Definition of Bundling
What is the definition of the term "bundling"? What does the term "bundling" mean?
"Bundling" is when a company offers more than one product or service for just one price.
For instance - let's say that you have your car insurance at XYZ, Inc. You pay $2,000 per year for your car insurance.
XYZ, Inc. wants your home insurance as well. You are currently paying $1,000 per year for your home insurance at a different company - XYZ, Inc. says that if you buy both your car AND house insurance through them, they will change you just $2,750 per year.
So, instead of dealing with two companies, you will have just one easy monthly payment. On top of that, you will also be saving money every month as the combined house and car insurance through XYZ, Inc. is less money than what you were paying before.
Banks and insurance companies are two examples of companies that frequently offer "bundling" to their customers.
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