Asked by Shelia Marcano on Jul 08, 2024

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Businesses use metrics in order to

A) lower production costs.
B) eliminate inventory costs.
C) evaluate a strategy and quantify a trend.
D) recognize a market and develop a new product.
E) implement personal selling strategies.

Metrics

Metrics are quantifiable measures used to track and assess the status of a specific process.

Evaluate a Strategy

The process of systematically assessing the efficiency and effectiveness of a plan or method to achieve business objectives.

Production Costs

Expenses incurred in the process of manufacturing goods, including raw materials, labor, and overhead.

  • Appreciate the significance of evaluating marketing performance using metrics.
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TQ
Thomas QuacoJul 10, 2024
Final Answer :
C
Explanation :
Metrics are used to evaluate the effectiveness of a strategy and quantify trends. They can help businesses make data-driven decisions and identify areas for improvement. While metrics may indirectly contribute to lowering production costs or eliminating inventory costs, these are not the primary purposes of using metrics. Similarly, metrics may be used in developing new products or implementing personal selling strategies, but these are not the main reasons why businesses use metrics.