Acceleration in the pace of globalization
of markets, explosion of Internet availability, near-vertical
growth of e-commerce, and an insatiable demand for customization
on part of customers have placed unprecedented pressure on business
strategists to develop new strategic paradigms that satisfy customers
in all aspects of their expectations.
Mass customization, a rapidly becoming strategy of choice for
many companies, is designed to specifically respond to two inherently
contradictory competitive priorities - low price and high-customization.
The cost savings of mass customization are derived from the design
of the links and tactics built into the value chain that focuses
on economies of customer integration. Such tactics include designing
modularity in to the product or service, postponement of final
operations of the custom-configured product until the demand is
known, quick web-based access tot the knowledge base of the customer
needs and preferences, and opportunities for preferred segmentation
of the market.
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