Thursday, June 7, 2012

The essential features of a market report

Hello 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:

1. Determination of objective: Like any other report market report also should be prepared by fixing predetermined objectives. Specific objectives or purposes infect act as a guideline for the preparation of the report.

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.