Broswe Glossary Terms: B

Benchmark:
A benchmark is a standard or guideline used to compare some aspect of a business to some objective or external standard measure. For example, when a banker compares a business' profitability to standard financial ratios for that type of business, the process is sometimes referred to as "benchmarking." Business Plan Pro creates a chart that it calls "Business Benchmarks," which it uses to compare five standard business measures (sales, gross margin, net profits, collection days, and inventory turnover) as they change over time. In this case the benchmark is the business itself, so it compares past results to planned future results.

References:
The Benchmarks chart in Business Plan Pro, for an already-existing company. For a new company, the benchmarks chart shows just three or five years, not past results.

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Accounts payable Accounts receivable Accumulated depreciation Acid test Acquisition costs Advertising opportunity Agent Asset turnover Assets Brand Brand equity Brand extension strategy Brand recognition Break-even analysis Break-even point Broker Bundling Burden rate Business mission CAGR Cannibalization Capital assets Capital expenditure Capital input Cash Channel conflicts Channels of distribution Co-branding Collection days Collection period (days) Commission Commissions Commissions percent Competitive advantage Competitive analysis Concentrated target marketing Contribution Contribution margin Core marketing strategy Cost of goods sold Cost of sales Cross elasticity of demand Current assets Current debt Current liabilities Debt and equity Depreciation Differentiated target marketing Differentiation Direct mail marketing Direct marketing Directory Distinctive Competency Diversification Dividends Dual distribution Early adopters Early majority Earnings EBIT Economies of scale Effective demand Equity Everett Rogers Exclusive distribution Expense Experience curve Fighting brand strategy Fiscal year Fixed cost Fixed costs Focus group Frequency marketing Full-cost price strategies Gross margin Gross margin percent Harvesting Innovators Integrated marketing Intensive distribution Interest expense Inventory Inventory turnover Inventory turns Jobber Labor Laggards Liabilities Life cycle Long term assets Long term interest rate Long term liabilities Loyalty programs Manufacturer’s Agent Market Market development funds Market evolution Market redefinition Market sales potential Market segmentation Market share Market-development strategy Market-penetration strategy Marketing Marketing audit Marketing mix Marketing plan Marketing-cost analysis Materials Mission statement Multiple-channel system Net cash flow Net profit Net profit margin before taxes Net worth New-brand strategy Offering Offering mix or portfolio Operating leverage Operations control Opportunity analysis Opportunity cost Original equipment manufacturer Other ST liabilities Outsourcing Paid-in capital Payback period Payment days Payroll burden Penetration pricing strategy Perceived risk Perceptual map Personal selling Personnel burden Plant and equipment Point of purchase(POP) advertising Positioning Premiums Price elasticity of demand Pro forma income statement Product definition Product development Product development strategy Product life cycle (PLC) Product line Product-line pricing Profit before int and taxes Public relations Pull communication strategy Push communication strategy Receivables turnover Regional Marketing Relevant cost Repositioning Retained earnings Return on assets Return on investment Return on sales Rogers, Everett ROI Sales break-even Sales forecast Sales on credit Scrambled merchandising Selective distribution Short term Short term assets Short term notes Situation analysis Skimming pricing strategy Slotting allowances Starting date Strategic control Strategic marketing management Success requirements Sunk cost SWOT analysis Tactics Target market Target marketing Tax rate percent Taxes incurred Telemarketing Trade margin Trading down Trading up Unit variable cost Units break-even Value Variable Cost Variance Wholesaler Working capital

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