RMG 101 Lecture Notes - Lecture 8: Mass Customization, Voice Of The Customer, Design Thinking
9 Jun 2016
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Document Summary
It is more efficient to sell more of the same thing; stores that sell few items to many people are efficient and get" their customers. The reason why they do well is due to economies of scale; as more is sold, the cost structure decreases since more production of one item is increased. Mass production concept i. e. assembly lines created by ford; 1 car created per minute. Any customer can have a car painted any colour that he wants so long as it is black. (forced conformity) Consumers" needs better satisfaction component with more variety line extensions impact efficiency by decreasing it but addresses consumers" needs companies react to consumer and competitors" pressure customization meets consumer needs and is driven by marketing wheel. Changing customer needs customers are never satisfied, never happy; constant changing wants and needs forced conformity going out of style as consumers know they can get whatever they want.
