Postponement Is a Tactic Used by Mass- Customization Firms to Delay

question 56

True/False

Postponement is a tactic used by mass- customization firms to delay the customization of a product or service until the last possible moment.

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Definitions:

Introductory Stage

The initial phase of a product or service lifecycle, characterized by low sales, high investment costs, and limited market acceptance.

Growth Stage

The growth stage is the phase in a company's life cycle characterized by rapid market acceptance and increasing profits.

Decline Stage

A phase in the product lifecycle or business where sales begin to fall due to market saturation, technological obsolescence, or changing consumer preferences.

Promotion Activities

Marketing efforts designed to increase awareness, interest, and sales of a product or service through various strategies such as advertising, discounts, and events.