Riveras, a chain of discount stores, utilized the best retailing strategies of another successful retail chain to create a market for itself. By Learning from the retail chain, Riveras has used ___.
A) qualitative forecasting
B) quantitative forecasting
C) scenario planning
D) external benchmarking
E) internal benchmarking

Question

Quizplus · Accepted Answer

External benchmarking is the process of comparing an organization's practices and performance with that of other external organizations, particularly those known to be the best in the industry. In this case, Riveras used the best retailing strategies of another successful retail chain, which is an example of external benchmarking.

Riveras, a Chain of Discount Stores, Utilized the Best Retailing