Question

What is the relationship between a basic data document and a market need report? what is contained in each, and which funuctional area of the company generates and recives them?

Answer 1

Basic data documents include datas about many a things , it could be about the product quality, customer satisfaction, employee related issues etc. It can hold datas of anything or everything inside it but when it comes to market need reports it specifically implies reports which contain information or data about the market in specific. It could be of the what the customer needs and wants, how much are the customers are willing to pay for a service or product on average, how satisfied are the customers with a specific product or service, what is the target market and demographics etc.

All market need reports can be a data document but all data documents necessarily cannot be a market report. The market report is generated through doing a research and is basically done to take decisions. The decisions will be related to the products and services and the marketing,advertising and sales departments could extensilvely rely on these datas to take the right business decisions in the limited time.

Mainly in an organisation the marketing department responsible for generating thees reports aftter doing a research on the same and the officials or the seniors in the marketing department receives this reports , because they are responsible for taking the decisions related to the marketing functions. In big organisation , at times the Research & Development team or department also generates certain reports which also contain reports specifying the market related or marketing factors in them.