Bench-marking and Competitive Analysis

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Bench-marking and Competitive Analysis

Postby p14sneha@gmail.com Fri Oct 12, 2018 9:58 am

Hi
What is Difference between Benchmarking and Competitive analysis? Can explain with example please for better understanding.
seema.sonkiya
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Re: Bench-marking and Competitive Analysis

Postby seema.sonkiya Tue Oct 16, 2018 11:14 am

The Goal of benchmarking is to understand industry benchmarks, it is kind of market research which helps to compare their existing performance against benchmarks.

Here you analyze best practices and services due to their superior performance and wide acceptance. For example, you can analyze what is the industry standard for the premium mobile phone which is widely accepted.


And the goal of Competitive Analysis is to understand your competitors what they do? what are their strategies, what are their strength and weakness related to your project?

It helps to understand what can be done to make your product unique. If you will copy competitors, you are not unique, but at the same time, you need to give value in a different way by making yourself unique.
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Re: Bench-marking and Competitive Analysis

Postby p14sneha@gmail.com Thu Oct 18, 2018 4:30 am

Thanks for explaining well!

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