What is competition monitoring?

Competition monitoring (also competitor observation or competitive intelligence) refers to continuous reconnaissance of the market and the business environment in order to define your own market position. It involves the systematic collection and analysis of information on the competition, competitive products and services, and trends. You can use this as a basic for taking strategic and tactical decisions and thus always be one step ahead of the competition

Regular market monitoring is followed if necessary by a market analysis or competitive analysis during which the collected data is interpreted and linked.

Competitive intelligence as a pillar of corporate strategy

How do you tackle your strategic planning? You probably monitor trends and ongoing developments. It’s good if you also listen to feedback from your customers. But where do your competitors feature in this? Do you know how your competitors are moving in the market? Competition monitoring enables you to avoid unpleasant surprises, to respond quickly and to modify your company’s strategy promptly.

Is competitive intelligence (CI) or competition monitoring part of your strategy?

Brand Monitoring and Brand Perception

BinocularsThe big well-known brands in particular are constantly fighting for the favor of (potential) customers. Continuous monitoring of the target group’s brand perception delivers important insights for strategic business orientation or concrete marketing campaigns.

In the course of brand monitoring, the researched data must be examined thoroughly. A purely quantitative comparison of media reports may suggest that the competition is in the lead. However, the tonality analysis may come out in your favor if reports on the competition are couched in more negative terms.

In connection with online reputation management you should not ignore social media monitoring. You should therefore combine various metrics from different sources in order to obtain robust results. Graphics make the analysis easier.

Frequently Asked Questions

Answers to some popular questions

What is competition monitoring?

A continuous reconnaissance of the market and the business environment to monitor & evaluate the competitors and their activities. Read More

What is Brand monitoring?

Competition monitoring (also competitor observation or competitive intelligence) refers to continuous reconnaissance of the market and the business environment in order to define your own market position. Read More

What is Brand monitoring?

Brand Monitoring is the continuous monitoring of the target group’s brand perception by analyzing the brand's reputation on different channels and media delivers important insights for strategic business orientation or concrete marketing campaigns. Read More

Why is it important to monitor competitors?

It enables a company to uncover important information about the competitors, respond quickly and modify the company’s strategy promptly. Monitoring competitors also allows the company to improve business responsiveness and gain better knowledge of potential threats and come up with contingency plans to counter it. Read More

What are the advantages of strategic competition monitoring?

In the course of your media monitoring or market intelligence, you should not ignore the competition in any of your areas of business. Successful competitive intelligence enables you to uncover important information and thus gain valuable information advantages for your corporate strategy.

  • Understanding the Market
  • Focused targeting of customers
  • Market forecasting
  • Tracking Economic development
  • Tracking competition's products
  • Tracking competition's pricing/ analyzing its strategy
  • Tracking competition's customer behaviour

  • By keeping an eye on your competitors, you can leverage key competitive advantages. Especially in times of digitization, when the market is fast-paced, and can change every quickly. Read More
How do I monitor my competitors?

You can monitor your competitors from a number valid sources:

  1. Subsidiaries
  2. Press information
  3. The competition's marketing activities
  4. Information from companies database
  5. Information

Learn more here

Which marketing and advertising activities are being rolled out by my competitors?

Here is how to study marketing and advertising activities:

  1. Study competitor's marketing pages and activities on all platforms
  2. Track competition's Marketing strategy
  3. Tracking competition's products
  4. Tracking competition's pricing/ analysing their strategy
  5. Tracking competition's customer behaviour
  6. Tracking competition's Brand Reputation

You can do it here.

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