Types of market research reports businesses can choose from

Market research reports offer detailed analyses about a specific market scenario within a geographic area, and contain information on market disruptions from social, technological and economic changes. An effective market research report typically demonstrates a clear understanding of research goals by implementing proper research techniques to derive meaningful insights. Market research helps businesses identify obstacles and capitalize on emerging opportunities. In today’s competitive marketplace, where consumer needs and business resources are ever changing, a quality market intelligence report can considerably direct success and mitigate failure.

Though there are countless types of market research and reports doing rounds in the market, but for distinct understanding, they are primarily categorized into – 

Topline Report

Topline reports are the least expensive type of market research report, and provide an overview of the market requested for, as well as a quick evaluation of the growth drivers for that market. Key findings as well as recommended actions are highlighted without unnecessary technical jargon to point critical issues to businesses that need to be quickly addressed.

Full Market Report

Unlike topline reports, full market research reports delve deep into the specifics of why, how and when a market can change. These reports forecast developments by identifying market trends and important market drivers. Full reports typically include comprehensive findings, including verbatim qualitative responses to research questions, as well as a thorough revelation of all metrics, methodologies and models used during the research process.

Product Detail Report

The product detail report is an expansion of the full market report and primarily focuses on one or more specific offerings within the market. Overall market strengths and weaknesses are described, but focus is pointed to the performance of individual products in certain regions or locations. The product detail report is the most expensive and focused type of market research report available.

The importance of market research reports is manifold as they add credibility to the business decisions, and even for refining business plan, preparing a presentation for an important client, or making recommendations to an executive.