Benchmarking
- Benchmark with presently available cars in the market for the following case:
Since Pugazhyendhi Budget falls from 8-10 lakhs,lot of cars will be available on the Indian market. But among those top 5 cars which might satisfy the conditions and needs of Pugazhyendhi. Since Pugazhyendhi is using his car for daily purpose, the below cars are best in mileage. He is also fond of big cars Sonet and Nexon will be better option for his desire. And Bangalore is one of the highly traffic area the below mentioned cars are also available in automatic, so driving would be easier.
a. Toyota Glanza:
- Price: 7,90,000
- Mileage: 22.4 kmpl
b. Maruti Suzuki Baleno:
- Price: 7,83,000
- Mileage: 22.4 kmpl
c. Kia Sonet:
- Price: 8,61,355
- Mileage: 19 kmpl
d. Nexon:
- Price: 9,18,938
- Mileage: 21.19 kmpl
e. Dzire:
- Price: 7,50,391
- Mileage: 24.12 kmpl
From above these types, it would be better for Pugazhyendhi to choose Toyota Glanza. Since it is having better mileage, it would be better for him to use as both daily purpose and also for travelling. Since it is a CVT vehicle it would be better to use for heavy traffic place like Bangalore. So Toyota Glanza would be a better option for Pugazhyendhi.
2. Bench-marking:
Industries make products based on customer requirements. But the product varies and satisfy the customer based on its quality and satisfying the customer beyond their needs. So, industries started to analyse the product and compare their product with best products in the market and start to manufacture their products to achieve the best quality to satisfy customer need. So, the process of comparing a product with best product to improvise the quality of their own product is known as Benchmarking.
Benchmarking not only for the product development but it is also for various developments. Since bench-marking is an ideology of improving something better than the previous form or version. It can be used in various fields.
Methods to do the benchmarking:
- Analyse the best product in the market.
- Figure out how the organization is developing the best product.
- Compare our methodology with the methodology of other organization
- Come up with solution to produce the best product.
- Make employees motivated to get the desired output.
- Get feedback from customers regarding the project and collect those data to improvise the quality in future.
Benchmarking also depends on people mindset to upgrade, improvise and march towards a goal of best product and work hard to sustain in that position forever. So benchmarking is the best known idea which leads to development of the organization.