Production of a Large Product Variety Without a Large Cost

question 63

Multiple Choice

Production of a large product variety without a large cost penalty is known as:

• A) market concentration.
• B) market segmentation.
• C) focused differentiation.
• D) mass production.
• E) mass customization.

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Definitions:

Machiavellianism

A personality trait characterized by a manipulative, deceitful, and exploitative approach to interpersonal relationships and strategies.

Behaviors

The actions or reactions of an individual or group in response to external or internal stimuli.

Culturally Aware

Having an understanding of and sensitivity to the values, practices, and customs of different cultures.

Multicultural Teams

Work groups composed of members with diverse cultural, racial, and ethnic backgrounds.