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 the functions of channel of distributions, Describe the functions ...

Describe the functions of channel of distributions Principally a channel of distribution performs the below functions: (a) It helps in establishing a regular contact with cu

Explain the role of the basic marketing mix, The DD drinks company was foun...

The DD drinks company was founded over one hundred years ago by a deeply religious family and has been recognised as being a good employer ever since. The company has a long histor

Marketing mix, This comprises the marketing tools and techniques an organiz...

This comprises the marketing tools and techniques an organization uses to achieve its targets relative to a specific goal market audience.

Describe the phases in the evolution of retail market, Problem 1: Descr...

Problem 1: Describe the phases in the evolution of retail market - Detail explanation on ‘Evolution of Retail in India'. Problem 2: What are the tasks handled by a p

Show the characteristics of distribution channels, Q. Show the Characterist...

Q. Show the Characteristics of Distribution Channels? Characteristics of Distribution Channels: Distribution channels are able to be classified on the basis of geographical d

Describe total relationship marketing, Question: a) What is loyalty in...

Question: a) What is loyalty in a service context and how can firms benefit from a price premium with loyal customers? b) Describe total relationship marketing. How would y

Effective distribution channel, Analyse the value of an effective distribut...

Analyse the value of an effective distribution network to the marketing of fast-moving consumer goods in highly competitive markets and describe the criteria you would use in order

#title.marketing mix., Solving Customer Problems in Ways They Never Imagine...

Solving Customer Problems in Ways They Never Imagined

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