Concept of the Benchmarking
28 November 2008 - 19:37
In this summary we will see the concept of the Benchmarking and examples of how applying it in our business.
The Benchmarking, briefly, is a technique or tool of management that consists of taking like reference aspects from our competition, and to adapt them to our business or company.
In order to make use of the Benchmarking, in the first place we must study our competitors (especially to the main ones or the leaders), to compile all excellent information envelope they, to analyze it, and to identify or to emphasize the aspects or strategies that are using or applying and that better results are giving them.
Followed step, we come to take like reference these aspects or strategies, and we adapted to our business, adding to him our improvements and our creativity.
For example, we can take like references its products, their services, their commercial processes of work, their policies, their strategies, their advertizing channels, their points of sale, their promotions, their methods of sales, etc.
We see examples of how to apply the Benchmarking in our business:
We suppose that our competition surpasses to us in sales, then we decided to study it and to see which of their better commercial strategies are those that result they are giving them, once we have identified its more effective strategies, we decided to take them like model we adapted, them to our business, and we added some improvements to him.
Or, for example, we want to apply a promotion strategy that allows us to catch more clients, but nonidealizamos the indicated form to do it, reason why we decided to investigate the strategies of promotion of our main competitors we studied, them, and then we adapted, them we proved and them in our business.
Finally, to stress that the Benchmarking does not mean that we spy or we copy to our competition, but since or we have mentioned, we take like reference its main aspects or strategies, and we adopt to our business, adding to them our improvements and our own creativity.
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Labels: Concepts, Study of market, Tools of business, Marketing
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- Concept and examples of Strategies of Marketing
- The analysis of the competition
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