Advantage of benchmarking , Marketing Management

Benchmarking is in important tool for firms looking to continuously improve their own processes. The obvious advantage of benchmarking is that a firm is able to copy and imitate the characteristics of another firm's successful process, so that those acceptable results may be acheived. One of the disadvantages is that a similiar process may deviate even slightly from firm to firm, so to merely copy another firms's best practice may not be wise.

Benchmarking is a widely accepeted method of process improvement, yet a firm may encounter resistance when enquiring about benchmarking another business entity. Many companys consider their successfull processes as assets, and would be relectant to share details in order to protect such assets.

 

Posted Date: 3/25/2013 5:57:56 AM | Location : United States







Related Discussions:- Advantage of benchmarking , Assignment Help, Ask Question on Advantage of benchmarking , Get Answer, Expert's Help, Advantage of benchmarking Discussions

Write discussion on Advantage of benchmarking
Your posts are moderated
Related Questions
Explain the retailers in primary participants of distribution channels. Retailers: Retailers are all the establishments involved in selling merchandise for household or p

Question (a) When delivering an assertive confrontation message to an employee, you have to be careful not to become defensive or reactive if the employee becomes argumentati

Question 1: (a) What are the qualities that are required for a PR Practionner? (b) What is a corporate image? (c) What in particular distinguishes propag

When customer-facing managers are asked whether their CRM initiatives have been a success , the chances are that many of them will say "no". Ask them why they failed, and they will

What is Introductory Stage in marketing strategies? Introductory Stage: a. Rapid skimming strategy : New product launch at high rate and a high promotion level. High pri

list out the secondary sources of information while pursuing market research?

How is evaluation and selection important in decision making process? Evaluation and Selection: These are two-stage decision process of circulating of supplier and select

Market segmentation Concept and definition: the concept of the market segment is based on the fact that the markets of the commodities are not homogenous but they are heterog

"consumer mind is a block box"-discuss

What are the advantages of licensing in marketing? Licensing comprises little involvement and expense. The simply cost is signing the policing and agreement its implementatio