When Consumers Share a Strong Need That Cannot Be Satisfied

question 110

True/False

When consumers share a strong need that cannot be satisfied by an existing product they are engaged in latent demand.

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Definitions:

Mass Customization

A manufacturing approach that combines the flexibility and personalization of custom-made products with the low unit costs of mass production.

Employee Relationship

The interaction and communication between an employer and its employees, which can significantly impact job satisfaction, productivity, and retention.

HR Practice

Encompasses the policies, procedures, and activities implemented by an organization to manage its human resources effectively.

External Human Resource Sources

External methods or channels through which organizations recruit or hire new employees, such as job boards or recruitment agencies.