Explain the Utilitarianism Principle. How Is It Deficient

question 238

Essay

Explain the utilitarianism principle. How is it deficient?

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Definitions:

Mass Customization

A production technique that allows for personalization or tailoring of products to individual customers' preferences while maintaining the efficiency of mass production.

80/20 Principle

Also known as the Pareto Principle, it suggests that 80% of effects come from 20% of causes, commonly applied in business and productivity analysis.

Psychographic Characteristics

Attributes of consumers that relate to their personalities, values, attitudes, interests, and lifestyles.

Demographic Segmentation

The division of a market into segments based on variables such as age, gender, income, education, and family size to tailor marketing strategies.