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Simple English definitions for legal terms
bundle
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A quick definition of bundle:
Term: BUNDLE
Definition: A bundle is when you sell a group of things together for one price. It's like buying a set of toys instead of just one toy. When you buy a bundle, you get all the things you need at once, and it usually costs less than buying each thing separately.
A more thorough explanation:
Definition: To sell related products or services in one transaction at an all-inclusive price.
For example, a software company might bundle their word processing, spreadsheet, and presentation software together and sell them as a package deal. This allows customers to purchase all three products at once for a discounted price, rather than buying each one separately.
Another example could be a cable company offering a bundle package that includes internet, cable TV, and phone services for a set monthly price. This makes it easier for customers to manage their bills and saves them money compared to purchasing each service individually.
These examples illustrate the concept of bundling, which is a marketing strategy used to increase sales and provide convenience for customers.