Bundle (software Distribution)
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Bundle (software Distribution)
In marketing, product bundling is offering several products or services for sale as one combined product or service package. It is a common feature in many imperfectly competitive product and service markets. Industries engaged in the practice include telecommunications services, financial services, health care, information, and consumer electronics. A software bundle might include a word processor, spreadsheet, and presentation program into a single office suite. The cable television industry often bundles many TV and movie channels into a single tier or package. The fast food industry combines separate food items into a " combo meal" or "value meal". A bundle of products may be called a package deal; in recorded music or video games, a compilation or box set; or in publishing, an anthology. Product bundling is most suitable for high volume and high margin (i.e., low marginal cost) products. Research by Yannis Bakos and Erik Brynjolfsson found that bundling was particular ...
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Marketing
Marketing is the act of acquiring, satisfying and retaining customers. It is one of the primary components of Business administration, business management and commerce. Marketing is usually conducted by the seller, typically a retailer or manufacturer. Products can be marketed to other businesses (B2B Marketing, B2B) or directly to consumers (B2C). Sometimes tasks are contracted to dedicated marketing firms, like a Media agency, media, market research, or advertising agency. Sometimes, a trade association or government agency (such as the Agricultural Marketing Service) advertises on behalf of an entire industry or locality, often a specific type of food (e.g. Got Milk?), food from a specific area, or a city or region as a tourism destination. Market orientations are philosophies concerning the factors that should go into market planning. The marketing mix, which outlines the specifics of the product and how it will be sold, including the channels that will be used to adverti ...
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Anthology
In book publishing, an anthology is a collection of literary works chosen by the compiler; it may be a collection of plays, poems, short stories, songs, or related fiction/non-fiction excerpts by different authors. There are also thematic and genre-based anthologies.Chris Baldrick''The Oxford Dictionary of Literary Terms'' 3rd. ed (2008) Complete collections of works are often called " complete works" or "" (Latin equivalent). Etymology The word entered the English language in the 17th century, from the Greek word, ἀνθολογία (''anthologic'', literally "a collection of blossoms", from , ''ánthos'', flower), a reference to one of the earliest known anthologies, the ''Garland'' (, ''stéphanos''), the introduction to which compares each of its anthologized poets to a flower. That ''Garland'' by Meléagros of Gadara formed the kernel for what has become known as the Greek Anthology. '' Florilegium'', a Latin derivative for a collection of flowers, was used in mediev ...
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Information Asymmetry
In contract theory, mechanism design, and economics, an information asymmetry is a situation where one party has more or better information than the other. Information asymmetry creates an imbalance of power in transactions, which can sometimes cause the transactions to be inefficient, causing market failure in the worst case. Examples of this problem are adverse selection, moral hazard,Dembe, Allard E. and Boden, Leslie I. (2000). "Moral Hazard: A Question of Morality?" New Solutions 2000 10(3). 257–79 and monopolies of knowledge. A common way to visualise information asymmetry is with a scale, with one side being the seller and the other the buyer. When the seller has more or better information, the transaction will more likely occur in the seller's favour ("the balance of power has shifted to the seller"). An example of this could be when a used car is sold, the seller is likely to have a much better understanding of the car's condition and hence its market value than the buy ...
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Production (economics)
Production is the process of combining various inputs, both material (such as metal, wood, glass, or plastics) and immaterial (such as plans, or knowledge) in order to create output. Ideally this output (economics), output will be a goods and services, good or service which has value (economics), value and contributes to the utility (economics), utility of individuals. The area of economics that focuses on production is called production theory, and it is closely related to the consumption (or consumer) theory of economics. The production process and output directly result from productively utilising the original inputs (or factors of production). Known as primary producer goods or services, land, labour, and capital are deemed the three fundamental factors of production. These primary inputs are not significantly altered in the output process, nor do they become a whole component in the product. Under classical economics, materials and energy are categorised as secondary factors a ...
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Marginal Cost
In economics, the marginal cost is the change in the total cost that arises when the quantity produced is increased, i.e. the cost of producing additional quantity. In some contexts, it refers to an increment of one unit of output, and in others it refers to the rate of change of total cost as output is increased by an infinitesimal amount. As Figure 1 shows, the marginal cost is measured in dollars per unit, whereas total cost is in dollars, and the marginal cost is the slope of the total cost, the rate at which it increases with output. Marginal cost is different from average cost, which is the total cost divided by the number of units produced. At each level of production and time period being considered, marginal cost includes all costs that vary with the level of production, whereas costs that do not vary with production are fixed. For example, the marginal cost of producing an automobile will include the costs of labor and parts needed for the additional automobile but not t ...
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Home Cinema
A home cinema, also called home theater, is a home entertainment audio-visual system that seeks to reproduce a movie theater experience and mood using consumer grade electronic video and audio equipment and is set up in a private home. In the 1980s, home cinemas typically consisted of a movie pre-recorded on a LaserDisc or VHS tape; a LaserDisc Player or VCR; and a large-screen cathode-ray tube TV set, although sometimes CRT projectors were used instead. In the 2000s, technological innovations in sound systems, video player equipment, TV screens and video projectors changed the equipment used in home cinema set-ups and enabled home users to experience a higher-resolution screen image, improved sound quality and components that offer users more options (e.g., many Blu-ray players can also stream movies and TV shows over the Internet using subscription services such as Netflix). The development of Internet-based subscription services means that 2020s-era home theatre users ...
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Big-box Store
A big-box store, a hyperstore, a supercenter, a superstore, or a megastore is a physically large retail establishment, usually part of a chain of stores. The term sometimes also refers, by extension, to the company that operates the store. The term "big-box" references the typical appearance of buildings occupied by such stores. Commercially, big-box stores can be broken down into two categories: general merchandise (examples include Walmart and Target) and specialty stores (such as Home Depot, Barnes & Noble, IKEA or Best Buy), which specialize in goods within a specific range, such as hardware, books, furniture or consumer electronics, respectively. In the late 20th and early 21st centuries, many traditional retailers and supermarket chains that typically operate in smaller buildings, such as Tesco and Praktiker (the latter which is defunct since 2014), opened stores in the big-box-store format in an effort to compete with big-box chains, which are expanding internationa ...
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Consumer Electronic
Consumer electronics, also known as home electronics, are electronic devices intended for everyday household use. Consumer electronics include those used for entertainment, communications, and recreation. Historically, these products were referred to as "black goods" in American English due to many products being housed in black or dark casings. This term is used to distinguish them from "white goods", which are meant for housekeeping tasks, such as washing machines and refrigerators. In British English, they are often called "brown goods" by producers and sellers. Since the 2010s, this distinction has been absent in big box consumer electronics stores, whose inventories include entertainment, communication, and home office devices, as well as home appliances. Radio broadcasting in the early 20th century brought the first major consumer product, the broadcast receiver. Later products included telephones, televisions, calculators, cameras, video game consoles, mobile phones, ...
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Economies Of Scope
Economies of scope are "efficiencies formed by variety, not volume" (the latter concept is "economies of scale"). In the field of economics, "economies" is synonymous with cost savings and "scope" is synonymous with broadening production/services through diversified products. Economies of scope is an economic theory stating that average total cost (ATC) of production decrease as a result of increasing the number of different goods produced. For example, a gas station primarily sells gasoline, but can sell soda, milk, baked goods, etc. and thus achieve economies of scope since with the same facility, each new product attracts new dollars a customer would have spent elsewhere. The business historian Alfred Chandler argued that economies of scope contributed to the rise of American business corporations during the 20th century. Economics The term and the development of the concept are attributed to economists John C. Panzar and Robert D. Willig (1977, 1981). Their 1981 article n ...
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Economies Of Scale
In microeconomics, economies of scale are the cost advantages that enterprises obtain due to their scale of operation, and are typically measured by the amount of Productivity, output produced per unit of cost (production cost). A decrease in unit cost, cost per unit of output enables an increase in scale that is, increased production with lowered cost. At the basis of economies of scale, there may be technical, statistical, organizational or related factors to the degree of Market (economics), market control. Economies of scale arise in a variety of organizational and business situations and at various levels, such as a production, plant or an entire enterprise. When average costs start falling as output increases, then economies of scale occur. Some economies of scale, such as capital cost of manufacturing facilities and friction loss of transportation and industrial equipment, have a physical or engineering basis. The economic concept dates back to Adam Smith and the idea o ...
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Marketing Science (journal)
''Marketing Science'' is a bimonthly peer-reviewed academic journal published by the Institute for Operations Research and the Management Sciences. It covers operations research and mathematical modeling to analyze marketing. According to the ''Journal Citation Reports'', the journal has a 2022 impact factor of 5.0. It is ranked fifth on SCImago The SCImago Journal Rank (SJR) indicator is a measure of the prestige of scholarly journals that accounts for both the number of citations received by a journal and the prestige of the journals where the citations come from. Etymology SCImag ... journal rank in the field of marketing. The mission of the journal includes three objectives: # Broaden the audience for ''Marketing Science'' # Increase the impact of the journal # Make the process more efficient References External links * Marketing journals English-language journals Bimonthly journals INFORMS academic journals Academic journals established in 1989 {{mar ...
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Management Science (journal)
''Management Science'' is a peer-reviewed academic journal that covers research on all aspects of management related to strategy, entrepreneurship, innovation, information technology, and organizations as well as all functional areas of business, such as accounting, finance, marketing, and operations. It is published by the Institute for Operations Research and the Management Sciences and was established in 1954 by the institute's precursor, the Institute of Management Sciences. C. West Churchman was the founding editor-in-chief. According to the ''Journal Citation Reports'', the journal has a 2022 impact factor of 5.4. Editors-in-chief The following persons are, or have been, editors-in-chief: *2018–2023: David Simchi-Levi *2014–2018: Teck-Hua Ho *2009–2014: Gérard Cachon *2003–2008: Wallace Hopp *1997–2002: Hau L. Lee *1993–1997: Gabriel R. Bitran *1983–1990: Donald G. Morrison *1968–1983: Martin K. Starr *1960–1967: Robert M. Thrall *1954–1960: C ...
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