Startup Funding Espresso -- Bundle Pricing
Bundle Pricing Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. Bundle pricing sets the price on a package of services that is lower than if you bought each service individually. This generates more demand for the product since the price is lower. It can increase sales because the product bundle has more features and usability than an individual product. It can also be used to create a higher perceived value at a lower cost. Bundling works with products that are complementary such as a game console and a game. To set a bundle pricing consider the following: Select the main product that customers want and then add complementary products to the bundle.\xa0 Choose complementary products that increase the usability of the main product.\xa0 Set the price of the individual items at a price that encourages the customer to buy the bundle. Know your cost of products and don\u2019t set the price below cost. The downside to bundles is that if the bundle doesn\u2019t achieve higher sales, then it reduces the profit. \xa0 Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. Let\u2019s go startup something today. _______________________________________________________ For more episodes from Investor Connect, please visit the site at: \xa0 Check out our other podcasts here: \xa0 For Investors check out: \xa0 For Startups check out: \xa0 For eGuides check out: \xa0 For upcoming Events, check out \xa0\xa0 For Feedback please contact info@tencapital.group\xa0\xa0\xa0 Please , share, and leave a review. Music courtesy of .