What is a market study?

A market study It is an analysis that is made to people or companies, in order to make decisions about the market with that information, either by preventing or anticipating its evolution. This is done for four main business purposes:
First: know if there are enough consumers with the particularities that are needed to consider them as demand, either for the services or the products offered.
Second: that these consumers justify the production that they intend to offer by representing a sufficient demand.
Third: that there are adequate channels for marketing.

Quarter: That the effects of demand with respect to substitute and complementary services or products can be calculated.
This research is done through surveys or interviews with the hired staff or the interested party, these interviews or surveys are done with potential clients. Businesses that are already operating are also done through invoicing. All this with the purpose of noticing some particular characteristic for some special investigation.

Primary method of the market study.
Whatever the method chosen to investigate, it is necessary to have a question guide in order to reach a proper end. For this, the staff or person who asks must first ask:
What do I want to know?
 What questions do I need to ask to get to what I want to know? These are some questions that can be asked to find out what is desired
1 Leading questions: YES or NO
2 Open questions: in which people answer what they want.
3 Questions used to corroborate previously requested information. In closing

As a general rule, it is suggested to consider the following aspects for the elaboration of the script of a survey or questionnaire

1 That the wording of the question is clear.
2 That the answer to the question does not have to be very long.

Secondary method of market study.

It is the information that generally comes from organizations dedicated to collecting documents, data and information on each of the sectors of interest, such as:
Official bodies such as the National Institute of Statistics, the Chambers of Industry or Commerce of each branch of Geography and Information Technology. S.N.C., Nacional Financiera, S.N.C. Development banks such as Banco Nacional de Comercio Exterior, The same commercial bank periodically publishes information statistics and studies on various economic sectors where you can obtain the main characteristics of the branches of interest for the potential investor. From this type of information collection, it can be deduced that there are two types of collection sources:

External sources: Censuses, publications, reports

Internal sources: accounting records, database, etc.