Market Research: What is Market Research?

Use Google Trends and check what has been researched or how popular your idea/topic is.

Introduction

“Market research is an effective way to learn about potential customers, their opinions, habits, trends and future plans. Use it to determine the geographic area of a business and demographic characteristics of customers such as age, gender, income and educational level.

Market research may make the difference between the right and wrong decisions that affect sales. It may reveal unfilled needs, suggest marketing strategies or identify the competition's strengths and weaknesses. Business cannot afford poor decisions.

Market research involves asking questions, recording information and taking time to learn from the information. Market research develops an information base to estimate sales, develop market strategy and decide how to enter the market.”

Bull , Nancy . "Conducting Market Research." Ohio State University Fact Sheet.
30 Oct 2009<http://ohioline.osu.edu/cd-fact/1252.html> .

Approches to Market Research

• Primary Research (based on field work, interviews, observations, focus groups etc..)
• Secondary Research (based on literature research and organizational/ governmental websites)

Elements for your Market Analysis 
     Industry
     Competitors
     Markets
     Population and Customers