If we tailor something or customize it according to the preferences or instructions of the customer, it is a bespoke item. We have made it specially for a particular individual, company, or organization. The term custom madehas the same meaning. Bespoke is part of the umbrella termcustomization.
Bespoke vs. off the rack
A bespoke provider makes something from scratch according to the specifications and preferences of the customer. It is the opposite of off the rack or off the peg. A bespoke item of clothing, for example, is more expensive than something you see in a shop and buy, i.e., an item that is off the rack. In North America, the term ‘off the rack’ is more common, while Britons, Irish people, and Australians commonly use ‘off the peg.’
We also refer to this type of medicine as theranostics, precision medicine, P4, stratified medicine, or personalized medicine. In this medical model, healthcare professionals separate patients into specific groups.
Medical interventions, practices, and decision are tailored to each individual based on his or her risk of disease or the type of response we expect. We also use the term when talking about medical devices that we create for specific patients or patient groups.
When an account manager develops a spread of investments according to the needs and desires of a client, we call it a bespoke portfolio.
When you ask somebody or a firm to develop a portfolio for you, they will ask you several questions regarding your finances and whether you are risk averse or a risk neutral. If you are risk averse, it means that you prefer safe investments, i.e., you don’t like taking risks. Risk neutral investors, on the other hand, don’t mind some risk if there is a chance of a good return.
Bespoke software
When a company develops software specifically for a company or organization, we call it bespoke, tailor made, or custom software. It contrasts with COTS (commercial off-the-shelf) programs.
If you want a software house to develop a program specifically for the needs of your company, you must be willing to pay significantly more than you would for a COTS option.
Three types of application:
Customization means altering COTS applications.
Modernization is all about updating and maintaining programs.
Management may include installation, carrying out updates and optimizations, general maintenance, and customer service.
Etymology of bespoke
We refer to the origin of a word or phrase as its etymology. Etymology also includes finding out how a word’s meaning has evolved over time.
According to the Online Etymology Dictionary, the adjective Bespoke with the meaning “made to order” or “custom made” emerged in the English language in 1755.
Records also exist of the past-participle adjective from Bespeak circa 1600. At the time, it meant “arrange beforehand” or “speak for.” The word Bespeak appeared in the 1580s.
