Achieving Successful Make-To-Order Product Designs Requires That Companies Use Technologies

question 70

Multiple Choice

Achieving successful make-to-order product designs requires that companies use technologies such as ______.

• A)computer-aided design (CAD)
• B)process mapping
• C)Pareto analysis
• D)interchangeable parts

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Definitions:

Standardized Product

Goods or services that are uniform in quality and performance, allowing them to be interchangeable among consumers.

Market Share

The segment of a market dominated by a specific company or product.

Perfect Competition

A market structure characterized by a large number of small firms, a homogeneous product, free entry and exit, and perfect information, leading to price takers.

Price Taker

A market participant that accepts the prevailing prices in the market, unable to influence prices through their own actions.