Monitoring and measuring a competitive frame analysis
Monitor and measure your competitive frame on a quarterly basis. Whether your systems for handling each specific industry competitor are simple or complex, the frame can be monitored in a simple
Excel file. Be sure to download our Competitive Frame Analysis Grid in MidMarketer.com’s tool section.
Tip
When performing your quarterly audit, don’t get stuck on specific competitors. Instead, focus your time and effort on “types” of competition.
Then, see what types of competition are becoming more or less of a threat. Each review point should identify one or two types of competition that are becoming more of a threat, as well as one or two types that are becoming less of a threat.
Look at and review these changes, and try to understand how you may need to modify strategies or create new ones.
