Advice 1: How to monitor

Because profit is the most important factor of any endeavor in commercial activities, the implementation of monitoring involves the maximization of sales, growth rates and other growth factors. Unfortunately, real life is much more complicated theoretical schemes. An analysis of systematic activities, monitoring, control and prediction are the concept of monitoring.

The purpose of the monitoring and its use in different areas helps to gain a foothold in the market and ensure its stability. Monitoring is used for different purposes, according to a particular area.

How to monitor depends primarily on understanding the desired perspective. The extent of monitoring depends on the scope of activities of your company. Reasons for monitoring can be various. Tasks conduct needs to come from further development plans. Competitive, comparative, topical, baseline monitoring - account for the necessity of introduction for any company in the way of her activities.

To properly monitor will offer a variety of analytical programs and firms who are profiled in this activity. When you work with attract clients, you will help the study of the dynamics of demand, the impact of the image of the company reliability in the eyes of buyers or customers.

Examples of monitoring can serve as phone surveys, questionnaires, polls at exhibitions, or at the exit of a trading hall. Analysis of problems, causes, future strategic directions will help you to define your commercial strategy. Marketers directly develop all the necessary diagrams for business development. Continuous monitoring of the market, for example, offers at prices that really will help you control your situation. For young firms it is these objectives that are very important and the sustainability of future activities directly depends on the correct monitor.

Departments of sociological monitoring will help you in getting certain grades of social aspects, the popularity of political leaders, ratings of the media, surveys, statistics, expert opinion surveys. Any activities related to monitoring involves awareness in all spheres of activities related to the market, consumers and competitors.

An informative source may be the Internet. But just gather all the information and make the correct conclusion can only be a good analyst. And full information can only come from proper monitoring.

Advice 2: How to monitor prices

In the constant dynamics of market monitoring of prices may be one of the most important tasks for a trading company. Price research of a different nature will help to maintain a competitive position, to manage consumer demand and increase profitability of the products.
How to monitor prices
You will need
  • file or the program for analysis;
  • - the Internet.
Create a special file or email the program for local use, which will serve as a template for monitoringand prices. This resource should include a list of the major commodity items and services of your company, list of competitors and their products. Create a handy table for comparative analysis of pricesthat will allow you to track the dynamics of the cost of similar products.
Select the range of the main competitors of your company, activity of which directly influences your pricesovou policy. Divide them into several semantic groups. For example, near competitors, pricess which you need to monitor constantly, and far competitors, which you will monitor less intensively.
Determine methods of tracking prices on major items or companies. You can subscribe for a regular email newsletter price lists, which will allow you to be aware of any changes. Unfortunately, this method is appropriate not for all companies. In most cases you will have to track prices on an individual basis, for example, visiting a corporate website or sales.
When monitoringe prices do not forget about additional conditions that may affect the final cost of the product. So, the official price list of the company can mean significant discounts. Be sure to consider these conditions, because in the end pricesthe new level to certain products of other companies may be considerably lower.
Make graphs of prices at nearby competitors. Analyze the dynamics and the consideration of the main factors influencing the growth or decline in value. During the analysis of prices try also to allocate the estimated trade inpriceof the. For example, the official dealer of a large plant will always be able to offer lower prices, than the wholesaler. Consider such factors.
Be careful with competitive intelligence. Despite the fact that in some cases this is the only way to get information about pricing policy of another company, try to work within the law.
Useful advice
When price monitoring don't forget to analyze the change in the cost of raw materials or source products across the country or the world. For example, if you are a tire track rubber market and rubber. Sharp price fluctuations for raw materials will affect the value of the product.

Advice 3: How to make monitoring

Monitoring refers to continuous monitoring, the removal of indicators, fixing the key parameters of the results of the processes aimed at achieving any goal. It serves to track trends in these parameters and results with the aim of accounting for control or predict. On the basis of the analysis and provides recommendations for improving the effectiveness of management decisions.
How to make monitoring
State the purpose for which you need to do the monitoring. For example, you are interested in the investment attractiveness of the territory. So you must also know the dynamics by volume of attracted investments for a certain period of time. Or do you monitor the implementation of sales plan. In this case, you need to obtain information on the implemented goods with a specific frequency. Evidence of such monitoring allows to timely identify problems and make management decisions if necessary.
Define the list required for monitoring parameters that will allow you to make a comparative analysis for different time periods. Note that the sources of your information must be correct, employees that provide it, must be motivated to receive an objective evaluation. Monitoring should give you food for thought and figures for statistical analysis activities of the enterprise.
The results of the monitoring do the analysis using methods of mathematical statistics and mathematical. The results of the analysis make adjustments to the goals and objectives. It is possible that the result of this analysis, you can get irrefutable evidence of the impossibility of achieving these goals. You will be able quickly to detect new factors that appear in the course of long-term projects and consider the obstacles to achieving these goals.
Use visualization techniques of monitoring results. This will allow to visualize the dynamics of change of parameters in time. To improve the reliability and representativeness of statistical samples use the data for a sufficiently large time intervals to exclude the random factor.
The results of the analysis make clear conclusions and begin the process of preparation of management decisions and proposals on elimination of the reasons hindering the achievement of the goals. Make your plans and projections for the expected performance.
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