A company should be able to produce the right data and information regarding their products so they are able to keep track and manage the marketability and its unique features. That being said, a product report is a vital document that allows management to conduct research and is also used to inform customers about the product’s purpose and function. Businesses should create and track product reports to be able to keep a record of their business operations. To know more about this, let us discuss this further below. Also, if you need to start working on this particular business report, we’ve got a list of product report samples that are downloadable for free on this page.
10+ Product Report Samples
1. Product Research Report Template
2. Monthly Product Management Report
3. Product Non-Conformance Report
4. Product Event Report Form
5. Product Reliability Report
6. Report of Product Malfunction
7. Product Quality Deficiency Report
8. Damaged Product Report
9. Weekly Raw Product Report
10. Product Incident Report
11. Product Experience Report
What Is a Product Report?
When you start working for a company, preparing and creating reports may be part of your job. It’s either you are tasked to write one yourself or contribute data to help complete the report. One of which is a so-called product report. If your company is engaged in developing and selling products, a product report is a document that outlines specific and relevant information regarding a certain product(s). Preparing such a report will keep those involved updated with any changes or if there is a need to analyze a specific feature of the product. Reports are important avenues to communicate to other members of the team, who can then use certain data from that report for further analysis.
How To Create a Product Report?
A product report may differ per company, each may have its own ways to outline, and also the information to be supplied in such a report would depend on the manager or whoever is in need of the report. Several issues may be tackled on each report so it’s never all the same. Despite the difference, we’ve got several tips below that will help you prepare a well-crafted product report for your company.
I. Report Objective and Purpose
Before you can start writing your report, you need to first understand the purpose of the report and its objectives. In this case, you need to prepare a product report, but what topic or subject should you tackle? In some cases, an outline is given so you are able to formulate your report into something that is vital for the company.
II. Audience
After you are able to establish your objectives, the next step is to determine to whom you are reporting to. Who will be reading or analyzing your report? The importance of knowing such will help organize how you are to write the product report. For example, the report is needed by not only the marketing team but for the finance department as well. With that, you will be able to gather the right information needed for both departments. There is also the level of confidential information in which you need to specify what type of data are you able to include in the report.
III. Outline or Summary
You will need to provide an executive summary in your report which will outline the main purpose of the report. This will provide readers with what they are expected to read in the next pages of the document.
IV. Product Description
Since this is a product report, then for obvious reasons it is important for you to add a detailed description of the product. This will provide the reader with background details and context most especially if they are not familiar with the product.
V. Competitors
In some product reports, data containing comparisons with other similar products from competitors is included in the document. This will allow the reader to understand what makes the product unique from the others and why it should be sold in the market.
V. Test Run Data
Products are often subjected to test runs to check their quality, resilience, and durability. And the results can be included in your report.
VI. Customer Feedback
If you have started selling the product, then you may opt to include customer feedback in your report. This will give the reader an idea of how well the product is doing in the market. This will help management identify trends and determine if they should make all necessary improvements for the item.
VII. Recommendations and Risks
If there is a need to improve or make changes, then you should include in the report a list of possible recommendations. This will give management time to brainstorm and discuss if this is feasible, and if the budget permits. That being said, you should also identify the risk or obstacles you may encounter while conducting these improvements.
VIII. Conclusion
Prepare a conclusion at the end of the report, as this will summarize the key recommendation and how the company will be able to benefit from it.
FAQs
What Is a Product?
A product is an object, system, or service offered by a particular company to its customers.
What Is a Business Report?
A business report helps a company improve various aspects of its management such as its products, services, processes, or policies. Business reports have important functions in helping managers and executives make decisions.
Is Product Management Important?
This is a strategic function in which a company deals with the overall cycle of a product from conception, business justification, planning, verification, forecasting, pricing, product launch, and marketing of a product.
Creating a well-crafted product report will help companies understand their products and their overall performance. To make it easier for you to prepare don’t forget to download our free templates above!
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