{"id":13595,"date":"2014-08-14T12:40:55","date_gmt":"2014-08-14T12:40:55","guid":{"rendered":"https:\/\/www.techopedia.com\/definition\/competitive-monitoring\/"},"modified":"2014-08-14T12:40:55","modified_gmt":"2014-08-14T12:40:55","slug":"competitive-monitoring","status":"publish","type":"definition","link":"https:\/\/www.techopedia.com\/definition\/30314\/competitive-monitoring","title":{"rendered":"Competitive Monitoring"},"content":{"rendered":"<h2><span id=\"what_does_competitive_monitoring_mean\">What Does Competitive Monitoring Mean?<\/span><\/h2>\n<p>Competitive monitoring is a marketing and strategy management process wherein all avenues of the business landscape are monitored and evaluated.<\/p>\n<p> The most prominent of these avenues are the business competitors and their various activities such as events, product developments, product launches, and product prices. Knowing what the competition will do next puts the business in the position of being able to plan how to counter it or how to do better than the competition.<\/p>\n<p>Competitive monitoring is also known as competitive analysis.\n<\/p>\n<h2><span id=\"techopedia_explains_competitive_monitoring\">Techopedia Explains Competitive Monitoring<\/span><\/h2>\n<p>The main goal of competitive monitoring is to place the business above the competition. <\/p>\n<p>Traditional methods of analysis and action such as SWOT are no longer enough. For example, the SWOT analysis principle puts an organization in a defensive position, making it try to cover its weaknesses and threats and maintaining its strengths rather than actively seeking opportunities and improving on strengths. But that method can be modified to suit the organization\u2019s needs.<\/p>\n<p> Competitive monitoring is the process of monitoring all of the competition\u2019s moves, especially market and product prices. With this, a business can change their prices along with the market and the competition in order to retain or gain new customers. Holding on to prices for a long time means that competitors could already have lowered theirs, attracting some of the business\u2019 customers.<\/p>\n<p> Competitive monitoring provides:<\/p>\n<ul>\n<li> Relevant and timely information about competitors in a relatively short time<\/li>\n<li> Improve business responsiveness<\/li>\n<li>Better knowledge of potential threats<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>What Does Competitive Monitoring Mean? Competitive monitoring is a marketing and strategy management process wherein all avenues of the business landscape are monitored and evaluated. The most prominent of these avenues are the business competitors and their various activities such as events, product developments, product launches, and product prices. Knowing what the competition will do [&hellip;]<\/p>\n","protected":false},"author":7813,"featured_media":0,"comment_status":"open","ping_status":"closed","template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","om_disable_all_campaigns":false,"footnotes":""},"definitioncat":[251,260,231],"class_list":["post-13595","definition","type-definition","status-publish","format-standard","hentry","definitioncat-analytics","definitioncat-business-intelligence-bi","definitioncat-it-business-alignment"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.2 (Yoast SEO v24.5) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What is Competitive Monitoring? - Definition from Techopedia<\/title>\n<meta name=\"description\" content=\"This definition explains the meaning of Competitive Monitoring and why it matters.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Competitive Monitoring\" \/>\n<meta property=\"og:description\" content=\"This definition explains the meaning of Competitive Monitoring and why it matters.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.techopedia.com\/definition\/30314\/competitive-monitoring\" \/>\n<meta property=\"og:site_name\" content=\"Techopedia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/techopedia\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@techopedia\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.techopedia.com\/definition\/30314\/competitive-monitoring#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.techopedia.com\/definition\/30314\/competitive-monitoring\"},\"author\":{\"name\":\"Margaret Rouse\",\"@id\":\"https:\/\/www.techopedia.com\/#\/schema\/person\/f5dd538e31ee352d105b8af36c4268a5\"},\"headline\":\"Competitive Monitoring\",\"datePublished\":\"2014-08-14T12:40:55+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.techopedia.com\/definition\/30314\/competitive-monitoring\"},\"wordCount\":251,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.techopedia.com\/#organization\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.techopedia.com\/definition\/30314\/competitive-monitoring#respond\"]}],\"articleSection\":\"\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.techopedia.com\/definition\/30314\/competitive-monitoring\",\"url\":\"https:\/\/www.techopedia.com\/definition\/30314\/competitive-monitoring\",\"name\":\"What is Competitive Monitoring? 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