The final result of research should be a detailed report that will answer all of the questions. It's essential to make it thorough. It should serve not only now, at the point of deciding whether to create a product, but it will be helpful when looking for an investor.
The starting point of each project is to know whether there is a market for such a product. Market research is not a holy grail, and once you make it, it does not mean that you are going to succeed no matter what. But it increases your chances significantly.
Currently, the market is stuffed with products and services, and customers are spending more time filtering offers. This situation makes us, founders, approach the market another way. We work on an idea that we think the market needs and then, we try to justify it is true, that this is something that would sell.