Customers Are No Longer Satisfied with Simply Having a Product

question 20

Multiple Choice

Customers are no longer satisfied with simply having a product: they want it to precisely meet their needs and preferences.____________ requires working with existing product technology, often in modular form, to create specific product bundles for a particular customer.

• A)Mass customisation
• B)Economies of scale
• C)Mass standardisation
• D)Mass variations

---

Definitions:

Chattel Paper

A writing that indicates both a monetary obligation and a security interest in specific goods.

Monetary Obligation

A legal requirement to pay a certain amount of money, arising from contractual agreements, fines, or other legal instruments.

Security Interest

A legal claim or right granted over assets as security for the repayment of a debt or performance of some obligation.

Personal Property

Any form of property that is movable and not fixed permanently to one location, as opposed to real property or real estate.