Definition of Bundling:
Bundling is when companies package several of their products or services together as a single combined unit, often for a lower price than they would charge customers to buy each item separately. This marketing strategy facilitates the convenient purchase of several products and/or services from one company. The products and services are usually related, but they can also consist of dissimilar items which appeal to one group of customers.
Marketing: Technique of offering two or more complementary goods or services together as a package deal. Bundled items are sold at a price attractively lower than the total of their individual selling prices. Also called price bundling.
The practice of sleeping fully clothed with another person, as a former local custom during courtship.
The selling of different items, typically of hardware or software, together as a package.
Contracting: Practice of consolidating two or more smaller contracts into a single contract where the aggregate value or the size or nature of performance calls for a single award.
Many companies produce and supply multiple products or services. They must decide whether to sell products or services separately at individual prices or in packages of products, or bundles, at a "bundle price." Price bundling plays an increasingly important role in many verticals, such as banking, insurance, software, and automotive. In fact, some organizations devise entire marketing strategies based on bundling.
How to use Bundling in a sentence?
- Offering discounts can stimulate demand, lifting revenues often at the expense of profit margins.
- Companies occasionally use pure bundling strategies, rolling several products or services into one item that can only be purchased as a complete package.
- The products and services are usually related, but they can also consist of dissimilar items which appeal to one group of customers.
- By bundling both premium cable television and high speed internet in a single package, the company was able to maintain high sales in both sectors.
- You may want to try to package a few of your products together as a form of bundling to get greater overall profits.
- I considered setting up individual accounts for Cable, Internet and Phone service but found that I would spend 20% less each month by bundling them all together.
- Bundling is a marketing strategy that consists of companies selling several products or services together as a single combined unit, often for a lower price than they would charge customers to buy each item separately.
Meaning of Bundling & Bundling Definition