Definition of Mass Customization
Offering products that are individualized to a large number of customers at a comparatively low price. Custom made products lower a company’s cost as well increases a company’s profits and customer’s loyalty, as they get a custom-made product.
Example of Mass Customization:
Rolls Royce is one of the world’s top manufacturers of luxury cars. The company offers ultra-luxury cars to its customers, these cars can be customized to a great extent based on the customer’s needs and demands, making Rolls Royce a classic example of mass customization.