How to make a market research and Market study?

me and my classmate have this project which will be passed tomorrow Jan 11,2013 and we cannot understand how to make it. Could anybody help us?

A market study and research can be done by doing the researcah work including the conducting of surveys.It can give a business picture of what kinds of new products and services may bring a profit.Marketing researches are done for helping the companies whether they are meeting their customers needs and expectations.