Explain the Advantage of Using Marketing Performance Metrics,and Name and Describe

question 40

Essay

Explain the advantage of using marketing performance metrics,and name and describe the four classes of marketing performance metrics.Give two examples of metrics used in each type of marketing performance metric.

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Definitions:

Negotiated

The process of discussing terms in order to reach a mutual agreement, often used in the context of contracts, salaries, and business deals.

Fixed Amount

A specified sum that does not vary or change under specified conditions.

Principal

A main party to a transaction, such as the owner of a business or the party who has authorized an agent to act on their behalf.

Interest

The cost of borrowing money, typically expressed as a percentage of the principal, paid by the borrower to the lender for the use of their money.