What Significance for Business and our Lives does Customization Possess?
The concept of customization affects businesses and society in a number of ways. Customization, which means retailing based on customer personal tastes, is a very expensive practice on the part of businesses. This is because customization implies more costs in producing unique commodities for each customer. However, the practice seems most appealing to customers as most of them who buy customized commodities can afford. As time goes, consumers have advanced in tastes and preferences generally standardized goods are no longer appealing to some. People today prefer products that are uniquely tailored to for their needs. They no longer want products with general specifications. Instead, consumers want products that have special features that they hold dear. Several companies have implemented the concept of customization. The response has been overwhelming. It is apparent that customization takes into account unique needs of consumers. Customized commodities offer more consumer satisfaction. This signifies that people are more satisfied with customized goods compared to general standardization.
However, customization is only possible for corporations that have very sophisticated technologies. Advanced technologies come at a cost; this means businesses have to invest more money in technologies that can enhance consumer customization. Advanced technologies and state of the art systems necessary for efficient customization will affect people in some ways. To begin with, customization will mean that the final product will be expensive. The customer will shoulder the high overheads that companies will incur to tailor products to specification. The second issue is that the process of customization will result to loss of jobs. Application of sophisticated technologies will force corporations to restructure their operations. This definitely means that some staff must be laid off. Unlike in product standardization, customization requires most of the processes to be handled by systems controllable by few people. It means that human labor will not be necessary in most of the processes involved in customization.
Response to first answer
Even though, consumers desire to buy products that meet their unique demands. The concept of customization proves to be difficult to businesses. Companies fear trading on such uncertain grounds for some. There is the fear that consumers might not meet the high costs involved in the production of customized products. Secondly, customization requires heavy investments in terms of technology, which may ground some operations and result into serious loses.
Response to the second answer
I think very few people can afford to buy customized products majority of the have no capacity to afford tailored products much as they may want to buy them. Furthermore, business mostly target big markets, it would be difficult for businesses to invest such large sums of money to ventures that are not clearly known.
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