Question

Travis runs a printing business. He gains some knowledge on his competitors quality of printers and extracts ideas about pricing and delivery standards for his own business. This is an example of _____.

Answer 1

Answer:

Benchmarking

Explanation:

Benchmarking is the practice of comparing the business performance and the processes metrics in order to best practices and the industry bests from other companies. It measures the cost, time and quality.

In this case, it is an example of the benchmarking as the Travis who gains knowledge from the competitors regarding the printers quality and the about prices and delivery standards.