When a Company Interacts One-On-One with Large Numbers of Customers

question 79

Multiple Choice

When a company interacts one-on-one with large numbers of customers to create customer-unique value by designing products and services tailor-made to individual needs,it is following ________.

• A)concentrated marketing
• B)mass marketing
• C)mass customisation
• D)undifferentiated marketing
• E)localisation

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Definitions:

Demand Curve

The demand curve is a graphical representation that displays the relationship between the price of a good or service and the quantity demanded by consumers at varying price levels.

Unitary Elasticity

A situation in which the quantity demanded or supplied of a good changes by the same percentage as the change in price.

Demand Curve

A graphical representation of the relationship between the price of a good or service and the quantity demanded for a given period, typically showing a downward slope.

Elastic Demand

A situation where the demand for a product is sensitive to price changes.