Final answer:
Tje correct answer is option d. Mass customization is the method by which a company leverages flexible manufacturing technology to produce low-cost, tailored products, differentiating from economies of scale by offering individual customization at comparable costs.
Step-by-step explanation:
When a company uses flexible manufacturing technology to develop a low-cost, customized product, it is engaging in the process of mass customization. Mass customization is a strategy that combines the low unit costs of mass production with the flexibility of individual customization. Unlike economies of scale, which emphasize producing a high volume of identical products more cheaply, flexible manufacturing allows for a diverse array of products to be made without significant increases in production cost.
This approach contrasts with a greenfield venture, which is the establishment of new operations in a foreign market; an acquisition, which involves purchasing another company; and economies of scale, where cost per unit decreases as production volume increases but without the element of customization.