Elements of a Market Report A market report contains the information on demand, supply, price, quantity, quality of a product or service in a particular area or place during a particular time period. It is a statement about any market item which reveals its overall market situation. It contains some unique elements that give it special feature and differentiate it from other reports. The characteristics or elements of a market report are discussed below- Business Communication
Elements of a Market Report
- Name of the product: The name of the product or group of products on which the report is prepared should be mentioned in the market report.
- Place of Market: The place of the market where the study is conducted must be mentioned in the report. It helps the reader of the report to compare the market situation of a product with other market place.
- Date and Time of Preparing the Report: The date and time of preparing the report should be specifically mentioned in the report. Because the price of commodities may vary from hour to hour.
- Date of Publication of the Report: Date on which the report is published should be also mentioned in the market report along its date of preparing.
- Volume of Transaction: The transaction volume of the commodity should be mentioned in the report so that the readers can understand the demand of the product compared to previous record.
- Nature of Transactions: Market report not only contains the volume of transaction but also explain the nature of transaction. It clearly states the amount of transactions done in cash and on credit during the time of the study.
- Price Level: A market report always contains the price level of the product. The purchasing price, selling price, changes in price, reasons for price variations etc. should be stated in the report.
- Reasons of Variations in Price: A market report not only contains the price level of the commodity but also explains the reasons for variations in price.
- Nature of Demand and Supply: Market report contains the nature of demand and supply of the commodity on which the report is prepared. The demand supply situation of the product is also analyzed in the report.
- Terms of Delivery: A good market report also contains the terms and conditions of delivery of goods during the time of the study. It helps the people to take decisions on buying the products at their convenience.
- Mode of Payment: Mentioning the mode of payment of sales during the period of study is another important matter of market report. It helps people to determine their payment system at the time of purchasing.
- Business or Market Trend: Market report analyzed the business or market trend of a commodity. All the factors determining market or business trend should be clearly examined in such report.
- Comment of the Reporter: The market report must contain the comment or opinion of the researcher about the overall market situation of the product.
- Date and Signature of the reporter: At the end of the report, the reporter should put his signature with date in order to validate it.
From the above discussion it is clear that a market report must contain a lot of things so that it can be helpful to the readers. In fact, a good market report should include everything relevant and at the same time exclude everything irrelevant. There are more information about Functions of Non Verbal Communication in Business.
- 31What is Business Report or, Definition of Business Report, Meaning of Business Report-When a report is written for business purpose, it is called business report. It is a little bit different from other reports. It deals with business related information. A business report is prepared containing business related information that…