Business Terms

Question 1

In Situ

Answer 1

When users are present when the goods are being made, in the place they are being made. (Think of the windows that let you see your pizza being made at a restaurant)

Question 2

Product Distribution

Answer 2

The manner in which goods and services are transported, stored and delivered to the user.

Question 3

Corporate Social Responsibility

Answer 3

A designer or company’s sense of responsibility toward the community and environment.

Question 4

Mass Customization

Answer 4

Designing using flexible manufacturing systems to produce custom items, giving the advantage of lower costs of mass production with the ability to individualize the products.

Question 5

Bespoke

Answer 5

Custom made for one individual client.

Question 6

Experience Economy

Answer 6

An economy in which many goods or services are sold by emphasizing the effect the product can have on people’s lives.

Question 7

Consumer Buying Behavior

Answer 7

The decisions, and basis for the decisions made by end users in choosing products or services.

Question 8

Ethical Consumerism

Answer 8

The choices of what to buy and where to buy it on the basis of morals and ethics.

Question 9

Trend Forecasting

Answer 9

Predicting consumers’ attitudes, needs, wants, spending patterns and economic factors.

Question 10

Intellectual Property

Answer 10

The ownership of ideas. An idea or design can be owned and protected from copying using patents, brand names or trademarks.