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Throw in the towel on that product, and move on - but if it's one that truly is ideal for your own list or a highly centered, unique niche starving for that product or solution, that appears rather a waste.
Affiliate promotion has been a contributor to the upward push of many corporations online, including Amazon.com. Amazon.com was one of the first adopters of internet marketing, and now has thousands of affiliate relationships.
Others skip over this step because they're fearful the vendor will be upset and say "no".
A neater way to position your offensive suggestion is something more along the general lines of : "That's a superb product and a fairly dynamic sales page, but my list has a tendency to be a conservative bunch who believe beige is too much colour on a wall. Would you be OK with me writing an advertising letter that they're going to be so ok with, so it brings us both more sales?"
This is merely a matter of common courtesy - but it is amazing how many marketing pros decide to avoid this step. Some do this because their theory is, if they're going to promote this pup, it had better bark or they're not squandering time, and the seller can just deal with it.
If you're new to Online marketing and only getting started out as an associate I enthusiastically suggest that you try the Clickbank.com marketplace.