________ Is an Approach to Cost Reduction in Which Components

question 44

Multiple Choice

________ is an approach to cost reduction in which components are studied carefully to determine if they can be redesigned, standardized, or made by less costly methods of production.

• A) Proposal solicitation
• B) General needs description
• C) Order-routine specification
• D) Cost-benefit analysis
• E) Product value analysis

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Definitions:

Customization

The process of modifying a product or service to meet the specific needs or preferences of an individual customer or market segment.

Digital Marketspace

An online environment where goods and services are exchanged through electronic transactions, expanding the reach beyond traditional physical marketplaces.

Online Consumers

Consumers engaging in the purchase of goods or services through the internet.

General Population

A term defining the total number of individuals or entities in a specified area or group, usually used in the context of demographic studies and marketing.