Benchmarking
Benchmarking
Problem Statement
Mr . D.S. Pughazhyendhii is a married man who lives in Bangalore which is a highly crowded city.His Family comprises of five members including his wife, five-year-old boy, his father and mother. He visits his native place Madurai which is 500 kms away from Bangalore once in a month. Also, heMadurai which is 500 kms 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 him with options so that he will buy a good car for his family.
Objective of problem statement:
- Provide the the vehicle to Mr . D.S. Pughazhyendhii within the price range of the 8 to 10 lakh.
- Vehicle should have the capacity of at least 5 person.
- It should have the least maintenance cost & have better fuel efficiency.
Benchmarking study:
What Is Benchmarking?
Benchmarking is the practice of comparing similar products,business processes and performance matrix to industry bests and best practice from other companies. Dimensions typically measured are quality,time cost.
Benchmarking is a process where you measure your product success against other similar products to discover if there is a gap in performance that can be closed by improving your performance. Studying other products can highlight what it takes to enhance your product efficiency.
Benchmarking is used to measure performance of different kinds of products using a specific resulting in a metric of performance that is then compared to others
The bench marking process involves the following steps
- Planning
- Collection of information
- Analysis of data
- Action
- Monitoring
Cars i have considered
Kia Sonet:
Hyudai Venue:
Maruti Suzuki Vitara Breeza:
TATA Nexon:
Mahindra XUV300
Below table shows the data collection
Discussion
- As we discuss about some cars in the range of the 8 to 10 lakh, we shorted out some cars which is affordable and which meets his requirements.
- From the data we can say that kia sonet is having less safety rating compare to other cars
- If we consider vitara and mahindra mileage is less and also maintenance cost is more
- Tata Nexon and Venue is appordable
Conclusion
My recomdation he should go for between Nexon and Venue in that Nexon is better having 5 star rating and good in mileage also.I recomend him to buy a Tata Nexon