Competitive benchmarking is a method used by companies to compare their performance, strategies, and processes against industry leaders or top competitors. The goal is to identify best practices, uncover performance gaps, and generate insights that drive continuous improvement.
Our competitive benchmarking framework document provides a structured guide to understanding and implementing benchmarking practices, specifically in a product marketing context.
What's inside?
Within the framework document, you'll access the following:
- Types of benchmarking: Internal, external, competitive, industry-oriented, and cross-industry benchmarking are explained. Product marketers can use these different approaches depending on the nature of their analysis.
- Timeline & process: The document details a step-by-step process for benchmarking, starting from defining objectives to final evaluation and continuous improvement. This structured approach ensures thoroughness and clarity.
- Benefits for companies: Competitive benchmarking helps product marketers with strategy reviews, objective setting, and gaining a deeper understanding of business processes, leading to continuous organizational improvement.
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