what is product service bundling and what are the benefit to customers?
You can find your answer at this site
http://www.mplans.com/articles/product-bundling/
Product service bundling refers to a marketing strategy where a company combines its products and services together as a package or bundle to offer to customers. Instead of selling products and services separately, companies create bundles that include both, providing customers with a more comprehensive and value-added solution.
The benefits of product service bundling for customers include:
1. Convenience: Customers can find all the necessary products and services they need in one package, saving them time and effort. They don't have to search for different providers or negotiate separate contracts.
2. Cost savings: Bundling products with services often comes with discounted prices or special offers. Customers can enjoy cost savings as the combined package is typically priced lower than purchasing each item individually. This can be especially beneficial for customers who require multiple products or services together.
3. Simplified decision-making: With bundled packages, customers don't have to choose between various product and service options. They can select a bundle that matches their needs and preferences, avoiding the complexity of selecting each component separately.
4. Enhanced value: Bundles often include additional services or value-added features that customers may not have considered or realized they needed. This can increase the overall value proposition and satisfaction customers receive from the bundle.
5. Streamlined support: When customers purchase a bundled package, they often receive a single point of contact for customer support and after-sales assistance. This simplifies the process and ensures a smoother experience when addressing any issues or concerns.
To implement product service bundling, companies typically identify complementary products and services that align with their customer needs and preferences. They then create appealing bundles by pricing them competitively and highlighting the added benefits and convenience customers can gain by choosing the bundle.