how can we know who their target market is via competitor analysis?

can't we know from their buyers?

that's my point, how to trace their buyers?

And then if they already hv one thing from my competitor, why will they buy from me again?

well depends on the goods and services.
If I drink Pepsi today, I might drink coke tomorrow


But If I buy a Kia seltos today, I might wait two years to buy a Tata Harrier

but those are assumptions.

Not concrete.

We must have a concrete market research data

not assumptions, we call them observations.

yes...Market research data is very important

but these observations doesn't gives us concrete data to scale.

Nd how to get those concrete data is exactly I am looking for...😅

but these observations gives us the trend , which you can follow to build a concrete data

let's take an example of selling a flat/villa.

Once they're purchased, I doubt anyone will purchase again unless he is looking for investment.

Thus we can't rely on trend for every industry

that's what I said earlier..

Everything varies depending on product and service

but there must be something common in order to get market research done and acquire data!

That's exactly what I am looking for

that is great!

But everyone may not afford this.

If it backfires we need a serious backup plan.

Which is why understanding your customer needs and market research is very important. Isn't it?

Haha! Point. If one can’t afford it, it’s a different story. But there is nothing better than getting sign ups before launch .. true validation !

How would you do research ? Survey?

survey is one of the way.

But as mentioned in post, I was also ignorant with market research.

This asking the group if anybody can give some cool/fresh perspective to it!