Definition
Marketing measurement is either the act of measuring something, or the data that results from measuring something. A marketing measurement may provide limited value until it is combined with other measurements to form a marketing metric. [1]
A benchmark is a point of reference for measurement (that is, the source against which one compares the area that is being researched). [2] For example, one may benchmark against other companies or other geographical regions. [3]
Benchmarking is a technique or process by which an organization investigates other organizations to determine how they achieve a certain level of performance, then tries to reach or exceed those levels in order to improve its own performance. [3]
References
- Common Language in Marketing Project, 2016.
- American Marketing Association, AMA Dictionary.
- Doyle, Charles, A Dictionary of Marketing (Oxford Quick Reference).