According to the text MKTG 3rd edition, "Mass Customization is a production method whereby products are not made until an order is placed by the customer; products are made according to customer specifications."
The company that came to mind the first time I read and heard about this concept was Dell Computers. They're a market leader in this type of production. After a customer places an order, the product, in this case a computer, is built as the customer specified. This reduces the amount of unwanted whole products in Dell's inventory.
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