Step2

To determine the demographics of your market use trade journals, marketing magazines, government reports and chamber of commerce market profiles.

These publications are helpful in providing data on purchasing trends that serve you a clue on the buying habits of your target market.

Step3
Be able to conduct mail and telephone surveys using randomly selected addresses and telephone numbers in your local area.

Step4
You should collect information from your existing customers. Using questionnaires, personal interviews and focus groups to get feedback on your products and services are of great help. If you do have a Web site for your business, start a chat room or message board and encourage customers to participate.

Step5
Try to observe customers at various points of contact in your business, including reception, sales, and customer service. Be watchful for glitches in your business operation and at the same time how your employees interact with the customers.

Step6

You should take time to analyze your sales records. If you know your best customers and most profitable products this can help you to better focus your marketing efforts.

Step7
Organizing the research data you have collected and be able to determine - or reevaluate - your marketing strategy based on the results of your research.
References :
http://www.sitesource101.com

a; write your biz plan,
b; take each assumption [statement] and see how true it/they are
by asking applicable "stakeholders."
1. vendors
2. possible clients
3. possible competitors
4. possible employees
—
analyze probably amount of sales and what you plan on doing
to achieve same
–
determine start-up capital needs and defend same

you need to do both PRIMARY AND SECONDARY
research;
primary is asking people
secondary is reading data from any source.

Hope this is a good start. Get hold of me for more
help
References :
biz teacher