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.

Understand fully the purpose and use of benchmarking.
Understand the difference between benchmarking and competitor research.
Gain insight to ensure that benchmarking is in alignment with the company’s management objectives.

Three ways to use benchmarking
Benchmarking, whether internal or external, is used in three key ways. They are:

Process benchmarking:
This is all about better understanding your processes, comparing performance against internal and external benchmarks, and finding ways to optimize and improve your processes. The idea is that, by understanding how top performers complete a process, you can find ways to make your own processes more efficient, faster, and more effective.

Strategic benchmarking:
This compares strategies, business approaches and business models to strengthen your strategic planning and determine your priorities. The idea is to understand what strategies underpin successful companies (or teams or business units) and then compare these strategies with your own to identify ways you can be more competitive.

Performance benchmarking:
This involves collecting information on how well you’re doing in terms of outcomes (which could mean anything from revenue growth to customer satisfaction) and comparing these outcomes internally or externally. This can also refer to functional performance benchmarking, such as benchmarking the performance of the HR team (using metrics like employee net promoter score or staff engagement surveys) or the marketing team (measuring net promoter score or brand awareness, for instance).

Let us sort out the requirements of Mr. D. S. Pughazhyendhii
⦁ His family comprises five members including his wife, 5year old kid, his father & mother.
⦁ He visits his native place Madurai which is 500 km away from Bangalore once in a month.
⦁ He lives in Bangalore city which is highly crowded and commutes to his office daily.
⦁ The budget is between 8 to 10 lacs on-road price.
⦁ He is fond of big cars.
which seems he required a vehicle with following
⦁ 5-7 seater with comfortable seating.
⦁ Long-range drive performance.
⦁ Speed and Efficient.
⦁ Enough Boot space for Luggage.
⦁ Enough Rear Legroom space.
⦁ As he commutes in Bangalore which is heavily crowded and roads with congested traffic Automatic Gear Transmission is best suited and also keeping in mind Fuel Economy is also a key factor to save fuel costs. But Automatic Gear Transmission is expensive and Fuel consuming. But let us consider in requirements

CUSTOMER’S REQUIREMENTS:
Here our customer MR.PUGHAZENDHI is fond of big cars although his budget falls under 8-10 lakhs. His family comprises of five members including his 5yrs old child. He uses his car for daily commutating in Bangalore city, a highly-traffic area, and for a long drive in a month to his native Madurai with ladies and children on board, which is almost 1000km up and down from Bangalore. So, considering safety, tractability, mileage, and performance, a few of India's best available cars are listed below.
⦁ TATA NEXON
⦁ KIA SONET
⦁ TOYOTA URBAN CRUISER
⦁ HYUNDAI Venue

TATA NEXON:

Variant: XMA AMT
The price of the Tata Nexon XMA AMT in New Delhi is Rs 9.25 Lakh (Ex-showroom).
Tata Nexon XMA AMT mileage: It returns a certified mileage of 16.35 kmpl.
Tata Nexon XMA AMT Colours: This variant is available in 5 colors: Royal Blue, Daytona Grey, Calgary White, Foliage Green, and Flame Red.
Tata Nexon XMA AMT Engine and Transmission: It is powered by an 1199 cc engine which is available with an Automatic transmission. The 1199 cc engine puts out 118.36bhp@5500rpm of power and 170nm@1750-4000rpm of torque.
Nexon XMA AMT Specs & Features: Tata Nexon XMA AMT is a 5-seater Petrol car. Nexon XMA AMT has Multi-function Steering Wheel, Power Adjustable Exterior Rear View Mirror, Touch Screen, Automatic Climate Control, Engine Start Stop Button, Anti Lock Braking System, Alloy Wheels, Power Windows Rear, Power Windows Front, and Wheel Covers.

Pros:
Best in terms of safety in the Compact SUV segment
⦁ A 5-star safety rating feels solid.
⦁ Availability of both petrol & diesel with MT and AMT.
⦁ Good in terms of variants availability.
⦁ Spacious in terms of the front and rear seats both.
⦁ Spacious interiors, sunroof across versions.

Cons:
⦁ AMT gearbox value based but has shift lags.
⦁ No telescopic steering wheel is available.
⦁ The petrol engine isn't as smooth as its rivals.
⦁ The quality of the headlamps could have been better.

KIA SONET

VARIANT: 1.5HTE DIESEL
The price of the Kia Sonet 1.5 HTE Diesel in New Delhi is Rs 8.89 Lakh (Ex-showroom).
Kia Sonet 1.5 HTE Diesel mileage: It returns a certified mileage of 18 kmpl.
Kia Sonet 1.5 HTE Diesel Colours: This variant is available in 10 colors: Intense Red, Intelligence Blue, Gravity Gray, Glacier White Pearl, Aurora Black Pearl, Steel Silver, Intense Red With Aurora Black Pearl, Glacier White Pearl With Aurora Black Pearl, Beige Gold and Beige Gold With Aurora Black Pearl.
Kia Sonet 1.5 HTE Diesel Engine and Transmission: It is powered by a 1493 cc engine which is available with a Manual transmission. The 1493 cc engine puts out 98.63bhp@4000rpm of power and 240nm@1500-2750rpm of torque.
Kia Sonet 1.5 HTE Diesel Specs & Features: Kia Sonet 1.5 HTE Diesel is a 5-seater Diesel car. Sonet 1.5 HTE Diesel has Multi-function Steering Wheel, Power Adjustable Exterior Rear View Mirror, Touch Screen, Automatic Climate Control, Engine Start Stop Button, Anti Lock Braking System, Alloy Wheels, Fog Lights - Front, Power Windows Rear, Power Windows Front.

Pros:
⦁ Sharp & premium styling
⦁ Well-laid-out interiors, feature loaded
⦁ Nimble and easy to drive

Cons:
⦁ Rear seat legroom is just adequate
⦁ Top-end versions are pretty expensive
⦁ High waiting continues to plague deliveries

TOYOTA URBAN CRUISER

VARIANT: MID
The price of the Toyota Urban Cruiser Mid in New Delhi is Rs 9.03 Lakh (Ex-showroom).
Toyota Urban Cruiser Toyota Urban Cruiser Mid mileage: It returns a certified mileage of 17.03 kmpl.
Toyota Urban Cruiser Toyota Urban Cruiser Mid Colours: This variant is available in 9 colors: Sunny White, Iconic Grey, Suave Silver, Rustic Brown, Spunky Blue, Groovy Orange, Rustic Brown With Sizzling Black Roof, Groovy Orange With Sunny White Roof and Spunky Blue With Sizzling Black Roof.
Toyota Urban Cruiser Toyota Urban Cruiser Mid Engine and Transmission: It is powered by a 1462 cc engine which is available with a Manual transmission. The 1462 cc engine puts out 103.26bhp@6000rpm of power and 138nm@4400rpm of torque.
Toyota Urban Cruiser Mid Specs & Features: Toyota Urban Cruiser Toyota Urban Cruiser Mid is a 5-seater Petrol car. Urban Cruiser Toyota Urban Cruiser Mid has Multi-function Steering Wheel, Power Adjustable Exterior Rear View Mirror, Touch Screen, Automatic Climate Control, Engine Start Stop Button, Anti Lock Braking System, Alloy Wheels, Fog Lights - Front, Fog Lights - Rear, and Power Windows Rear.

Pros:
⦁ Unbeatable mechanical reliability
⦁ Strong resale value & wallet-friendly maintenance
⦁ Comfortable ride quality
⦁ Toyota's service backup is a peace of mind in itself

Cons:
⦁ Looks completely identical to the Brezza
⦁ No diesel engine option
⦁ Less on equipment as compared to the rivals