Knowing the principles of a market report helps you to prepare a effective market report and that market report is the best for market research.
The following principles are required to be followed at the time of drafting a report:
Principles of a Market Report
- Simplicity: The language of a market report should be always simple. Better presentation with simple approach makes the report communicative simplicity provides means for better understanding.
- Conciseness: Market report should be brief. Elaborate report may become ineffective and involve more time. Emphasis should be made on the right point.
- Completeness: There should be complete presentation of information in a market report. The report should be brief but complete.
- Accuracy: Information contained in the market report should be accurate otherwise wrong information will cause wrong decision. So, information must reflect the true picture.
- Consistency: Information Contained in the market report should be consistent with actual scenario i.e. existing value, demand, supply and reason behind market trend should be provided in the report.
- Relevance: Relevant facts should be laid down in the report. Irrelevant matters make a report healthy, but ineffective. Each fact must have reason to be included in the report.
- Objectivity: Market report should be objective rather than subjective. Writer should be neutral and should provide emphasis on the investigation of real matter.
- Timeliness: Market report should be presented in time otherwise it will be fruitless and ineffective, e.g. daily market report should be published on the following day. If it is published after a week, then there is no significance of such report.
- To follow specific structure: Market report must be prepared by following specific structures. Proper structure makes the report catchy and understandable.
- Neat and cleanliness: A thing of beauty is joy forever, such statement is applicable for a market report. Proper space, paragraph, alignment; print should be there in a market report to make the report attractive.
- Use of marketing language: A market reports should contain marketing language to make the report communicative to the reader, e.g. Bull Market, Bear Market or Dumping are the various words that reflect the market scenario at a glance.
- Conclusion: At the end of a market report writer should provide his own view in a nutshell. He should provide neutral and objective recommendation.
A market reports must highlight the above matters otherwise it will not be acceptable to the readers.
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