product-bundling

Vocabulary Word

Definition

'Product bundling' is a marketing strategy where a seller combines several products or services and offers them together as a single combined unit. Often, this is done to sell more and provide value to customers. Like when you purchase a smartphone, and it comes with a case and screen protector in a bundle deal.

Examples in Different Contexts

In marketing strategy, 'product bundling' involves offering several products or services together as a single combined package, often at a discounted rate. A marketing director might discuss, 'Product bundling has proven to increase our sales volume by appealing to customers looking for value in comprehensive packages.'

Practice Scenarios

Marketing

Scenario:

As part of our next marketing campaign, I'd like us to leverage our most popular products more creatively. Have we considered bundling options?

Response:

Bundling products in a cost-effective package could certainly add value for our customers and boost product visibility.

Business

Scenario:

We've noticed an inventory surplus of our health and fitness book series. Perhaps it's time we packaged them together for a special offer?

Response:

That's an excellent idea. We should conduct a customer survey to find popular book pairings for our product bundling strategy.