Question

The process of comparing own products or services with that of leading renowed firms to improve performance and quality is called

Answer 1

These are the fundamentals of retail inventory strategy, and if you begin with a clear ... It is also known as product assortment width, merchandise breadth,

Answer 2

Answer:

Bench marking is comparing own products or services with leading products of the other best company to improve quality.

Explanation:

Comparison of own products or services with the other best companies is bench-marking. There are four types namely,

Internal bench marking: Business process comparison.

Competitive bench marking: Comparing the products with the rivals (competitors).

Functional bench marking: Comparing with the identical or similar product with same function outside the industry.

Generic bench marking: Pure form of bench marking, that includes comparing unrelated business functions or process to be practiced in similar ways irrespective of industry.