The essential features of a market reportHello dear friends here you will get what factors should be considered in drafting a market report?Or, the essential features of a market report.
To be effective, a market report should considerer the following factors:
2. Selection of market: On which market research will be conducted that also should be fixed in advance.
3. Avoid personal biases: In preparing the market report the reporter must be aware of personal biases. Personal likings or disliking should not affect the findings of the report.
4. Specific format: As market report is very important for the preparation of marketing strategy, it must be prepare like a formal report.
5. Appropriate method of data collection: Depending on the nature of the market and location of the consumer’s appropriate method of data collection should be selected.
6. Sensitiveness of the market: While preparing the market report, the reporter needs to consider the degree of sensitiveness of the market.
7. Selection of time: The trend of market may fluctuate over time. Thus the selection of time of research may influence the findings of the report.
8. Recommendations: Recommendations is an essential part of any report, therefore like other formal reports a market report must include specific recommendations for the betterment of the marketing strategy.