Price Bundling

Combining several products or services into a single comprehensive package for an all-inclusive reduced price. Despite the fact that the items are sold for discounted prices, it can increase profits because it promotes the purchase of more than one item.

Deeper Insights

For example, mobile phone retailers frequently bundle the prices of several products and services together for their new customers. They offer the phone itself with a package that also includes the 2-year phone plan, internet access, and phone charger. This bundle benefits the customer because it provides them with all the tools they need for their phone all at once and it benefits the mobile phone retailer because they are selling the customer supplementary products and services other than just a phone.

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Related Keywords: Pricing Strategy, Revenue Optimization, Product Bundling, Price Bundling, Pricing, Optional Product Pricing