Examlex
Subtract and reduce:
Economies of Scale
The reduction in per-unit cost achieved by an increase in production volume, allowing businesses to spread fixed costs over more units.
Mass Customization
A strategy that allows consumers to personalize specific aspects of a product while still producing it in large volumes, combining the benefits of mass production with individual customization.
Online Shopping
The act of purchasing products or services over the Internet, allowing consumers to buy goods from the comfort of their own homes.
Value Cocreation
A business strategy that emphasizes the collaboration between companies and customers to produce mutual value.
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