Researching markets requires you to find or create base numbers for your market. To research a market, you need to estimate how big the market is currently, what market need would your product satisfy, what competitors are already in the market with a rough estimate of their market share, and an understanding of the potential for growth within the industry.
Sometimes the above facts can be difficult to come by, this is especially the case when the industry is new or just starting to emerge from a larger industry. For example, eSports are just beginning to emerge from the gaming industry and the definition for the market is still not set. In this case you will need to consult a wide variety of resources including the Internet, trade associations, newspaper interviews with experts, industry association events, trade magazines and journals, and subject-matter experts.
The minimum you need to start your market research is:
Every market research project is unique and driven by the mix of consumer/business customers, demographics/psychographics needed, and level of the research (local, regional, national or international.)
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