Which of the Following Statements About Mass Customization Is True

question 119

Multiple Choice

Which of the following statements about mass customization is true?

• A) Mass customization means that a firm is targeting the mass market but that it tries to customize the design of a product so it is different from what a competitor offers.
• B) Mass customization requires a firm to give up segmentation thinking to pursue larger, more heterogeneous markets.
• C) The mass-customization approach applies only to services, and they often must be custom produced anyway.
• D) ChemStation's industrial detergents, which a business customer can order to fit any special cleaning need, is a good example of mass customization.
• E) None of these is true.

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Definitions:

Stock Price

The amount of money it would cost to purchase one share of a company; determined by supply and demand in the market.

Strike Price

The predetermined price at which the holder of an option can buy or sell the underlying asset.

Call Option

A financial contract giving the buyer the right, but not the obligation, to purchase a stock, bond, commodity, or other asset at a specified price within a specific time frame.

Market Price

The current price at which a good or service can be bought or sold in the open market.