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

Quizplus · Accepted Answer

Mass customization allows for the production of a large variety of products without incurring a large cost penalty. This is because the products are still being produced in large quantities but are customized to meet individual customer needs. The other choices are not relevant to this concept.

Production of a Large Product Variety Without a Large Cost