Question

BioMark Lifesystems wanted to enhance the adoption of its new diagnostic substances by medical laboratories. It made an agreement with the dominant producer of syringes and test tubes to have its diagnostic substances sold to laboratories in a package along with the syringes and tubes. This arrangement is known as:

Answer 1

Answer:

The answer is- A bundling relationship

Explanation:

Bundling is defined as when a company packages some of their products or services together as a single combined unit, often for a lower price than they would charge the customers if the items are sold independently or separately. This helps to facilitate the convenient sale of products or services from one company.

An example could be if Oral-B decides to sell both their toothpaste and toothbrush together as a single combined unit at a lower price than if selling the toothpaste or toothbrush separately.

BioMark Lifesystems' arrangement with the producer of syringes and test tubes to have diagnostic substances sold to laboratories in a package along with the syringes and tubes is called bundling relationship.