Here is the simplest way to conduct market research.
There are two approaches in market research and no matter what type of market research your organization is conducting, you will need to determine what approach you are going to use.
Quantitative or qualitative?
Market research is the normal strategy when a company launches a new product or service. They have to make sure that it will be profitable and not a waste of money and effort. The market research for a small non-profit is mainly a way to reduce the risks. Similar to buying an insurance which also takes a lot of money.
Market research lowers the chance of investing too much on a project knowing that the expected result will be a failure. The market research also tailors the product to a target market.