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What To Sell On eBay :: Market Reserach Wizard Review

Market Research Wizard Review

The Market Research Wizard, created by Chris Malta and Worldwide Brands, provides an inexpensive and reliable method for starting a successful online business - whether an auction business like eBay or a Yahoo store. I received this email from an interested reader and it's important because it so clearly illustrates why so many people get frustrated when selling on eBay:

"I am really interested in your course on making money on ebay and the other auction sites, however I have a question? Could someone please explain to me how you can really make money? This is what I mean, I have noticed that on ebay there are literally thousands of people selling almost the same products, and I have noticed so many auctions of ebay sellers whose auctions have ended, and they have zero bids not even ONE bidder. Lots and lots of sellers are not selling their products. So this is my question, and I am asking for an honest answer. How can your course help me to be a seller that gets my products actually sold on these auction site with so many people selling the same things?"

Successful selling of anything, anywhere, begins with a balance of supply and demand. And the Market Research Wizard will do that for you, easily and elegantly. Let's see how it works.

Market Research Wizard Step 1: Demand

In this case, I chose Ferragamo shoes and want to understand whether there is a demand for them. There's not much point in trying to sell a product on the Internet if there's no one out there who's interested in buying it!

The software tells me the number of recent searches, meaning in the last 15-30 days. It also tells me the search terms that people have used. However, I want to narrow my search even further, because many of the shoe terms above include other brands, so by limiting my search to "Brand name", I eliminate all other shoes.

My results are more precise, and the keyword list has another value: the main way that buyers search eBay is with keywords. So, I now have more ideas of which keywords to use in my listing titles. Great stuff!

Market Research Wizard Step 2: Competition

Competition with the Wizard is figured from three different sources: Yahoo stores, eBay and Google. These are indeed the most important shopping sources on the net and the best way to get accurate information about our competition. There's no use in having great demand in our compassion is so overwhelming that we can't compete without a vicious price war that is in no one's interest.

Market Research Wizard Step 3: Current Advertising

The people on the Internet who are the most serious about selling products are those who pay for advertising. The most common way to do this is to use a PPC (Pay Per Click) advertising system. If many people are paying to actively advertise a product on the Internet, there is probably a good market for that product. So, if you see a number of results here on the advertising page, that's a good indication that you are searching on a product that will sell well. However, too much advertising can indicate that there is too much competition for that product market. The Wizard uses Google AdWords, Overture and FindWhat for results.

Market Research Wizard Step 4: Supply & Demand Analysis

The Wizard clearly tells me that Ferragamo shoes are NOT likely to be a very successful item to sell. Yes, there's lots of demand but there is also intense competition. Sometimes students will tell me how "disappointed" they are when a cherished idea has a low success probability. The question to ask ourselves is: "Do I want to make money or do I want to be right?"

* If there is no demand, it doesn't matter what you are selling! No one is going to buy it.
* If competition is too high, then we are going to end up in totally price driven models - especially on eBay which is perceived by millions of buyers as a 'wholesale price' site. Getting into a price war, fighting for a tiny scrap of business, is NOT where we want to be!

Truth: there are billions and billions of products on this beautiful planet. All you need is a handful to make money.

Remember the question above? "How can your course help me to be a seller that gets my products actually sold on these auction site with so many people selling the same things?" The answer is that you don't want to be selling what lots of others are selling. Most sellers will never bother to learn how to do their homework ahead of time. If you do, you will stand head and shoulders above the crowd!

The Market Research Wizard has other features but those above are some of the highlights. The software is reliable, easy to use and a complete and total bargain.

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Market Research Wizard

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How To Sell On eBay