Advantage of benchmarking , Marketing Management

Assignment Help:

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.

 


Related Discussions:- Advantage of benchmarking

Segmentation, Identify and briefly describe the criteria you would use to h...

Identify and briefly describe the criteria you would use to help establish whether a variable is useful as a segmentation base.

Three types of buying situations, differentiate the three types of buying s...

differentiate the three types of buying situations during the purchase decision

Write short notes on service marketing, Question 1: "Successful Marketi...

Question 1: "Successful Marketing depends largely on a company's ability to manage its marketing programmes within its environment". (a) What is your understanding by "

Algbra 2, If 3a-2b=8 and a+3b=7, what is the value of 4a+b?

If 3a-2b=8 and a+3b=7, what is the value of 4a+b?

Distinguish between recipe costing and menu costing, Question 1: (i) E...

Question 1: (i) Explain why the control system is an important aspect of the food and Beverage management of a hotel. (ii) Discuss the necessity and importance of docum

Differentiated pricing, Differentiated pricing  - Some of the firms char...

Differentiated pricing  - Some of the firms charge different prices for the similar product in different zones/ areas of the market. Sometimes, the differentiation in pricing is

Design a performance evaluation report, The purchasing department of Bradle...

The purchasing department of Bradley Inc. is responsible for companywide purchasing. Its total costs are assigned to each division based on the number of purchase orders the purcha

Examine the marketing initiatives of a tourism organisation, Question 1: ...

Question 1: "Marketing has been called both a major villain for its role in stimulating unsustainable levels of demand and consumption, and also a saviour through its applic

Marketing communication, Problem 1 (a) The development of inter-organi...

Problem 1 (a) The development of inter-organizational relationships is best known through personal selling rather than through exhibitions and trade shows. Explain. Proble

Importance of opinion leaders to promotional planners, Question 1: (a) ...

Question 1: (a) As a Consultant in direct marketing, how would you convince your corporate customers to use the tools and techniques of direct marketing to grow their busines

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd