Competition benchmarking is the process of comparing a company against several competitors using a set collection metrics. It is generally a way of determining the best processes, strategies and techniques for achieving business goals.
The benefits of competitive benchmarking are clear as it allows you to gain an independent perspective about how well you perform compared to your competitors and helps you develop a standardized set of process and metrics.
We help organizations to constantly improve their products, services, pricing and practices by observing the current standard and then trying to surpass it.
We at Najmi have a 4-step check system for competitive benchmarking:
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We conduct industry research for rate metrics
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Identify competitors
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Measuring market gap
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Tracking Performance
We conduct competitive benchmarking after studying best practices for a particular strategy or technique and adopting it for your business. We perform a detailed competitive analysis in market research reports which provides a clear idea regarding market share analysis, cross company comparisons, strength and weakness analysis and company profile that benchmark your performance to your competitors.
Our services will harness your data analytics expertise towards effective company benchmarking and competitive benchmarking. We analyze gaps in current technique, helping companies comprehend their business deficiency augmenting them towards achieving the company’s goals and objectives.