The Effect of Mixed-bundle Strategy on Consumer Willingness to Pay: Focusing on the Moderating Effect of Product Similarity Level
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This study considered whether the type of bundle price products, i.e., mixed-leader building strategies and mixed-loss leader building strategies, differed depending on the similarity of the product. Existing studies have considered only two situations: a mixed-leader bundling strategy and a mixed-joint bundling strategy that presents only one discounted bundle price. However, in addition to the mixed-leader bundling strategy, this study was intended to present the effectiveness of the mixed-loss leader building strategy, which marks the discount on the main product. The analysis showed no statistically significant differences, but showed that the mixed-loss leader building strategy had a slightly higher tendency to pay the price of the consumer than the mixed-leader building strategy. In addition, the effects of mixed-leader building strategies and mixed-loss leader building strategies on consumers' willingness to pay their prices depend on the similarity of products. Specifically, when product similarity is low, the mixed-induction bundle price strategy shows that consumers have a lower inclination to pay for prices than the mixed-loss-inducing bundle price strategy. However, when product similarity is high, these differences have been shown to disappear. In other words, there is no difference in the consumer's willingness to pay the price based on the mixed-leader bundle price strategy and the mixed-loss leader bundle price strategy. Finally, existing studies have presented only two mixed bundle pricing strategies: mixed-leader bundling and mixed-joint bundling strategies. However, this study has a theoretical point in that it seeks to newly present the effectiveness of the mixed-loss leader building strategy of discounting the flagship product. Furthermore, this work has theoretical implications in that it newly identifies the moderating effect of product similarity in comparing the effectiveness of mixed-leader bundling strategies with mixed-loss leader building strategies. Finally, the results of this study can provide marketing managers with an effective way to exhaust product inventory and increase sales.
Abstract
This study considered whether the type of bundle price products, i.e., mixed-leader building strategies and mixed-loss leader building strategies, differed depending on the similarity of the product. Existing studies have considered only two situations: a mixed-leader bundling strategy and a mixed-joint bundling strategy that presents only one discounted bundle price. However, in addition to the mixed-leader bundling strategy, this study was intended to present the effectiveness of the mixed-loss leader building strategy, which marks the discount on the main product. The analysis showed no statistically significant differences, but showed that the mixed-loss leader building strategy had a slightly higher tendency to pay the price of the consumer than the mixed-leader building strategy. In addition, the effects of mixed-leader building strategies and mixed-loss leader building strategies on consumers' willingness to pay their prices depend on the similarity of products. Specifically, when product similarity is low, the mixed-induction bundle price strategy shows that consumers have a lower inclination to pay for prices than the mixed-loss-inducing bundle price strategy. However, when product similarity is high, these differences have been shown to disappear. In other words, there is no difference in the consumer's willingness to pay the price based on the mixed-leader bundle price strategy and the mixed-loss leader bundle price strategy. Finally, existing studies have presented only two mixed bundle pricing strategies: mixed-leader bundling and mixed-joint bundling strategies. However, this study has a theoretical point in that it seeks to newly present the effectiveness of the mixed-loss leader building strategy of discounting the flagship product. Furthermore, this work has theoretical implications in that it newly identifies the moderating effect of product similarity in comparing the effectiveness of mixed-leader bundling strategies with mixed-loss leader building strategies. Finally, the results of this study can provide marketing managers with an effective way to exhaust product inventory and increase sales.
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