Benchmarking

Benchmarking: It is also called as a Comparison. That is, if we are developing a product, we go through a lot of research of that product design having manufactured by the other company or competitor taking all the pros and cons of their design and compare it with our product and increase our sales by working on that cons and make a better product with in the budget selling it in reasonable price to make profits.

In other words, we can say, we take the feedback or Dis-satisfaction of customers on the product of our competitor company and taking that as input to get the best output for our product.