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What Is the Difference Between Personalization and Customization

question 84

Essay

What is the difference between personalization and customization.Provide an example of each.


Definitions:

Insurance Premium

The amount of money that an individual or business must pay for an insurance policy.

Financial Risk

The possibility of losing money on an investment or business venture.

Risk-Averse

A characteristic describing individuals or entities that prefer to avoid risks and favor more certain outcomes.

Marginal Utility

The additional satisfaction or utility that a consumer derives from consuming one more unit of a good or service.

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