What Is the Ability of an Organization to Tailor Its

question 251

Multiple Choice

What is the ability of an organization to tailor its products or services to the customers' specifications?

• A)personalization
• B)long tail
• C)mass customization
• D)information reach

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Definitions:

Utility Function

An economic model that represents how different combinations of products or services can generate various levels of happiness or utility to a person, guiding choices.

Consumption

Consumption represents the use of goods and services by households, which is a primary component in calculating a nation's gross domestic product.

Lottery

A form of gambling that involves the drawing of numbers at random for a prize, often conducted by states or organizations.

Interest Rate

The percentage of a sum of money charged for its use, typically expressed as an annual percentage rate.