In the old economy focus was only on standardization

In the old economy focus was only on standardization -...

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In the old economy focus was only on standardization, mass production and singular marketing policy. However, with the amount of information available in the new economy, companies are best at understanding consumers . This better understanding has led to customized products, a shift from standardization. However, this customization has its drawbacks not only for companies but also for
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Unformatted text preview: customer. Companies find it difficult to maintain the cost level for customized products to register profit. Customization is impossible for products, which require complex industrial engineering. Customer does not know real product appearance until it fully completed and also return policy is not there in customization....
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