It's not really called that, but I can't think of any other term. This time, the numbers are used to establish the instrument approach. Most precision approachs go visual at 260 ft. AGL or more. We learn that certain power settings will give certain rates of descent, and these are applied at different stages of an instrument approach.
Power is generally constant, and rate of descent is controlled by pitch.
This works because the speeds are significantly above stall. It's a stage of flight which leads to a landing. The go-around or balked landing should be part of every landing. If things go pear shaped, the pilot should be ready to execute a go-around. The mistake pilots make is not thinking ahead on this.