Production of a large product variety without a large cost penalty is known as:
A)market concentration.
B)market segmentation.
C)focused differentiation.
D)mass production.
E)mass customization.

Question

Production of a large product variety without a large cost penalty is known as:
A)market concentration.
B)market segmentation.
C)focused differentiation.
D)mass production. 
E)mass customization.

Quizplus · Accepted Answer

Mass customization refers to the production of a large variety of products without incurring a large cost penalty. This is achieved by combining the benefits of customization with the efficiencies of mass production. Mass customization allows customers to personalize their products while enabling companies to capture economies of scale.

Production of a Large Product Variety Without a Large Cost