In the context of business, mass customization provides companies with the ability to meet which two goals?

• A. Standardizing products and minimizing customer involvement
• B. Offering personalized products while maintaining low production costs
• C. Increasing production time and limiting customer choices
• D. Maximizing inventory levels and reducing product variety

Answer: (B)

Verified step by step guidance

1. This question is conceptual and relates to business strategy rather than Business Calculus. However, I can guide you in understanding the context of the problem.
2. Mass customization is a business strategy that combines the efficiency of mass production with the flexibility of customization. It allows companies to produce goods tailored to individual customer preferences while keeping costs low.
3. The two goals of mass customization are: (1) Offering personalized products to meet individual customer needs, and (2) Maintaining low production costs by leveraging standardized processes and technologies.
4. Incorrect options can be eliminated by understanding that mass customization does not aim to standardize products entirely, increase production time, or limit customer choices. Instead, it focuses on balancing personalization with efficiency.
5. The correct answer is: Offering personalized products while maintaining low production costs. This aligns with the principles of mass customization in business.