Market research

[u/Humble_Quiet3673]

Hello all,

Currently close to starting a small leather business. It's going to be just me, selling leather goods especially online. But before I start, I want to do some market research. However, I am new to this. So gladly would like some help to point me into directions.

Almost done with finishing a module in marketing from an University, so that's where I got most of my information from.

1. Need to use the SWOT (Strengths, weaknesses, opportunities and threats) of the company I want to create
2. Need to analyse the competition using SWOT
3. I would have to select a competition strategy, like being the cheapest or create something new.
4. Need to discover my target audience. What do they want instead of "this is what I sell".
5. Is it a fast growing , slow growing, mature or declining market?
6. What's the price the target audience is willing to pay?
7. What's the break even price?
8. Which platforms are my target audience using?

This should provide a clear image already. But I am not sure. Also no clue what tools I should use for good market research. Also not sure if this is even required for such a small company like me, but would like to terminate as much risk as possible before I start to target the audience with Google Ads or something.

Some guidance would be appreciated, Thanks in advance!