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Here are some market-research basics that can help get you started and some mistakes to avoid.
Types of Market Research: -

Primary Research: The goal of primary research is to gather data from analyzing current sales and the effectiveness of current practices. Primary research also takes competitors' plans into account, giving you information about your competition.

Secondary Research: The goal of secondary research is to analyze data that has already been published. With secondary data, you can identify competitors, establish benchmarks and identify target segments. Your segments are the people who fall into your targeted demographic--people who live a certain lifestyle, exhibit particular behavioural patterns or fall into a predetermined age group.

Collecting Data: No small business can succeed without understanding its customers, its products and services, and the market in general. Competition is often fierce, and operating without conducting research may give your competitors an advantage over you.

There are two categories of data collection: quantitative and qualitative. Quantitative methods employ mathematical analysis and require a large sample size. The results of this data shed light on statistically significant differences. One place to find quantitative results if you have a website is in your web analytics (available in Google’s suite of tools). This information can help you determine many things, such as where your leads

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