What is Benchmarking in Marketing?

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.

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