What is Market Report? Market is regarded as the heart of economy. When reports are prepared on the basis of ever-changing behavior of market, it is known as market report. Thus, market report is a written document containing information related to the transactions of a particular product in a particular market.
Generally, market report is a report related to market operations. In the broader sense, when a report is prepared on the basis of buying and selling, demand, supply, price fluctuations, market tendency, price index, method of price determination, transfer of title etc. of a particular product in a particular market place at a specified time, it is called market report. That means, market report is a written document prepared on the transactions of a particular product in a particular market place at a particular time.
According to Dr. A. M. Lorenzo, “A market report is an index to business condition prevailing in a particular market at a specified period or on a fixed day.”
At last, we can conclude that a report is said to be a market report when it is prepared by incorporating information related to buying, selling, demand, supply, price fluctuations, market tendency, price index, methods of price determination, transfer of title etc. of a particular product in a particular market at a specified time.
Characteristics of Market Report or, Features of Market Report
A market report is prepared on the basis of transactions and other dealings taken place in a particular market. It is generally written on the transactions of a particular type of product. Therefore, it is regarded as an important weapon to the buyers, sellers, suppliers, consumers, government and to other concerned parties. Such an important report must contain some special features. Its main features are discussed below:
- Written statement: In market report information related to buying, selling and other dealings of a particular product in a particular market at a particular period are presented in the written form.
- Particular market place: Market report is generally prepared for presenting transactions of a product in a particular market place. It does not contain any information on other market transactions. Report on Dhaka Stock Exchange, report on Narayangonj Jute Market etc. is the examples of market report.
- Particular Time: Market report is generally prepared for a particular time period. For example, market reports are prepared for daily, weekly, fortnightly, monthly, half yearly and annually.
- Specific product: In a market, many products are transacted but a market report contains only the transactions of a particular or specific product. For example, Rangpur Tobacco Market, Narayangong Jute Market etc.
- Impersonality: Impersonality is another important feature of market report. Impersonality implies presenting information not by addressing someone directly in the report.
- Definite structure: Market report is prepared by following a definite structure. This enhances the utility and acceptance of the report.
- Neutrality: Information presented in the market report contains only business information like demand, supply, price level, price index, market trend etc. it does not contain any personal information.
- Business information: Market report contains only business information like demand, supply, price level, price index, market trend etc. it does not contain any personal information.
- Business forecast: Generally, an ideal market report indicates neutral and unbiased future market trends based on present market condition.
- Other Features: Being a member of report family, a market report also contains the general features of report.
Assignment No 2
What is Market Report? Write essential parts and characteristics of Market Report