Benchmarking Process Comparison Quiz

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What is a key variable related to 'Product' that organizations should consider?

Brand name of product

Timing of product delivery

Material of product (correct)

Cost of product

In the context of 'Selling and Marketing', what is a strategy for saving costs mentioned in the text?

Identifying unsatisfied needs of customers (correct)

Increasing promotional activities

Benchmarking with competitors

Reducing product quality

What aspect of 'Productivity' involves a mixture of ingredients to satisfy customers?

Time management

Innovative design

Cost reduction

Quality improvement (correct)

Which of the following is NOT a consideration when measuring an airline company's performance?

Variety of dishes served onboard Signup and view all the answers

When should an organization go for benchmarking according to the text?

When there is more competition in the market Signup and view all the answers

What is the main purpose of internal benchmarking?

To evaluate progress and set goals using the firm's own past performance Signup and view all the answers

What is the significance of 'Zero Defect Level' in benchmarking?

It represents a stage where there are no defects in the product, process, and organization Signup and view all the answers

Why is it crucial for an organization to match its distribution channel with other organizations in benchmarking?

To reduce the delivery time of products Signup and view all the answers

In benchmarking, what is the main consideration when evaluating the technology used by other companies?

Whether the technology is local or imported Signup and view all the answers

How does benchmarking contribute to sales forecasting improvement in organizations?

By minimizing the order taking to order delivery time for more sales to customers Signup and view all the answers

Benchmarking Process Comparison Quiz

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Questions and Answers

What is a key variable related to 'Product' that organizations should consider?

In the context of 'Selling and Marketing', what is a strategy for saving costs mentioned in the text?

What aspect of 'Productivity' involves a mixture of ingredients to satisfy customers?

Which of the following is NOT a consideration when measuring an airline company's performance?

When should an organization go for benchmarking according to the text?

What is the main purpose of internal benchmarking?

What is the significance of 'Zero Defect Level' in benchmarking?

Why is it crucial for an organization to match its distribution channel with other organizations in benchmarking?

In benchmarking, what is the main consideration when evaluating the technology used by other companies?

How does benchmarking contribute to sales forecasting improvement in organizations?

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