Produce a questionnaire using www.surveymonkey.com which you then publish to this post or by writing up a few questions to be used with a focus group.
You will want demographic details about them (age, gender, race, class) as well as psychographic details. For example, are they mainstreamers, aspirers, reformers or individuals? Do they belong to a subcultural group?
You will also want to know who your target audience would like to read about, whether they want lots of text or more images, whether they want a glossy collectible or a 'worthy' publication. Also, try to discover what would make them buy your magazine rather than just get information online.
Find out what other magazines and media forms they use, how often they see live music, what types of music they listen to.
Represent the results using graphs and publish these to this post.
Finally, write a brief summary of your findings and explain how they will be useful in your planning.
EXTRA: You could create a PowerPoint slideshow and convert it to a Windows Media Maker and then uploaded to this post, to show other magazines and demonstrate how there is a gap in the market for your particular concept.
Here is an example: http://enorfasmarsdenhille.blogspot.co.uk/2013/01/target-audience-research.html
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