Mass Customization: The Impact Of Mass Customization In Business

Introduction:

The marketing and business strategies are now being redefined by mass customization. Highly customized products are offered in a wide range of categories. It includes eyeglasses, sneakers, cars, greeting cards, etc. Some companies even have customized price determination, that is, the customer is made to specify his price and then they locate providers

Who are ready to sell at the required price. Companies like Dell establish custom websites for their business customers. These are all examples of customerization, a redesign of marketing from customers perspective. Hart (1996) defines mass customization as “using flexible structures to produce varied and often individually customized products and services at the price of standardized mass-produced alternatives.”

Study:

Sellers in all fields from shoes to n consumer packaged goods are aware of the value of letting customers create their own unique products. Retailers use Big Data to present a personalized set of products to their customer it has been a driving force behind Amazon’s success. Brands are now making personalization forward into mass customization. They have discovered that they can increase customer loyalty and engagement and thus use their customer base as an

The survey shows that those customers who had been given the opportunity to customize a product online engaged more actively with the company. They visited the company’s website more often, stayed longer on the page and exhibited more loyalty to the brand (see Figure 1). In footwear, the research indicates that customers who designed their own shoes gave companies a 50% higher Net Promoter Score, which is a standard way of measuring customer loyalty, than customers who purchased regular products. Higher NPS refers to higher sales, referrals and lifetime customer