What is the term for the ability to offer individually tailored products or services using the same production resources as bulk production?

The term that refers to the ability to offer individually tailored products or services while utilizing the same production resources as bulk production is mass customization. This concept combines the efficiency of mass production with the flexibility of customized products, allowing businesses to cater to individual customer preferences without significantly increasing costs or complexity.

In mass customization, technology plays a crucial role—often incorporating tools such as advanced manufacturing techniques, software, and customer feedback systems. This strategy helps companies meet varying customer demands while maintaining the economies of scale associated with traditional bulk production. Thus, businesses can provide unique products tailored to specific customer needs, leading to enhanced customer satisfaction and potentially increased loyalty.

The other options do not accurately represent this concept as they either relate to different aspects of production or do not exist as commonly recognized terms in the context of manufacturing and customization.