Which of the Following Is Not One of the Purposes

question 86

Multiple Choice

Which of the following is not one of the purposes of benchmarking?

• A) learning from success
• B) national leadership
• C) stealing ideas
• D) beating industry standards
• E) best-in-world

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Definitions:

Market Development

A growth strategy in which a company seeks to expand its existing product into new markets or geographic areas to increase its customer base.

Market Penetration

A gauge of the level of sales or acceptance of a product or service in relation to the complete potential marketplace for it.

Diversification

The strategy of adding varied products, services, or markets to a company's portfolio to spread and reduce risks.

Diversification Analysis

A strategic approach used by businesses to expand their operations by entering into new markets or developing new products, often to mitigate risks associated with over-reliance on a single revenue stream.