Which of the Following Statements About Benchmarking Is True

question 90

Multiple Choice

Which of the following statements about benchmarking is true?

• A)It represents a strategy used to enter a new market.
• B)It involves the creation of innovative products.
• C)It increases delivery lead times.
• D)It improves customer order-processing activities.

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Definitions:

High-growth Market

A market that is experiencing significantly higher rates of growth compared to others, often attracting a large amount of investment.

Low Market Share

A situation where a company or product holds a smaller percentage of the total sales within its industry compared to competitors.

Boston Consulting Group Portfolio Analysis

A strategic business tool used for analyzing a firm's business units or product lines based on their market growth rate and relative market share.

Athletic Footwear Market

The sector of the retail industry that focuses on shoes designed specifically for sports and physical activities.