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

Setting the advertising objectives, Setting the advertising objectives: ...

Setting the advertising objectives: The advertising objectives must flow from prior decisions on the target market, market positioning, and the marketing mix. Advertising obj

Maslow or herzberg relates to cm8''s modular teams, X began his engineering...

X began his engineering apprenticeship with CM8 manufacturing ten years ago before moving abroad to work for other companies. He has now returned to work for CM8 as Operations Mana

What is licensing in foreign marketing, What is licensing in foreign market...

What is licensing in foreign marketing? Licensing: Licensing is explained as “the method of foreign operation whereby a firm within one country agrees to permit a company

What is the meaning of selling concept, What is the meaning of selling conc...

What is the meaning of selling concept? Meaning: Selling concept declares that consumers will not buy adequate of the organization’s products unless the organization unde

Nike., pros, cons and risk associated with core marketing strategies of nik...

pros, cons and risk associated with core marketing strategies of nike

Product policies, Product policies: Product policies are the general...

Product policies: Product policies are the general rules set up by the management itself in the marketing product decisions. Products of a firm are the backbone with which p

What is psychographic or psychological segmentation, What is Psychographic ...

What is Psychographic or Psychological Segmentation? Psychographic/Psychological Segmentation: A Psychographic or Psychological characteristic taken as to inner character

Explain about the shopping goods, Explain about the Shopping Goods Thes...

Explain about the Shopping Goods These are goods that are purchased less frequently and are used very slowly such as clothes, shoes, household appliances. In case of these good

Co-branding, what is meant by line extension of a product?

what is meant by line extension of a product?

Consumer behaviour, suggest how cultural values, beliefs and behaviour affe...

suggest how cultural values, beliefs and behaviour affect m,the marketing mix of a large bookstore chain

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