2. A test market involves setting up a booth at a trade show and attempting to sell some products at specific price points. Based on your results you can decide if the market would accept the products at those price points.
3. Interviews are a simple and low-cost approach to market research. You develop a series of simple questions and then approach various individuals to answer the questions.
Once you get results, you have to analyze them. Survey a large-enough sample of your target customer base that you can be confident is representative of your audience. If your business is selling its products to a very small number of customers, you may be able to speak with all the customers.
Remember that all surveys have an inherent bias in their design and delivery and so are subject to flawed interpretation and outcomes. Where possible, the best method of assessing market potential is examining actual market behaviour, either by testing your product in a real-world situation or by observing customers of a close competitor. All results provide valuable feedback that should be tabulated and considered.