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question about selling

Discussion in 'BlackHat Lounge' started by notanz, Dec 23, 2015.

  1. notanz

    notanz Newbie

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    Greetings guys

    So I have a question. I have recently seen a product for a niche that I think might sell well. I am doing quite abit of research into it, with keywords, competitors etc. This isnt some new fancy product that will revolutionise the industry or anything and their are quite a few sellers of this product on Ebay (which are probably the manufacturers themselves selling them for very cheap), there are also Amazon sellers selling them for cheap as well. There are also a few normal sellers with their own websites that are selling them as their own branded goods, along with a few retailers.

    Now the Ebay sellers who are Chinese sellers are selling a cheaper inferior product made of a cheaper material. The own branded sellers have got the same product but are using a more expensive material. The branded sellers have photographed their products, and websites and made the product to look really fancy and expensive compared to the eBay and amazon sellers, who are just posting images they have found probably from the manufacturers website.

    My question is why would people even want to buy the same product when browsing online. On one hand you have virtually the same product for all intense and purposes selling on Ebay and amazon etc for like $4 then you have a site selling the product which has been marketed to look better for like $60. Dont people always choose to go for the cheaper option if they see it on Amazon etc.??

    The branded goods seem to be selling well for their respective sellers, but im just not to sure why someone would chose to pay 10x for the same product which they can find cheaper at eBay or amazon. Does anyone have anymore insight into this sort of buying behavior?

    I guess this can be for everything you see online and on the high street. Their are hundreds of mineral water companies all selling water, some will go for the cheaper price, and some will buy the more expensive looking water. I guess this can even be saif for clothing someone might buy a Tshirt from Zara for like £30 instead of paying £5 for the same Tshirt in Primark.

    So what I am getting at really is this more about peoples buying behavior and psychology than anything else, and should this stop me from getting into a product even if there are cheaper sellers online?? Also could I beat the other branded sellers at their game if I did the same thing they did and marketed my product to look fancy. Or is this not just they way to go as there are allready people doing it.
     
  2. BreaknBrix

    BreaknBrix Power Member

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    Resellers make a shitload of money so yes,

    1) It is about psychology.
    2) You're projecting other peoples behavior based on your own.
    3) This is a simplified explanation, but people are much dumber online than most marketers understand.

    The research YOU are investing right now to sell a product, is much more than your avg buyer will do when buying a product. If you're a good reseller I'd say this is nearly always the case.

    Simple example. It took me 6 months to accidentally stumble upon a vendor selling something I'd been buying over a year for 5xs the price. I knew A LOT of people buying the same thing for the same price I was. So I took that product and began selling it to them slightly cheaper. Eventually it was outlawed but that was some of the easiest money I made.

    If you just look at something stupid like MMO anodes on ebay. They're rare ruthenium oxide anodes for rare chemical synthesis. Like certain forms of jewelry making. But another use they have is making explosives / fireworks. So immediately you have 2 different types of buyers. One group who is educated in electroplating and making jewelry. Then a 2nd group who just wants these things IMMEDIATELY so they can make perchlorates.

    When you dig deeper, you find people selling these on websites for 2-3xs as much. Cause they know these impulsive and uneducated pyromaniacs wanna buy these things the second they hear they work for turning table salt into an explosive.

    So yes, psychology plays a huge role.
     
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  3. Dbeck19

    Dbeck19 Regular Member

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    Branding is an intangible asset that can create trust with consumers, and whether you could beat branded sellers is down to your ability to execute your strategy.

    If you want to understand why branding is more important than selling something by being the 'cheapest' you should check out Seth Godin.
     
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