIONS are taken, until passionate energy is deployed, elbow grease is used, sparks of electricity are produced.
Just like that Jag is nothing more than an expensive heap of assorted parts�"really totally useless�"until someone turns on the ignition and starts driving it, using it for what it was meant to DO. Then, and only then, in my opinion, it becomes a CAR!
Here’s another thing that needs ACTION to become something: knowledge. There are a few statements I hear repeated over and over that drive me nuts because they are either fallacies or half-truths. Here’s one of them: “Knowledge is Power"
That’s a crock! It’s not true. Here’s the truth: knowledge is power ONLY when it is combined with ACTION!
Another truth is that much of the information you find in the articles here you know already. A lot of it is common knowledge, but the problem is, it’s NOT common practice. The difference between the two is a simple but powerful six-letter word: A C T I O N.
If you’re reading these articles because you want to flourish on the road to business success (or as I like to spell it, BUSINE$$ SUCCE$$) you must keep in mind at all times that truism from business philosopher Jim Rohn; “Success is a DOING!" Success comes from DOING�"not merely knowing!
Here’s a simple example (some would say ‘simplistic’…). Just bear with me.
Let’s say your printer is out of red ink�"which means you can’t print your letterhead. You KNOW that a new ink cartridge will fix the problem. And you KNOW you have a coupon in your drawer for a 50% discount at ABC Office Supplies. You KNOW where the store is located. You KNOW how to get there. You KNOW how to ask for it and pay for it. But right this minute you still can’t print your letterhead.
That’s because you can’t stick knowledge in your printer and make it work. All that knowledge has very little power to fix anything. You need the actual cartridge.
Ok, let’s say you ACTED and got the cartridge, got home, and put it on the shelf next to the printer. Well, now you KNOW where it is, and you KNOW you’ll be able to continue with your work after you install it, and you KNOW how to install it, but it won’t do you any good to KNOW all that until you actually perform the ACTION of installing it in the printer … you KNOW that, don’t you?
So, the (blatantly obvious) point I want to make here is that none of the valuable knowledge you’ll gather from the articles you read will bring you any personal or professional success unless you put it into PRACTICE. Period!
Both Chris Malta & Robin Cowie & Daniel St-jean are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Chris Malta & Robin Cowie has sinced written about articles on various topics from Computers and The Internet, Free Credit Report Score and Computers and The Internet. Product Sourcing Radio is Created and Hosted by Chris Malta and Rob Cowie of WorldwideBrands.com, Home of OneSource: The Internet's Largest Source of Genuine, Factory-Direct Wholesalers for online sellers.. Chris Malta & Robin Cowie's top article generates over 74000 views. to your Favourites.
Daniel St-jean has sinced written about articles on various topics from Advertising Guide, Personal Finance and Networking. “Your income will never exceed your personal development" a guru wrote. Want to be a better salesperson? First you ought to become a better person. You’ll find many more helpful personal (and professional) development articles on this website:. Daniel St-jean's top article generates over 12100 views. to your Favourites.