Influence people

Saturday, October 27, 2012

How to Make a Bundle

New research from Harvard Business School and Carnegie Mellon University shows that bundling products can increase purchases significantly if customers have the option to buy the products separately.

Studying sales of video consoles and games, the authors of The Dynamic Effects of Bundling as a Product Strategy found that bundling in fact increases product purchases.

However, if customers cannot compare the prices of the products when sold individually to the prices of the same products when bundled, many will undervalue the bundled products and postpone their purchases. 

That's because they assume the products must drop in price eventually, so savings will be theirs by waiting.

So if you want to drive sales of bundled products, be sure to also price and offer the products individually.

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