As an Amazon Associate I earn from qualifying purchases.

Benchmarking Definition and Explanation PDF Download

Learn Benchmarking definition in marketing with explanation to study “What is Benchmarking”. Study benchmarking explanation with marketing terms to review marketing course for online MBA programs.

Benchmarking Definition:

Benchmarking Explanation:

It is a mechanism of comparing one company's performance with another. It can be conducted within the company's business, by comparing them within an industry, or also by comparing them with different industries. The benchmark process can be tested on the following terms; ascertain about its product features, level of quality provided, expertise of process, financial and its operational performance.

Keep Learning Marketing Explanations

What are Pleasing Products?

These items have short run purchaser benefits however high level of prompt delight. These items may hurt customers over the ...

What is Point-of-Purchase (P-O-P?

A point of procurement is a term utilized by advertisers and retailers when arranging the position of items for purchasers, ...

What is Product Assortment?

Picking the correct blend of items to sell in a retail location requires more than picking things with the best ...

What are Needs?

This is very not quite the same as necessities. Needs aren't lasting and it normally changes. Over the long haul, ...

What is Purchase Decision?

Buy choice is the point of view that leads a purchaser from distinguishing a need, creating choices, and picking a ...

What is Brand Knowledge?

It is defined as that how consumers are aware about the brand; it can be developed by its brand image, ...