product benchmarking

Product benchmarking is the process of comparing a company's product to competitors' products to assess its strengths and weaknesses. It involves analyzing features, quality, performance, and customer feedback to identify areas for improvement. By understanding how a product stands against others in the market, businesses can make informed decisions to enhance their offerings, increase customer satisfaction, and stay competitive. Essentially, it's like taking a detailed look at what others are doing well and using that insight to make your own product better.