Mass Customization Is an Important Production Method to Marketers Because

question 203

Multiple Choice

Mass customization is an important production method to marketers because

• A) it promotes loyal customers.
• B) it allows marketers to provide products that satisfy specific needs of consumers.
• C) it speeds the production cycle, providing time utility to customers.
• D) its focus on delivering quality products leads to customer satisfaction.
• E) it ensures profitability.

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Definitions:

Budget Preparation

The process of creating a financial plan to forecast revenues and expenditures for a future period, facilitating financial management and planning.

Financing Activities

Transactions and business events that affect long-term liabilities and equity of a company, included in the cash flow statement section.

Capital Expenditures Budget

A budget allocation for the planned spending on long-term assets, such as buildings, machinery, and equipment, intending to enhance the capacity or efficiency of the business.

Top-Down Managerial Approach

This approach in management involves decision-making and directive processes originating from the upper echelons of the organization hierarchy and flowing downward.