Before you even think about creating or developing a product, you need to research and make sure there is a market. You need to identify your market and find out exactly what 's out there.

When it comes time to decide on a product to develop, you need to realize that the niche you are researching is something that people want and not need. People are more apt to purchase something they want over something they need.

Why?

People are impulsive shoppers, they make decisions based on emotions. When they see something they want, they buy it based on their impulse and desire to have it. Any purchase based on emotions is an impulse purchase and emotion is what sells!

Where to look?

 

Start your research by going to the nearest retail store that is along the lines of what area of product you were thinking about. For example, food preparation devices are usually carried by home hardware stores.

 

Walk around and carry a notepad. You might be surprised about what you find.

 

Be patient and keep your eyes opened. If you discover something is missing, or hear people complain about a current product, this might be your opportunity!