How to conduct market research in Quebec

Define a decision rather than starting with a general report on an industry. Are you considering a new location, a service expansion, a different customer segment or a funding application? The decision determines which data matters.

State the offering, geographic reach, timeframe and target customers. A Quebec-wide average cannot establish demand in one neighbourhood. Write down the information you already have, the assumptions you need to test and the findings that would change your decision.

Group potential customers by need, location, purchasing capacity, buying frequency and preferred channel. For business-to-business services, the organization’s industry, size and purchasing process may be more relevant than population statistics.

Do not equate every person in an area with an available customer. Distinguish the total market, people reachable through your channels and the customers you might reasonably win during the first stage of the project.

Statistics Canada's Census Profile provides demographic, household and income information for different geographic areas. The Institut de la statistique du Québec publishes regional profiles and economic indicators. Always note the reference year and geographic definition before using a figure.

Quebec's business registry can help identify registered businesses and establishments. It does not, by itself, provide a complete list of active competitors or evidence of their sales.

BDC guidance and Government of Canada resources can help organize sector research. Keep the source name, URL, year, geography, date accessed and limitations for each figure used.

Public data provides context, but it rarely explains the full purchasing decision. Interview potential customers, observe current alternatives, review genuine enquiries and, where practical, test a limited version of your service.

Ask neutral questions about what people already do, what they pay and what remains difficult. A question such as 'Would you use my great new service?' is likely to produce less useful evidence than asking about recent purchases. Keep privacy and sample limitations in mind.

A competitor may sell a similar product, but alternatives also matter: doing the work internally, buying online, choosing a substitute or not buying. Few visible competitors may indicate an opportunity, but also potentially weak demand.

Compare observable features that matter to customers: pricing, geography, delivery times, capacity, service and purchasing channels. Mark facts separately from estimates about sales volumes or customer satisfaction.

Build a traceable chain rather than starting with an arbitrary market share. Estimate accessible potential customers, the share your marketing can reach, the proportion who might convert and the expected purchase frequency. Check whether your operational capacity can serve the resulting volume.

Fictional example: a business identifies 2,000 potentially reachable customers, assumes it can contact 20%, convert 15% of those contacted and obtain two annual purchases at $120 each. That produces 60 customers and $14,400 in annual revenue. Every assumption requires testing; none is an observed market fact.

Prepare a conservative scenario with a lower conversion rate or purchasing frequency. A projection supports a decision but does not independently prove demand.

Compare the proposed price against observable competitor prices, customer interviews and your costs. A lower price is not necessarily an advantage if the contribution margin is insufficient. Specialized value may support a higher price if the benefits can be shown.

Connect each channel to realistic enquiries, conversions, acquisition costs and delivery capacity. A large theoretical market will not create sales without an achievable route to the customer.

Compare published statistics, interviews, competitor evidence and your assumptions. Differences may result from the period, geography, customer definition or sampling method. Do not silently choose the most favourable number.

List the uncertainties most likely to alter the decision: weak willingness-to-pay evidence, reliance on one customer, untested acquisition costs or outdated market data. Assign a practical verification step to each.

Make revenue assumptions traceable to customer counts, conversion rates, unit volumes, pricing and seasonality. Translate those drivers into monthly forecasts and test how changes in demand affect the operating results.

Check the links between sales, expenses, cash flow, working capital and debt repayment. If a 20% reduction in volume would undermine the project, explain that sensitivity. It is a scenario test, not a predicted market outcome.

Your report can be concise if it answers the essential questions: who is the customer, what need has been validated, what level of demand is plausible, what alternatives exist and which prices are supported by evidence? Include calculations, references and limitations.

Record the reference dates and update the study when customer behaviour, prices, competitors or project assumptions change. For funding decisions, clearly distinguish source-backed findings from the project proponent's estimates.