With the Mass Customization Approach, a Firm

question 148

Multiple Choice

With the mass customization approach, a firm

• A) tailors the principles of mass production to meet the unique needs of individual customers in its target market
• B) tries to justify high prices by customizing its offering for everyone in a mass market
• C) gives up segmenting to go after the mass market
• D) all of the above
• E) none of the above

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Definitions:

Single-Factor Research

An experimental design where the effect of a single independent variable on a dependent variable is assessed.

Independent Variable

A variable that is manipulated or categorized to observe its effect on a dependent variable in experimental research.

Interaction Effect

In statistics, a circumstance where the effect of one independent variable on a dependent variable is different at different levels of another independent variable.

Main Effect

The immediate effect that an independent variable has on a dependent variable within an experimental framework.