Real-life Example of Keyword Research

For your understanding, here is a practical example of above-mentioned steps: (you may adjust it as per your business model and your targeted keywords)
1. We manage a web site offering Furnished Apartments and villas for short-term rental in Dubai near Jumeirah Beach.
2. In this example, we offer 2 services: apartment rental (studio, 1 – 5 bedrooms) and villa rental (2 – 6 bedrooms)
3. Benefits our customers get: luxurious furnished apartments, luxurious villas, beach-front, spa, Jacuzzi, gymnasium, swimming pools, near nightlife, safe and secure, near shopping, near business hub, car rental, boat rental, desert safari etc.
4. Potential targeted keywords: Furnished Apartments, Furnished Villas, Short-term rentals, accommodation, beach-front apartments, beach-front villas, studio, 1 bedroom, 2 bedroom, 3 bedroom, 4 bedroom, 5 bedroom, 6 bedroom, and many more…
5. Now add your target region with your potential targeted keywords: Dubai Furnished Apartments, Dubai Furnished Villas, Dubai Short-term rentals, accommodation in Dubai, Dubai beach-front apartments, Dubai beach-front villas, and so on.
6. Check your competition – what keywords you competitors are using. Search on Google.com, Yahoo.com and Live.com for the above-mentioned keywords and notice your competitor’s sites’ titles, meta description & keyword tags, first paragraphs of your competitors’ pages that are getting higher rankings. This will give you a clearer picture about your targeted phrases.
7. Add action words with your targeted keywords, like Book today, Reserve now, Contact us, Call now, Visit our web site, Luxurious, Exclusive, Beach-front etc.
8. Avoid common words like the, of, or, for, this, that, and, www etc.
9. Targeted keywords should be 2 – 5 words long.
10. Avoid general terms (or single words) like apartments, villas, accommodation, rental etc. – make them targeted like luxury Dubai apartments, beach-front villas in Dubai, accommodation in Dubai near beach, short-term apartment rental Dubai etc.
Now, gather these words you already have collected and optimize this keyword list through Keyword Research Tools.