In Pack Premium

Posted in Marketing and Strategy Terms, Total Reads: 1031
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Definition: In Pack Premium

This a promotional technique in which a product is bundled and packed with another item i.e. the base product and sold at no extra cost.


In other words, the additional product is given for free. The additional product might be a complementary product to the base product or might just be an additional freebie, unrelated to the base product’s brand.


This strategy is used for two purposes. First, to boost sales by rolling out limited edition freebies. Secondly, otherwise, to increase trial of the free product.


Example:

Advantages of in-pack premium:

• It helps to clear out stocks of products that are not selling

• Easy to launch a new product by giving sample of old and established products with it.

• Helps to boost sales of products as customers easily get attracted by free stuff.

• Increase conversion rate for potential customers, if customers like the sample he’ll buy the product in future.

 

Hence, this concludes the definition of In Pack Premium along with its overview.

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