Benchmarking
Benchmark analysis
Benchmarking is a method of measuring the performance and specifications of a company’s products or services. The main aim of benchmarking is to identify internal chances of improvement. The benchmarking structure is simply a comparison of different company products measuring the same part or identity. This will help you to breakdown the whole information of the product in simple structure and analyze the competitors and later implement changes that will yield significant improvements.
There are different types of benchmarking strategies. The commonly used are as follows:
- Technical Benchmarking – is performed by the internal staff of the company to determine the capabilities of the products and services as a whole with respect to leading competitors.
- Competitive Benchmarking – is done to compare with leading competitors especially with respect to critical characteristics like size, shape, price and so on.
The steps involved in benchmarking process are as follows:
- Choose a product or service to benchmark
- Determine which best specs you would like to compare to
- Gather information on their performance and variants
- Compare the data from the collected information
- Analyze the competitors and adopt changes to yield improvements
The advantages of Benchmarking:
- Analyze competitors and understanding the current and emerging market trends.
- Helps to minor the performance and help to develop a goal in order to compete with others.
- Helps to encourage team cooperation and interests and become more challenging.
- Developing the metrics based on current and emerging market trends and thereby, increasing more demand.
Benchmarking of best suitable cars for Mr. D.S. Pughazhyendhii based on his top needs as follows:
|
Top cars of 2020 |
Tata Nexon
|
Mahindra XUV 300
|
Ford EcoSport
|
Renault Duster
|
|
Seating capacity |
5 |
5 |
5 |
5 |
|
Body type |
SUV |
SUV |
SUV |
SUV |
|
Transmission type |
Automatic |
Automatic |
Manual |
Manual |
|
Length (mm) |
3993 |
3995 |
3998 |
4360 |
|
Width (mm) |
1811 |
1821 |
1765 |
1822 |
|
Height (mm) |
1606 |
1627 |
1647 |
1695 |
|
Max Power (bhp@rpm) |
108.5bhp@4000rpm |
115bhp@3750rpm |
98.96bhp@3750rpm |
104.55bhp@5600rpm |
|
Gross weight (kg) |
1305 |
1404 |
1309 |
1777 |
|
Front Legroom (mm) |
900-1050 |
850-620 |
955-1105 |
977 |
|
Rear Legroom (mm) |
1385 |
1330 |
1225 |
1325 |
|
Ground Clearance (mm) |
209 |
180 |
200 |
205 |
|
Mileage (ARAI) |
21.5 Kmpl |
20.0 kmpl
|
21.7 kmpl
|
17.0 kmpl
|
|
Service cost (Avg. of 5 years) |
Rs- 3000-6000 |
Rs.3,587-5000 |
Rs.4,734-5500 |
Rs.3,858-4500 |
|
Price (Rupees) |
Rs. 6.94 - 12.69 Lakh* |
Rs. 8.3 - 12.69 Lakh* |
Rs. 8.17 - 11.71 Lakh* |
Rs. 8.49 - 9.99 Lakh* |
|
Rate of recommendation |
😊😊😊😊 | 😊😊 | 😊😊😊 | 😊 |
Based on the requirements of Mr. Pughazhyendhii, the best suitable car is Tata Nexon. It is a 5-seater, SUV, mileage friendly and in lies in his budget. This car is efficient for long distance travelling on highways and also for domestic needs when compared to other top cars in the same budget. The legroom space of the car is also high compared to others which gives a good comfort driving experience.