Question

What are the main purposes of metrics during Step 5? (Select all that apply.)

a) To consider how best to position the firm
b) To explain why things happened
c) To understand the needs of a market segment
d) To predict what will happen

Answer 1

Metrics during Step 5 serve to explain, understand, and predict various aspects of a firm's performance and market segment needs.

Step-by-step explanation:

Metrics serve several purposes during Step 5:

1. To explain why things happened: Metrics can help identify the factors that led to certain outcomes, providing insights into the performance of the firm and its strategies.
2. To understand the needs of a market segment: Metrics can help analyze customer data and behavior, leading to a better understanding of a specific market segment's preferences and needs.
3. To predict what will happen: Metrics can be used to forecast future trends and outcomes based on historical data and patterns.