Which of the Following Statements About Mass Customization Is True

question 27

Multiple Choice

Which of the following statements about mass customization is True?

• A) There has been a widespread shift to mass customization by thousands of companies.
• B) The biggest successes in mass customization have all been in consumer markets as opposed to business markets.
• C) If a company is to succeed with a mass customization strategy, it must be able to find a low-cost way to produce the products.
• D) All of the above.
• E) None of the above.

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Definitions:

Price Elasticity

A measure in economics to show how the quantity demanded of a good or service responds to a change in its price.

Marginal Cost

The additional expenditure required to produce one more unit of a product or service.

Profit-Maximizing

The strategy or practice of adjusting production and distribution to achieve the highest possible profit from operations.

Marginal Revenue Function

A calculation that shows how much extra revenue a firm will receive from selling one more unit of a product or service.