A firm's comparing its performance to competitors based on the components of the strategic profit model illustrates _____.
A)SERVQUAL
B)benchmarking
C)opportunity cost analysis
D)gap analysis

Question

Quizplus · Accepted Answer

Benchmarking is the process of comparing a firm's performance to that of its competitors in terms of key performance indicators. Comparing the components of the strategic profit model, which includes factors such as revenues, costs, and capital utilization, is a common method of benchmarking. SERVQUAL is a customer service quality assessment tool, opportunity cost analysis is a decision-making approach that involves evaluating the alternatives forgone by choosing one option over another, and gap analysis is a method of identifying differences between current and desired performance levels. None of these options accurately describe the scenario presented in the question.

A Firm's Comparing Its Performance to Competitors Based on the Components