Benchmarking

CHALLENGE - 2 BENCHMARKING

AIM:

To define the Benchmarking and select the best car for Mr. D.S. Pughazhyendhii for his family by consider and comparing 4 or more than 4 cars between them in the price range of 8-10 Lakhs.

WHAT IS BENCHMARKING:

Benchmarking is a process where you measure your company’s success against other similar companies to discover if there is a gap in performance that can be closed by improving your performance. Studying other companies can highlight what it takes to enhance your company’s efficiency and become a bigger player in your industry.

BENEFITS OF BENCHMARKING:

• Keep improving internal operations.
• Understand what’s working and what isn’t.
• Adopt or improve upon competitors’ practices.
• Reduce costs by increasing efficiency.
• Focus on practices and offerings that promote customer satisfaction and loyalty.

TYPES OF BENCHMARKING:

• Internal Benchmarking:

Internal benchmarking is pretty straightforward. You compare a process or task to a similar process or task within the company. This type of benchmarking is effective because it helps set and meet standards across the board, establishing consistency and ensuring that each department is as efficient as possible.

• External Benchmarking:

External Benchmarking is comparing an internal process to that of a competitor or even several other organizations. This approach can be a little trickier because it requires access to industry data or specific company data, which may not be available unless the other organization has agreed to share it with you. External benchmarking is extremely valuable. You can better understand where your business fits into the wider market and identify areas of weakness that you should be focusing on.

• Competitive Benchmarking:

Competitive benchmarking is a type of external benchmarking that solely focuses on comparing your own processes and metrics to those of direct competitors. This form of benchmarking is significant because you can identify exactly why a competitor is succeeding or what drives customer satisfaction in your industry.

• Performance Benchmarking:

Another important form of benchmarking is related to business performance. By tracking metrics and KPIs within the business, teams can continue to compare past outcomes to current standards, continuously updating the standard for improved performance. This type of benchmarking is focused on improving key business functions over time, since the idea is that benchmarks will continue to be raised and strengthened.

• Strategic Benchmarking:

Strategic benchmarking is typically external and specifically analyses how other companies got to be successful. What kind of business strategies do they employ? For example, what is successful about their marketing campaigns. Benchmarking the way, you strategize can help you learn from what has worked for winning businesses in and out of your industry. This is especially helpful for new businesses or start-ups.

• Practice benchmarking:

This form of internal benchmarking relates to the practices and processes of your business. This requires you to have procedures in place to gather and analyse business data, like how employees and teams are completing their tasks or using certain technologies. Process mapping is one way to start practice benchmarking, and you can quickly identify and address any performance gaps in the company.

CAR SELECTION PROCESS:

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.

For above consideration I compare some vehicles for him that mentioned below and suggest best car for him.

CARS CONSIDERED:

• TATA PUNCH
• NISSAN MAGNITE
• RENAULT KIGGER
• MAHINDRA XUV300
• TATA NEXON

TATA PUNCH:

Price and Specification:

Price	₹ 5.93 - 9.49 Lakh
Fuel Type	Petrol
Mileage	18.8 - 18.9 km/l
Seating Capacity	5 People
Safety Rating	5 Star (Global NCAP)
Warranty	2 Years or 75000 km
Engine Size	1199 cc
Transmission	Manual, Automatic (AMT)
Size	3827 mm L X 1742 mm W X 1615 mm H
Fuel Tank	37 litres
Ground Clearance (mm)	187 mm

NISSAN MAGNITE:

Price and Specification:

Price	₹ 5.97 - 10.53 Lak
Fuel Type	Petrol
Mileage	17.7 - 20 km/l
Seating Capacity	5 People
Safety Rating	4 Star (ASEAN NCAP)
Warranty	2 Years or 40000 km
Engine Size	999 cc
Transmission	Manual, Automatic (CVT)
Size	3994 mm L X 1758 mm W X 1572 mm H
Fuel Tank	40 litres
Ground Clearance (mm)	205 mm

RENAULT KIGER:

Price and Specification:

Price	₹ 5.99 - 10.62 Lakh
Fuel Type	Petrol
Mileage	18.2 - 20.5 km/l
Seating Capacity	5 People
Safety Rating	4 Star (Global NCAP)
Warranty	2 Years or 50000 km
Engine Size	999 cc
Transmission	Manual, Automatic (AMT), Automatic (CVT)
Size	3991 mm L X 1750 mm W X 1605 mm H
Fuel Tank	40 litres
Ground Clearance (mm)	205 mm

MAHINDRA XUV300:

Price and Specification:

Price	₹ 8.41 - 14.07 Lakh
Fuel Type	Petrol, Diesel
Mileage	17 - 20 km/l
Seating Capacity	5 People
Safety Rating	5 Star (Global NCAP)
Warranty	3 Years (Unlimited KMs)
Engine Size	1197 cc, 1497 cc
Transmission	Manual, Automatic (AMT)
Size	3995 mm L X 1821 mm W X 1627 mm H
Fuel Tank	42 litres
Ground Clearance (mm)	180 mm

TATA NEXON:

Price and Specification:

Price	₹ 7.59 - 14.08 Lakh
Fuel Type	Petrol, Diesel
Mileage	16.3 - 22 km/l
Seating Capacity	5 People
Safety Rating	5 Star (Global NCAP)
Warranty	2 Years or 75000 km
Engine Size	1199 cc, 1497 c
Transmission	Manual, Automatic (AMT)
Size	3993 mm L X 1811 mm W X 1606 mm H
Fuel Tank	44 litres
Ground Clearance (mm)	209 mm

CONCLUSION:

By above cars considerer from their price and specification the important specification to buy car in our country is Price, Mileage, Safety and Warranty. So, consider this (Price - ₹ 8.41 - 14.07 Lakh, Mileage - 17 - 20 km/l, Safety - 5 Star (Global NCAP) and Warranty - 3 Years Unlimited KMs) MAHINDRA XUV 300 is best for Mr. D.S. Pughazhyendhii and his family even the car is nearly 10 lakhs due to he is fond of big cars.