We run baseline test to set a standard for an application to compare the future results... It help us to decide either the application has improved or become worst than the previous execution.. Benchmarking is an industry standard. We often consider baseline test as benchmark.
Baseline and benchmark testing is often used when we don't have agreed SLA values and as Ravi mentioned baseline is a test executed on an old code and benchmark is a test executed on a new code and these results are compared. If the new code results are good then we benchmark those.
Baseline test:when we dont have SLA's, to get the average response times we conduct baseline test with single user single script....Benchmark testing:It will give a repetable set of quantifible results which are from current and future releases which can be comparable with baseline response times
We do baseline the value by comparing the multiple values iterated for the application and we can benchmark the value by comparing our value with industry standard value .
