Methodological basis of competitor monitoring

Abstract

The article is devoted to the monitoring competitors in marketing It is a topical issue of modern Belarusian companies. Monitoring competitors results are used for development of marketing plan, formulation of marketing strategy, management decisions in the company marketing. The author notes the necessity of monitoring competitors and gives the analysis of literature devoted to this subject. The article represents the approaches to the definition of the competitive analysis and the essence of the concept of monitoring the competition. In this research the algorithm for the monitoring and evaluation of competitors are proposed, the types of competitors according to the elements of the marketing competition are defined. Marketing scenarios of counter rivals according to the type of competitor are also proposed.