Research markets requires you to find or create a couple of base numbers for your market. To enter a market you need to find out how big the market is currently saturated with competitors, what market need would your product satisfy, what competitors are already in the market and a rough estimate of their market share and an understanding of how industry looks currently and it potential for growth.
Sometimes the above facts can be difficult to come by, this is especially the se 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 are still not set. In these cases 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.)