How much work is involved in a competitive frame analysis, and what priority should be placed on it?
Assign high priority. An accurate and up-to-date competitive frame can become the foundation for making the most of new opportunities-and anchoring company growth. So get busy!
If you haven’t already done this exercise, plan it out today.
Expect to spend a half-day to build your initial grid set. Before starting, enlist a few other colleagues to help identify as many competitors as possible. (That is, something other than specific companies.)
After your grid is set, spending just a half-day each quarter will help you accurately analyze competitive shifts.
