Competitor Benchmarking
Competitor benchmarking is a strategy used by organizations to assess their own performance relative to competitors in order to identify areas where they can gain an advantage over them. It involves comparing key metrics such as market share, sales volumes/revenue streams, costs structure, etc., against those of direct rivals in order to spot any discrepancies which could be capitalized upon either through changes within the existing business model or launching additional initiatives targeted at exploiting said difference(s).