Why is this comparison made? This allows you to assess its strategy, business choices such as investments, and to recognize a given market segment in its entirety. All this can be use to compare your own company with the leaders in the current functioning of the company, and this gives potential interesting marketing or strategic ideas that give real sales support . However, benchmarking can also be use at the stage of a business plan or starting a business. Then the comparison will allow you to better assess the market and plan new opportunities.
To differentiate a product from
Which will give you a chance to avoid some of the pitfalls face by a company just starting up strategic benchmarking It is assume that strategic benchmarking consists of five stages. In the first of them, you nee to choose the object of comparison, remembering whatsapp mobile number list that entire companies or sectors are less suitable for this than individual concepts or approaches. In the second step, you can choose a company that implements this specific approach or strategy successfully. The next step is to study the functioning of this company. The fourth step is to compare the conclusions of such an analysis with the company’s strategy. In the last step, it is enough to implement these solutions in your own enterprise.
The competition through marketing
Strategic benchmarking – an example Larisa Dragolea and Denisa Cotîrlea in the work “Benchmarking – a valid strategy for the long term?” provide well-known examples of strategic benchmarking at the junction of two companies from Gulf Phone Number completely different industries: – Motorola and Domino’s Pizza, – Xerox and LL Bean, – Digital Equipment Corporation and Whirlpool. Strategic benchmarking has the potential for great benefits, but it also carries some risks: “ Organizations that have little experience in benchmarking easily manage to accurately select a valuable pattern in a given industry. However, they are unable to discover how such impressive results were achieve.