Here are a few tips ou can use to do your market research. Also do not forget to use our FREE Niche Market Finder. You will be able to download a PDF document with all your data. No email address required 
Let’s go:
- Use Google keywords research too to find keywords you may be using in your website/blog posts and also in your tweets.
- Focus on keywords with little competition and where there is an intention to purchase. For example “buy red shirt” is an excellent example.
- Make sure you pick keywords that will allow you to monetize the niche. i.e.: you want to be able to sell something to that audience; if there are no affiliate programs or it is difficult to get the products then you may want to go find another area.
- Are there Google Adwords ADS for those keywords? If not then think again; it may be difficult to make any money in that niche.
- Use Google Trends and Google Insight for search to identify patterns and trends within your niche. Is there a seasonality? Can you make money year-round?
- Are people talking abut your products/services in the social media websites? If so then you may have good chances to grab that audience.
- Use http://www.whostalkin.com/ and http://socialmention.com/ to find out more about the social media buzz for your products and services.
- Try to uncover additional markets by using the following websites: http://spyfu.com/ and http://www.keywordspy.com/. Good luck !
If you have any questions, do not hesitate to post a comment.
Visit my FREE NICHE MARKET FINDER