_____ Involves Pricing a Product Based on What Customers Are

question 85

Short Answer

_____ involves pricing a product based on what customers are willing to pay for it and then creating the offering based on that price.

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Definitions:

6-Sigma Standards

A set of techniques and tools for process improvement that aims to reduce defects and variability in manufacturing and business processes.

Tolerance-Check Process

A procedure for verifying that production output or operations are within acceptable deviations or tolerances from a specified standard or target.

Automated Tolerance-Check

An Automated Tolerance-Check is a digital process for verifying if an object, component, or system falls within specified limits or tolerances.

Preventative Maintenance

Maintenance activities performed regularly on equipment before faults occur, aimed at preventing breakdowns and ensuring efficient operation.