10 Questions You Should to Know about bundling machine price

Author: Geym

Sep. 30, 2024

5 0 0

10 Questions to Ask When Purchasing Machinery

Many people have heard horror stories about companies purchasing used machinery from an unreliable source and paying dearly for it.

Mastek contains other products and information you need, so please check it out.

In one recent example, a company purchased a machine without having viewed it first. It agreed to pay half the cost up front and the remaining half upon delivery. The customer issued a purchase order, submitted initial payment, and began to arrange the transportation for the machine when it learned that the individual it purchased the machine from had gone out of business and filed for personal bankruptcy.

What&#;s worse, this company discovered that the machine had been sold almost a year before it even expressed interest in it.

Admittedly, most problems that can arise when dealing with brokers, small shops, or finders are not this drastic. However, the question of how to protect yourself from any type of complication, large or small, when purchasing used machinery still needs to be addressed.

Here are some questions a contract packaging company can ask to ensure that it is dealing with a reputable used-machinery company and to help avoid some foreseeable problems:

1. Has the dealer sold machinery under different names in the past? This issue is a big warning flag. Some brokers are working under their fourth, fifth, and even sixth company names.

2. Is the dealer willing to provide references and contact information? This should be a standard rule of thumb for any salesperson. It is important to check references.

3. Inquire about how the dealer has handled problems in the past. Can it guarantee everything? In every business, successful companies work to avoid any foreseeable problems. On occasion, problems do arise. It cannot hurt to talk to a customer who had a problem and see how the dealer resolved it before you make the equipment investment.

4. Does the dealer have mechanics and electricians to test the machinery before it is shipped? This is a way of guaranteeing that the machinery is in good working order.

5. Does the dealer have a reconditioning facility where the machinery can be seen under power before it is purchased? This is also a way to assure the quality of the machine you are looking to buy.

6. How long has the dealer been at its current location, and does it have a warehouse? This may appear to be a very basic question, but it will help to determine the company&#;s stability, commitment to the industry, and financial strength.

7. Does the dealer have a documented return policy so that if the purchaser is not 100% satisfied with the item purchased, it may be returned?

8. How long has the dealer had a relationship with its current financial institution? Ask for a contact to speak to as a reference. Being able to return a machine is great, but it only works if you are sure the person you are dealing with will have the money available when the item is returned.

9. Does the dealer offer a warranty program to ensure that the machinery being purchased is not going to have any mechanical or electrical issues once it is in full production? Often, the more reputable companies are willing to work with customers to assure their satisfaction and, consequently, their future business.

10. Does the dealer stock most of its machines or does it broker them? This will establish whether you are dealing with a middleman or the company is in charge. When dealing with a broker or the owner of the equipment, you may have to pay a higher purchase price in order to cover the broker&#;s commission.

Most of these questions should be answered on the dealer&#;s Web site. If not, you will have to ask the dealer&#;some of the answers may come as a surprise.

Moreover, if the dealer hesitates in answering any of these questions, this can be taken as a warning; these are standard questions that a reputable dealer should be easily and willingly able to address. [CP]

Portions of this article were published with permission from the author and first appeared in the trade report Business Briefing: Global Cosmetics Manufacturing .

See sidebar to this article: What to consider when redeploying or selling idle machinery

15 Product Bundling Examples That Convert (& 9 Proven ...

Product bundling allows you to boost sales, grow your revenue, and improve your customer&#;s average order value (AOV).

In fact, Forrester&#;s research states that upselling and cross-selling contribute to around 10&#;30% of eCommerce revenues.

In this guide, we feature 15 actionable product bundling examples that you can easily experiment with, and alongside, 9 proven best practices that will help you convert plus 3 mistakes to avoid.

The post also covers:

9 Product Bundling Best Practices That Make Your Customers Hit Buy Instantly

3 Mistakes to Avoid While Product Bundling

15 Handpicked Product Bundling Examples&#;Brands Doing it Right

1. Use &#;pure bundling&#; for slow movers

Pure bundles are combinations of the same product or different products that shoppers can&#;t buy individually.

This is why pure bundling is best applied when you want to mobilize your slow-moving products.

SquattyPotty, the FDA-approved pooping accessories maker applies this strategy on Invisibrush, their trademarked toilet brush + brush holder set, bundled with a replacement brush.

Another example of a pure bundle is Skinny & Co&#;s Cleansing Balm 3-pack bundle, which also showcases an attractive bundle pricing example of quantity discounts.

2. Create a sense of variety through &#;mix bundles&#;

Mixed bundles instantly reflect on bundle pricing choices.

While buying individual items may not make sense for your customers, getting them along with the items they need makes it more appealing.

Skinny & Co&#;s travel kit of 100% organic cosmetic products is an example of a mixed product bundle that offers value to the customer

When it comes to gifting, mixed bundles can be a lifesaver&#;shoppers like them because they're not time-consuming. Some retailers use gift bundles as guides for their shoppers to match different occasions.

You can keep your gift bundles flexible&#;like the gift crates offered by ManBox.

3. Enhance savings through &#;buy-more-pay-less&#; bundles&#;

There are 3 ways you can use this kind of bundle marketing effectively and increase your AOV, an essential eCommerce metric:

Offer 2 or more products at a single price (and don&#;t make the products individually available)
Offer a set of high-priced and low-priced products (this bundling tactic features a leader product plus savings)
Offer multiple kinds of products together (while customers can buy some of the items separately, they&#;ll miss out on the deal if the don't buy the bundle)

GetFPV is a US-based drone and first-person-view (FPV) equipment retailer that features a dedicated drone bundles category using 38 of their fastest-selling units, featuring great discount deals.

4. Move unpopular items with &#;BOGO&#; bundle marketing

As per a survey by AMG Strategic Advisors, 93% of customers prefer Buy One Get One (BOGO) bundles.

BOGO pure bundles may come as a multi-pack of defined volume&#;typically with a popular product at a discount and the less popular one at no cost.

Sometimes this kind of a bundle promotion allows buyers to decide their quantity.

Mixed BOGO bundles are effective for cross-selling products within the same category. In this case, buyers get a different additional product when they buy the bundle.

BOGO bundle types are prevalent, and nearly 7 out of 10 buyers agree it&#;s their favorite kind of product bundle.

Pro Tip: Offer free shipping discount on BOGO bundles to stop shopping cart abandonment.

This is the promotional bundle strategy that Jigsaw Health uses, offering free-shipping benefit for orders over $89 in the US.

5. Make them buy more with &#;upsell bundles&#;

An upselling bundle is a kind of bundling marketing tactic to increase the overall AOV of your customers. Using an upsell product bundling strategy can be 68% more effective than trying to grab a new customer.

Opting for an upselling bundle promotion can::

Help customer discover your complementary products
Offer more value to the customer
Increase how much profit each customer brings

For example, Koh, a brand of cleaning products, presents an irresistible upsell bundle offer at checkout.

6. Personalize through amazing &#;cross-sell bundles&#;

Because 96% of marketers agree that segmentation is the key to boosting product bundling offers, use eCommerce personalization to make your cross-sell bundles more effective.

This is one of the product bundling pricing examples where shoppers get convinced thanks to how well the bundle can help them solve several problems.

Pro Tip: Switch out single-product recommendations for cross-sell bundles on your product and checkout pages.

Here&#;s an example from Vanity Planet&#;s cross-sell bundle recommendation:

7. Keep &#;em coming back with &#;subscription bundling&#;

A great product bundling idea to get repeat customers is subscription bundling.

This offers a lot of value to subscribers, keeps them engaged in more than one product, and helps fight subscription fatigue.

Subscription bundles come with doorstep delivery, discounts, and the flexibility of buyers choosing their box contents.

NatureBox, the healthy snack subscription brand makes a one-time order of snack boxes in any quantity.

Shoppers can cancel subscriptions anytime, and NatureBox will refund the unused balance from their last subscription payment.

8. Give &#;em the power of choice through &#;DIY bundles&#;

DIY or do-it-yourself bundling marketing gives you benefits like:

Selling to a broader range of buyers,
Improving buyer satisfaction, and
Giving your shoppers a great brand experience

DIY bundling marketing works well for several categories including fashion, tech products, gifting items as well as skincare and cosmetic products.

Culture Kings product bundles specify product combinations and volumes buyers can build&#;but leaves the choice of brand, style, and size to them.

ManBox is a Canadian retailer of men&#;s gift boxes, more like crates. The crates are handcrafted and filled with items based on themes like alcohol, new daddy gifts and fashion & grooming items amongst others.

9. Curate &#;seasonal bundles&#; for more sales

Bundle offers for seasonal holidays, festivities, and sales promotion days like during Black Friday and Christmas can be effective conversion drivers.

You can also offer year-round bundles as specially curated, discounted bundles with a countdown timer for urgency. (Check this out!)

All curated bundles offered at specific times of the year&#;having good value and deadline-based&#;are seasonal bundles&#;here&#;s an example from Amazon:

10. Refresh buyer attention with &#;clearance bundles&#;

Inventory clearance bundling is a product bundling example that allows you to repackage stagnant, slow-selling, or surplus inventory to get new attention.

The main benefits of this type of product bundling include:

Reducing inventory waste
Cutting the cost of storing products, and
Clearing surplus and dead or slow-moving stock

Kitting slow-moving replenishable SKUs with bestsellers is also a good practice in inventory clearance bundling.

Pro Tip: Use inventory clearance bundling to launch new products. You may also bundle new products with surplus or stagnant inventory as a mixed BOGO bundle promotion.

Here&#;s an example from GetFPV. They use inventory clearance bundling to offer a selection of compatible parts for their drone DIY kit.

Keen to make your eCommerce products stand out through relevant descriptions? Read How to Write Product Descriptions: 11 Proven Ideas (with Examples)

11. Help &#;em save through &#;favorites bundling&#;

The bundling of favorite items can help you share your product bundle pricing advantages with your customers.

Often they are just one product in multiple numbers&#;an in-between with a long subscription model on one hand and a one-time purchase on the other.

Here&#;s an example of this kind of bundle offer from health brand Hers&#;this is a great tactic if you want to establish loyalty in your customers.

12. Gamify the bundling marketing experience

Product bundling can be much more than landing a great deal.

This is where gamification comes into the picture. It is a technique you could use to turn bundling into an exploratory and joyful process just as Lush Cosmetics does.

Their two-step bundling process offers a few visible benefits:

Offers the shopper the capability to experiment with a range of products across categories, and later, even design elements
Enables the shopper to turn the bundle into a gift&#;which includes writing one&#;s own customized message

Recommended reading: 14 Common CRO Mistakes eCommerce Brands Make

13. Enhance the experience through &#;gift box bundling&#;

To have a shopper avail a gift box with freedom of customization represents one of the best product bundle examples. In such an instance, you&#;ll have to define two aspects -

The fixed price at which this box will be available
The maximum number of items that can be added to the box

Daily Harvest lets their customers take their pick in the &#;Gifts&#; section of their eCommerce site.

They have at least two gift box options in this bundle pricing example that nudges:

Audiences with different gifting budgets in mind
Choosing between &#;pick any 9 items&#; and &#;pick any 6 pints&#;

14. Enrich your bundle pricing strategy with authority

If you&#;ve run out of product bundling ideas, try the &#;staff favorites edition&#;.

It conveys authority especially when customers aren&#;t clear about what product to choose.

This is one of the product bundle examples that lead to easier decision-making.

Colorescience has product bundles formulated as staff favorites.

The explanation and detailing demonstrate legitimacy and credibility. Staff edition bundles help in:

Additional reading:
10 Things to Consider When Buying laser welding machine
High Reliability Yuchai Yc4g Euro 5 Emission Classic ...

If you are looking for more details, kindly visit bundling machine price.

Product discovery enabling customers to find products they&#;re unaware of
increasing perceived value of the product since there is strong social proof
Buying products that address their problem without having to scour the site

15. Drive instant sales with &#;limited edition bundles&#;

According to a Ypulse study, limited edition products are a favorite among Millennial and Gen Z demographics. 46% of 18-24 year olds and 45% of 25-39 year olds have bought limited edition products.

Limited edition bundles have the following benefits:

Introduce new products, enhance customer preferences, and drive incremental sales
Help increase profits during a lean patch
Generate increased traffic and organic conversions

Simplify inventory management and forecasting

Here&#;s an example of a limited edition bundle from Pai Skincare:

9 Bundle Offer Best Practices For Better Conversions

High-converting product bundling depends on how much you know about your buyers&#; purchasing habits&#;here are some product bundle pricing strategies you might want to apply on your store:

1. Decide which bundle to create

Here&#;s what to consider when bundling your products:

a) Bundling based on product sales performance

McDonald&#;s combines high-performing products with less popular ones:

b) Bundling based on seasonal trends

Some products tend to sell at certain times of the year or when certain events happen.

Therefore, you can offer bundled offers containing those products with complementary items.

c) Bundling based on sales channels

If you want to drive growth for a new or underperforming product through a specific channel, a bundle product strategy can help.

d) Bundling based on offers, discounts, or free shipping

You might use products with high-profit margins for your bundling offers that include free shipping.

Bathorium encourages customers to purchase its bundle by adding a free shipping incentive&#;adding a bonus product makes the bundle more lucrative.

2. Fix your goals, then the bundle price

Make buyers&#; problems suggest the kind of bundle product you create. Alpkit creates a bundle specifically for marathons.

But say you decide not to sell your product at a discount. Would it still convert?

That would depend on several factors:

The product type,
Individual product costs,
Target buyers, and
Product or sales seasonality

Establish the net revenue you make from selling each product at its original price. This would give you the gross margin.

Once you know your gross margin, you can decide on the bundle pricing discount. It&#;s best to keep your discounts between 5% to 20% of your gross margin.

3. Think about your customers before naming your bundle

In case you&#;re faced with a dilemma, you can refer to these questions for naming inspiration:

Which audience will benefit from it?
Should it be descriptive or imaginative?
How should it reflect the brand?

Here&#;s an example from Purple.

4. Introduce a product bundle at checkout

Adding bundled products at checkout is a great option to boost eCommerce sales.

Note this example from Best Buy.

A few things to remember when bundling products at checkout are:

They are related to the items already added to the cart
They are not too pricey as that&#;ll deter the customer
They&#;re positioned to not create cognitive load and distraction

5. Create landing pages for promotional bundles

Landing pages meant for product bundling solutions make it easy for buyers to check for offers and discounts. This is how ThirdLove creates a separate section for their bundles called ThirdLove Kits.

You must also read: Boost eCommerce landing page conversions: 18 scientific strategies

6. Bundle only relevant freebies

It&#;s important to make sure that the free items you&#;re bundling are relevant to the product/s added to the cart.

A superb use of freebies can be to deal with product overstocking. Offering extra product stocks as freebies can help bring down excess stocks.

7. Highlight the savings for customers

The priority for most shoppers is to find a product that fits within their budget. So, make the savings bit visible for customers to weigh in.

Native makes its order compelling for customers by adding a savings option&#;the subscribe feature comes auto-selected to nudge the customers in the right direction.

8. Highlight BNPL options to compel customers to buy

BNPL programs benefit retailers and eCommerce businesses by:

a) Encouraging new product trials

62% of customers think that BNPL options will replace credit cards. This will help customers try out new product bundles at your eCommerce store.

b) Boosting conversion rates

eCommerce brands that offer BNPL services experience a 20-30% increase in conversion rates.

c) Improving Customer Lifetime Value

BNPL options increase the ticket size by 30-50%. MyProtein offers two BNPL options on its product pages to encourage customers to try new product bundles.

9. Display promo codes to reinforce bundle shopping

MyProtein includes promo codes on its product category pages to make its product bundles appealing&#;this product bundle pricing invariably reduces cart abandonment.

3 mistakes to avoid while product bundling

When your bundling marketing isn&#;t converting the way you&#;d hoped, then watch out for these gaps:

1. Don&#;t ignore target consumer data

To discover both high and low performing stock, calculate:

Stock/sales ratio (SSR) = Stock $ ÷ Sales $

A stock or sales ratio of one means that you&#;ve entirely sold off all stocked volume of the product in that month. Comparing the stock/sales ratio of all your products will also show the products customers buy more.

Pro Tip: Let the buyers dictate product mixes, and if you haven&#;t got the data to work that out, leave the product options open in a DIY bundle.

2. Don&#;t be restrictive with your bundling tactics

The most important thing to remember when creating high-converting product bundles is to make combinations buyers will find valuable.

Cross-sell bundle recommendations are usually a great idea. But for it to optimize the conversion of your website checkout page, allow a one-step click-to-buy process.

Consider offering various types of bundles as alternatives on your product pages.

3. Don&#;t make your bundles hard to find

There are a lot of easy ways to let shoppers find your product bundling offers:

a) On-site: Product bundling examples on Amazon and most retail stores are predominantly found on-site on different store pages:

Apply promotional bundles in the following ways:

Gift guides
Personalized product recommendations: relevant to cart at checkout
Welcome message, exit-intent popup, or used as a banner,
Category page (for category mixes), or product page (as product recommendations, relevant to the product of interest),
Dedicated bundle pages

b) Social: nearly 30% of marketers distribute promotional content on Facebook. That&#;s 10% more than the number of retailers creating for their websites. Perhaps the best way to decide is to choose the right community where you can find many of your target buyers.

c) marketing: You probably already have to send buyers follow-up emails to recover cart abandonment. Why not offer a sweeter deal while you&#;re at it?

Moreover, message personalization is easier to achieve than website personalization.

Whichever channel you choose to promote your product bundles, getting buyers to notice it is the priority. Consider these essential criteria and decide how to optimize them for better conversion:

Product bundle packaging.
Optimize bundle campaign design to emphasize bundle savings.
Product bundle naming.

Product Bundling 101

1. What are two types of bundling?

Fundamentally, product bundling is of two types:

a) Pure Bundling

Pure bundling refers to product bundles containing the same or complementary products that aren&#;t sold individually.

Pure bundling is further divided into three subcategories:

Joint Bundling: When two products are offered together at one bundled price.
Leader Bundling: Leader bundling refers to a leader product or primary product sold with a non-leader product or accessory&#;the leader product carries a discount.
Mixed-leader Bundling: In mixed-leader bundling, a leader product is offered with one or more non-leader products. The leader product is also available for purchase individually.

b) Mixed Bundling

In mixed bundling, customers have the option to choose the items in a bundle or buy them individually.

Here&#;s an example of mixed bundling from Chewy:

2. What are the different types of bundles?

Apart from pure bundling and mixed bundling, there are five types of product bundling:

a) Cross-sell bundling

Cross-sell bundling consists of a primary product and a complementary product that has no use without the primary product. For example, a nail polish and nail polish remover.

b) New product bundling

New product bundling includes a new selling product along with a best selling product. The best selling product is used as a nudge to reinforce the benefits of the new product.

c) Gift set bundling

Gift set bundling includes products that make for a great gifting experience. It is great for festive occasions such as Thanksgiving, Halloween, Black Friday etc.

d) BOGO bundling

BOGO or Buy One, Get One is a type of bundling containing a high-priced product paired with a similar item offered for free or at a major discount

d) Seasonal bundling

Occasional bundling are bundles created based on themes for particular occasions. This could include celebration bundles, gifting bundles etc. Here&#;s a Valentine&#;s Day bundle from Colorescience.

3. Is bundling upselling?

Bundling is a fusion of upselling and cross-selling. While bundles consist of higher priced and lower priced products, upselling contains only higher priced products. Colorescience has a product bundle consisting of two higher-priced products and one lower-priced product.