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Products can be categorized into three – stand-alone, supplementary and complementary. Stand-alone products are those, which are purchased and consumed independently. For example, a wall calendar will be a stand-alone product. Complementary products are those which are consumed in pair – a razor blade always goes with the razor system. Finally, supplementary products are those, which are substitutable – one may decide to use a public transport as a supplementary mode of transport to your own car.
Understanding of this can help a small business owner increase the business multi-fold. You may cross-bundle your product with a complementary product marketing company. For example, if you are selling copiers, you may cross-bundle your product with copier paper. Once can launch a marketing campaign to this effect. Complementary product concept can be used to reposition your competition, and offer better value to the end users through this repositioning.
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