What is meant by Compound and option function?
The bundling and options functionality refers to the ability to link products, services, or items together or offer them as options. This functionality allows businesses to bundle various products or services or offer specific options or variations to better meet the needs and preferences of customers. Bundling and options functionality is particularly relevant for e-commerce platforms where customers can combine different products or add additional options to receive customized solutions.
Typical functions of software in the "bundling and options functionality" area include:
- Product bundling: Ability to combine multiple products or services into a package or bundle and sell them together.
- Option selection: Providing choices or options for specific products or services, such as sizes, colors, or configurations.
- Pricing: Dynamically adjusting prices based on the selected options or chosen product bundle.
- Product linking: Linking products or services together to promote cross-selling or upselling.
- Configurator: Providing a configurator that allows customers to create custom products or services by selecting various options.
- Inventory management: Managing inventory for bundled products or options to ensure all components are available.
- Offer management: Managing special offers or discounts for specific product combinations or options to stimulate sales.