What is a benchmark and where to look for it?

Benchmark is the process of comparing a product, service, or process with the best counterparts on the market or with established standards to identify strengths and weaknesses. In the context of product management, it helps understand how your product compares to competitors.

Where to look:

• Competitor analysis: studying their functionality, prices, user reviews.
• Reports and market research from analytical companies (e.g., Gartner, Forrester).
• Public data and ratings.
• Specialized platforms for product comparison.

Benchmark helps identify areas for improvement and strategic development of the product.