What is Competitive Monitoring?
The ongoing process of tracking and observing competitor activities and market changes.
Detailed Explanation
Competitive monitoring is the systematic, ongoing observation of competitors and the competitive environment. Unlike one-time competitor analysis, monitoring is continuous and aims to detect changes as they happen. Effective monitoring covers competitor websites, news, social media, product releases, pricing, personnel changes, and market dynamics.
Real-World Examples
Daily monitoring of competitor news
Real-time competitor website tracking
Continuous social media monitoring
How It's Used
Early warning system for competitive moves
Continuous market awareness
Rapid response to competitor changes
Proactive competitive strategy
Related Terms
Competitive Intelligence (CI)
The systematic process of gathering, analyzing, and using information about competitors to make better business decisions.
Market Intelligence
Information about a company's external market, including customers, competitors, and industry trends.
Website Monitoring
Automated tracking of competitor website changes including pricing, features, and messaging.
Put Competitive Monitoring Into Practice
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