What strategy focuses on improving the perception of value for customers with combined products?

Bundle pricing is a strategy that enhances the perceived value for customers by offering a combination of products at a lower price than if they were purchased separately. This approach not only encourages customers to buy more items but also simplifies their purchasing decisions by providing a package deal that meets their needs.

For example, a retailer might offer a bundle of shampoo and conditioner at a reduced rate compared to buying each individually. This creates a sense of savings and increased value for the consumer, which can lead to higher sales volumes and increased customer satisfaction.

This strategy contrasts with dynamic pricing, which adjusts prices based on demand and customer behavior; loss leader pricing, which involves selling products at a loss to attract customers; and penetration pricing, where items are initially offered at a low price to gain market share. Each of these strategies serves different objectives than simply improving the perception of value through bundled offerings.