8/12/2019 Benchmarking Marketing Club

1/16

BENCHMARKINGFORBESTPRACTICES

8/12/2019 Benchmarking Marketing Club

2/16

WHATISBENCHMARKING

Method for identifyingand importingbest practices to improveperformance

Process of learning, adapting, and measuringoutstanding

practices and processes from any organization to improve

performance

8/12/2019 Benchmarking Marketing Club

3/16

WHYBENCHMARK Identify opportunities to improve performance

Learn from others experiences

Set realistic but ambitious targets

Uncover strengths in ones own organization

Better prioritize and allocate resources

8/12/2019 Benchmarking Marketing Club

4/16

TYPESOFBENCHMARKING

8/12/2019 Benchmarking Marketing Club

5/16

STRATEGICBENCHMARKING:

o Involves examining long-term strategies

o Used by successful high performers

PERFORMANCEBENCHMARKING

o Performance characteristics

o Done by 3rd party to protect confidentiality

Cont..

Key Products

Key Services

8/12/2019 Benchmarking Marketing Club

6/16

PROCESSBENCHMARKING

Improving critical processes and operations

Results in short term benefits.

FUNCTIONALBENCHMARKING

Benchmarking on a single function

Leads to dramatic improvements.

Cont..

8/12/2019 Benchmarking Marketing Club

7/16

GENERICBENCHMARKING

Comparison of similar business processes or functions regardless of

industry.

INTERNALBENCHMARKING

Analyzing operations within the same organization Access to sensitive and standardized data is easier,

Real innovation may be lacking.

EXTERNALBENCHMARKING

Analyses best in class outside organizations.

Significant time and resource involved credibility of thefindings.

8/12/2019 Benchmarking Marketing Club

8/16

BENCHMARKINGPROCESS

Planning

Collecting

Data

Analysis

Improving

Practices

8/12/2019 Benchmarking Marketing Club

9/16

1.PLANNING

Determine the purpose and scope of the project

Select the kind of benchmark

Choose the team

Define the scope

Develop a flow chart for the process

Establish process measures

Identify benchmarking partners

8/12/2019 Benchmarking Marketing Club

10/16

2. COLLECTINGDATA

Conduct background research

Use questionnaires to gather information

Conduct site visits & interviews for additional inf.

8/12/2019 Benchmarking Marketing Club

11/16

3. ANALYSIS Collect collected to analyze scope of improvement

Compare existing process with that of appropriate reference

models.

Agree on expected targets for improvement.

8/12/2019 Benchmarking Marketing Club

12/16

4. ASPECTSOF MPROVEMENT

Pursuit of excellence is the underlying

and ever present goal of benchmarking practices.

Strong strategic focus and flexibilityin

achieving goals set forth by management.

Adequate planning, training, and open

inter=departmentalcommunication.

8/12/2019 Benchmarking Marketing Club

13/16

IMPROVING PRACTICES

Medical record audit and feedback

Opinion leader

Academic detailing

Chart-based reminders

Computerized decision support evaluation

8/12/2019 Benchmarking Marketing Club

14/16

WHENNOTTOBENCHMARK

Target is not critical to the core business functions

Customers requirement is not clear

Key stakeholders are not involved

Inadequate resources to carry through

No plan for implementing findings

Fear of sharing information with other organizations

8/12/2019 Benchmarking Marketing Club

15/16

WHATARETHESIDEEFFECTSTO

SUCCESSFULBENCHMARKING?

o Inadequacies must be clearly recognised and understood before

continuing the exercise.

o Don't try and benchmark too many things to begin with

o Don't waste time benchmarking things that are just "nice to know

o Be precise in defining what is to be measured.

o Test the benchmarks internally before consulting with outside companies.o Organisation's priorities change with time, and so benchmarks should

be regularly reviewed

8/12/2019 Benchmarking Marketing Club

16/16

THANK YOU

Questions

Suggestions

Ideas