Archive for July, 2009
The More, the Merrier!
Sometimes, we avail of products or services which do not seem to be complete when taken on their own. As such, we have to purchase other products or services to enhance the experience of using the first one purchased. Wouldn’t it have been so much easier to get everything we need all at once?
This is the concept behind product bundling, which is a strategy in which one or more additional products is added to the original. Examples of these range from office software bundles to various fast food meal combinations. Bundling thus gives the consumer the benefit of having a complete product experience, and the seller the advantage of getting the other products in his roster to move.
If you have your own business, try taking a look at the products you have and observe how they move. Are certain items usually bought together with other specific items? Perhaps, you could consider coming up with your own bundling strategy. You just might be able to come up with the perfect combination your clients are looking for.