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

Show the factors affecting the advertising budget, Q. Show the Factors affe...

Q. Show the Factors affecting the Advertising Budget? Factors affecting the Advertising Budget 1) Market Size 2) Stage in Product Life Cycle. 3) Advertising Strategy

Shopeersstop, what are significant factors that have led to the success of ...

what are significant factors that have led to the success of shoppers'''' sto

What is maturity stage of product life cycle, What is Maturity Stage of Pro...

What is Maturity Stage of Product Life Cycle? Maturity Stage: A period of a slowdown in sales growth as productions achieved acceptance by most potential buyers. Profits s

Algebra 2, 1. Isaac goes to an amusement park where tickets for the rides c...

1. Isaac goes to an amusement park where tickets for the rides cost $25 per sheet and tickets for the shows cost $10 each. a. Write an expression that describes the amount of money

IN DEPTH, I WANT TO KNOW THAT WHAT IS INTERNET OF THE FUTURE WHAT IS WHAT I...

I WANT TO KNOW THAT WHAT IS INTERNET OF THE FUTURE WHAT IS WHAT I AM CURRENTLY STUDING IN MY MASTERS OF BUSINESS ADMINISTRATION ABOUT CUSTOMIZATION WOULD YOU KINDLY PROVIDE ME SOME

Ethics sustainability and culture, I will provide a cases from the media th...

I will provide a cases from the media that have ethical implications. Please prepare a ppt presentation that: a) describes the issue/story (Clearly identify which case you ar

Explain the various stages of the product cycle, Question 1: Explain th...

Question 1: Explain the various stages of the product cycle and explain why it is necessary to follow the procedures regarding this cycle. Question 2: (i) Explain the

Essay, Consumer mind is black box. Discuss

Consumer mind is black box. Discuss

Test marketing, what is test marketing and various approcehes that are foll...

what is test marketing and various approcehes that are followed by FMCG companies in test marketing

Explain the elements of marketing mix, Question 1: (a) What do you und...

Question 1: (a) What do you understand by the term "market segment"? (b) Explain why the concept of segmentation may be of value to the marketing department of a large bus

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