The Value of a Bundle
It’s an age-old marketing term: Product Bundling. But what does it mean? Why do companies do it? And how does it provide value to the customer?
The bundle spans all industries.
Whether you’re booking a package deal vacation, ordering a value or combo meal at your favorite restaurant, purchasing a bundled television-internet-phone product, a compilation or box set of music albums, or an anthology of classics from your favorite author, you’re taking advantage of a company’s bundling strategy.
Most often, bundles give companies an opportunity to increase the value of one purchase. But for customers, bundles can help you get what you want for a discount.
There are two types of bundles.
The way a company chooses to bundle its products has a multitude of factors, but ultimately, it comes down to two different types of bundles:
- Pure bundles, which means products are only available as bundles. An example of this is cable television. Most (if not all) cable companies do not allow you to purchase just one channel. Customers tend to react unfavorably to pure bundles - i.e. many customers opting out of cable television subscriptions and opting in to streaming services that give them more options.
- Mixed bundles, which means products are also available for purchase separately. A great example of this is the fast food meal deal: you can buy a burger, fries, and a drink together as a value meal for a cheaper price OR you can buy just the burger, just the fries, or just the drink.
So what’s the big deal with bundling IGS products?
Bundling products with IGS benefits the customer in a few important ways. When you combine your IGS products, you get an extra discount on your IGS fixed electric product.Another benefit is that when you bundle, IGS supplies your natural gas and electricity products and services your home warranty products. So you’re dealing with the same company when it comes to how you power and protect your home.
Bundling your products is easy.