Which pricing strategy involves selling several products together for a lower price than if sold individually?

The correct answer is bundle pricing, which refers to the practice of offering multiple products or services together as a package at a combined lower price compared to purchasing each item separately. This strategy is effective for encouraging customers to buy more items at once, increasing the perceived value and providing savings that can entice customers to choose the bundle over individual purchases.

Bundle pricing effectively takes advantage of consumers’ desire for perceived deals and can help companies move more inventory. It’s also beneficial for businesses during promotions or clearance sales to encourage the sale of underperforming products alongside more popular items.

In contrast, economy pricing focuses on offering products at low prices by minimizing marketing and production costs, rather than combining items to create a perceived discount. Price skimming involves setting high prices initially and then lowering them over time to maximize profits from different consumer segments, while market penetration pricing is a strategy designed to enter a market with low prices to attract customers quickly and gain market share. While these other strategies have their own advantages, they do not involve the concept of bundling multiple products into one package for a reduced total price.