Brand monitoring is a business analytics process concerned with monitoring various channels on the web or media in order to gain insight about the company, its products, brand, and anything explicitly connected to the business. It is about monitoring the brand’s reputation and reception by the general public and the consumer base and targeted demographic.
Techopedia explains Brand Monitoring
Brand monitoring deals with regularly and strategically investigating media and online resources in order to discover and eventually react to the different sentiments that you and your competitor’s brand are experiencing.
This means monitoring the brand’s reputation and proactively reacting to press and customer concerns and reactions in order to foster trust in the brand.
Identify and address infringers - Brand infringers are always looking at the name and popularity of brands in order to ride on their popularity. Monitoring allows a business to discover infringers who adopt brand and domain names that are confusingly similar to your own. Trademark law is supposed to protect consumers and brand owners from and unfair competition and brand monitoring is a way to enforce this.
Addressing competitor and consumer reactions - brand monitoring allows the business to react to consumer sentiment, positive or negative, which is usually expressed in social media, forums and complaints sites. This also allows the business to monitor competition representations of your own brand usually in the form of comparative advertising and negative reviews.