Benchmarking
BENCHMARKING
Benchmarking is a process of measuring the performance of a company’s products, services, or processes against with the companies working in same sector with similar type of products, services or processes. The benchmarking process helps the companies to improving their products or services.
There are different types of benchmarking but they can be classified into three categories as follows.
Internal benchmarking is used when organisation already have different types of products or services which are already established. In this type they compare their own products with each other.
Competitive benchmarking is used when organisation want to compare its own products with the competitors. This type of benchmarking helps organisation to understand their market position and the areas where they need to focus to improve their product performance than the competitors.
Strategic benchmarking is used when identifying and analysing world-class performance. This form of benchmarking is used most when a company needs to go outside of its industry.
REQUIREMENT
Benchmark with presently available cars in the market for the following case.
Mr. D.S. Pughazhyendhii is a married man who lives in Bangalore which is a highly crowded city. His Family comprises five members including his wife, five-year-old boy, his father, and his mother. He visits his native place Madurai which is 500kms away from Bangalore once in a month. Also, he will be using his car to commute to his office. His budget falls between 8 to 10 lakhs on road. Please suggest to him with options so that he will buy a good car for his family.
Note: Pughazhyendhii is fond of big cars
Suggestable Cars
- HYUNDAI Venue
- KIA Sonet
- FORD Eco Sport
- TATA Nexon
- Renault Kiger
Suggestion
The user wants to use this car for daily use so the prime requirement is milage so it would be good to go with KIA SONET as it has highest milage in segment but it has 3 Star NCAP rating.
If the customer wants to give priority to safety of the passengers, then he can go with TATA NEXON which has 5 Star NCAP rating.
My opinion is that customer should go with HYUNDAI VENUE as it has good 2nd highest milage value in segment and has 4 Star NCAP rating. Which can offer both milage and safety to passengers.