Market Report - merits, qualities, types, essentials, characteristics

 What is a Market Report? Describe the characteristics of a good  opMarket Report. Ans.

MARKET:

Market is a place where goods are offered for sale. It may be an open place, a shop or a building.

Functions of a Market:

1. Among many of its functions the foremost important function of a market is the price determination.
2. The marketing operations extend also to the process of transferring goods and services from the producers to the retailers.
   Market Report:
   "A market report describes the condition of a commodity in the market during specific period of time".
   Merits of a Market Report:
   A market report measures the progress of a market.

• It provides the detail of prices of different commodities in the market.'
• It provides valuable information to investors regarding the investment opportunity
  in different fields of business.
• It provides valuable commercial literature (knowledge about buying and selling)
  to commerce students and traders.
• It forecasts the future trend of Market.

Qualities of Market Reports:

A person writing a market report should keep in mind the following points:

• A market report is written in third person and past tense.
• It should be very easy to understand.
• Words should be used economically.
• It should present a good analysis facts.

Type of Market Reports:

Market reports may be drawn up daily, weekly, monthly, half yearly, annually.

Essentials of a market report:

Following are the essentials of a market report.

1. Date of business transaction.
2. Place of business transaction.
3. Period for which a report is made.
4. Types, qualities and quantities of commodities dealt in.
5. Position of demand and supply of commodities at the time of writing a report.
6. Total volume of business transacted (goods available and quantities sold)
7. Different prices for different qualities of commodities ruling in the market.
8. Opening and closing prices of the stocks transacted.  -
9. Factors influencing a market.
10. Mode of payment.
11. Terms and conditions of delivery.
12. The commercial atmosphere governing a market.
13. m. Any relevant diagram or graph.
14. Remarks or comments as regards the prospects of business

Characteristics of a good market report:

1.     Impersonal: A market report must be impersonal. It must not be coloured with the writer's personal views and ideas. It must not have his liking and disliking. It should be written in third person (he) and past tense.

2.    Clarity: A market report must be clear in each respect. The writer should not confuse different issues. We must have clear ideas. In order to express himself clearly, he must use simple and clear words. He must be simple in his approach. He should avoid the use of ambiguous words.

3.    Uses of technical terms:   A market report must have some (^/ ) use of technical terms and phrases. The specialized commercial vocabulary must be produced.

4.    Conciseness :A report should be concise and brief but should not miss anything important. .

5. Completeness: A market report must be complete in each respect. It must contain all facts and figures. It should provide all necessary information.

.

6. Logical consistency: The writer of a report must be consistent in his ideas. He must trace the causal connection between demand and supply. The changes in the prices of goods must be logically written.

7. Analytical: A report must be analytical (jt/) in its nature.

            8. Conclusion: A writer of the report must draw right and correct decisions on the basis of the matter given in a report. He should know that the businessmen generally make decisions about their business on the basis of the conclusions they write in their reports.