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

Describe about the sales promotion tool, Describe about the Sales promotion...

Describe about the Sales promotion tool Advertising and sales promotion are tools which allow for a high level of control by the sponsor while public relations, and publicity in

Properties of triangle, properties of triangles. in the following problem...

properties of triangles. in the following problem, In a triangle ABC,if r1 is the exradius of the excircle opposite to A,r2 is the exradius of the excircle opposite to B and r3i

Explain about facet model, Question: A facet model has been derived for...

Question: A facet model has been derived for an effective advertising. It consists of six modes namely Perception, Cognition, Affective, Association, Persuasion and Behaviour.

What are the conventional advertising mediums, Question: You have been ...

Question: You have been asked to attend a Design Workshop, of 200 people, to discuss the main importance of conventional advertising mediums. Being a student of Creative Advert

Importance of advertising in marketing communications mix, Problem 1 Yo...

Problem 1 You are the marketing manager of a bank and you want to persuade the general manager that it is important to include advertising in your organizations marketing commu

Effect on children in aspect of advertising, Q. Effect on Children in aspec...

Q. Effect on Children in aspect of advertising? Effect on Children: - When kids plus children watch an advertisement they are unable to assess the advantages and disadvantage

Brand promotion, What do you think that thisbrand promotion technique can b...

What do you think that thisbrand promotion technique can benefits an organisation by incresing sale

Define organizational buying decision process in briefly, Define the Organi...

Define the Organizational Buying Decision Process in briefly. The Organizational Buying Decision Process: Business buyers do not buy goods for only personal consumption.

Importance of marketing to the society, Importance of marketing Import...

Importance of marketing Importance of marketing to the society 1.      Delivery of standard of living to the society: main liability of the marketing is to produce goods a

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