How to Conduct Market Research

Clearly define the market you're targeting. Be specific about the industry, geography, and customer segments you'll focus on.

Estimate your Total Addressable Market (all potential revenue), Serviceable Addressable Market (what you can reach), and Serviceable Obtainable Market (realistic capture).

Research growth rates, emerging technologies, regulatory changes, and consumer behavior shifts. Understand where the market is heading.

Map out all competitors including direct alternatives, indirect substitutes, and potential future entrants. Understand their positioning and weaknesses.

Conduct interviews, surveys, and focus groups with potential customers. Primary research gives insights that secondary research can't provide.