What is competitor / rival monitoring?
12/06/2022 | By: FDS
Weather competitor (also called competitor monitoring) is a concept in which companies monitor and compare the activities of their competitors and other affiliated industries to understand how they can improve their own location in the market. This strategy is often used to gain a better understanding of the current market situation and to evaluate a company's competitiveness relative to that of its competitors. Competitor monitoring can include tracking market trends, analyzing pricing strategies, identifying product developments, and more.