A marketing report is a report which is generated either on a weekly or monthly basis and sometimes yearly basis depending upon the product nature or top management’s requirement regarding that particular product. Marketing report could be of various types which are as follows;
Occurs every week within teams who are allocated for this task to perform with categorization. Usually, weekly reports are conducted for the type of product when it is just launched in the market or about to be launched, or it has been a month for the project that has been launched.
A monthly report is formed for the various teams on a specific on-going successful product, this report is asked to present if there is any competition which occurs in the market of any rival brand then monthly report gets mandatory to be collected by keeping an eye on the market response.
Annual report contains detailed overview on the market pertaining to all the products launched of a certain brand, complete statistical data has to be prepared and presented on the market trends, responses, do’s and don’ts of the product advertisement and other external factors which are affecting marketing strategies are discussed and explained by the experts.
This report is generated in the organizations to do critical analyses of the product and to know the market situation of that product in terms of market acceptability, response, and acceptance for that product. This analysis is very important for the formulation of new strategies or to bring change in the existing strategies accordingly.
A marketing report is a consolidated data of all the information which has been gathered from the market on that product and other features. To generate this report we must follow the following steps;
First of all, do analysis on the marketing behavior and nature of the product that where is it live or ongoing on social media. Because you need to recognize yourself first. Once they figure out the marketing nature of that product then further working starts.
In the business strategy, there is detailed working on the past performance as compared to the current performance of the organization and crux of all the succeeding and potential candidates are driven.
There would be a numerical and graphical representation of all the market behaviors and then it is presented in front if top-notch. More accurate or near to accurate data would be shared with the heads to take further action upon it.
In this marketing report complete analysis of the current marketing strategies are discussed along with the target market, where to market, market size, market location, areas of interest, in short, every single aspect is discussed and pursued to drive accurate data on it and further marketing strategies are proposed accordingly keeping in mind existing shortfalls and outcomes of current strategies. It totally helps to maintain equilibrium in the market with new strategies and new upcoming ideas bringing in the flavors in the marketing trends.