Market monitoring
Market monitoring is a supervisory activity that takes a broad look at an industry, sector, or market (e.g., the credit market) as opposed to focusing on individual financial services providers (FSPs). However, market monitoring can and often does trigger institution-focused supervisory actions (e.g., inspections). Market monitoring is an integral element of financial consumer protection and market conduct supervision. It typically involves offsite supervisory tools and techniques that may be combined with other efforts, such as focus groups, consumer surveys, and mystery shopping. Market monitoring is an ongoing and systematic effort. Some activities are repeated over time to support the benchmarking comparisons and trend analyses that are the basis for risk-based and forward-looking supervision.
Market monitoring is essential in consumer protection supervision and may lead to various benefits. It can be used to understand consumer risks, spot emerging risks that have yet to materialize fully, monitor market developments (e.g., the use of artificial intelligence in lending decisions), assess and monitor regulatory compliance, and track consumer behavior and preferences [CGAP].
For market monitoring, there is also needed to control the product range of your competitors. Previously, innovation and market positioning remained essential factors. Data on product launches and possibly product discontinuations will help deliver the right and in-demand products promptly to grow an individual`s business [Pricecop].
Market Monitoring FAQ. CGAP. Retrieved from: https://www.cgap.org/topics/collections/market-monitoring/further-resources
Моніторинг ринку: основні складові. PriceCop. Retrieved from: https://pricecop.net/uk/blog/monitoring-rynka/