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RE: Commodity Bundling (Video Version)

in Threespeak - OLD4 years ago

@spectrumecons, In my opinion this can be divided into two aspects and those are Wants and Needs. Some people don't have any idea what product they will going to buy and that falls into Want and sometimes these kind of Customers buy products whose cost is high. But Needs can be more Economical where Customers are very clear which product they want to consume.

Keep up the great work and stay blessed.

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Impulse buys are most likely to be wants and people buy on the spot without further research. If something is a need, people generally know how to get hold of it and therefore less likely to overspend. In regards to commodity bundling, the temptation is the lower marginal cost of buying something that would not be normally bought. Imagine a meal comes with a burger, fries, drink and ice-cream. A person may only normally buy the burger, fries and drink but the meal with the ice-cream may only cost an extra 20c. The low price of the ice-cream may tempt that person to get the meal with the ice-cream and pay an extra 20c for something they did not intend to buy in the first place.

Thank you so much for putting more light on this subject. Keep spreading the Knowledge and keep growing. Stay blessed.