What is bundle pricing? Give three examples, each one from a different industry.
What will be an ideal response?
Bundle pricing is the packaging together of two or more products, usually of a complementary nature, to be sold for a single price. To be attractive to customers, the single price usually is considerably less than the sum of the prices of the individual products. Being able to buy the bundled combination in a single transaction may be of value to the customer, increasing convenience and a sense of value. Bundle pricing is used commonly for banking and travel services, computers, and automobiles with option packages. Bundle pricing can help to increase customer satisfaction. It can also help firms to sell slow-moving inventory and increase revenues by bundling it with products with a higher turnover.Examples: (1) an airline company offers low-cost accommodations when tickets are reserved to a particular place; (2) a fast-food chain offers soda and a burger for a lower price than if the two had been purchased separately; (3) a computer retailer offers accessories for a lower price when combined with the purchase of a laptop.?
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