Final answer:
Service switching is the term used to describe the act of a customer moving between different products or companies usually for a better price, differing from bundling where multiple services are offered at a discounted rate. Substitution is also related, as it refers to exchanging goods or services for better alternatives.
Step-by-step explanation:
The process in which a customer switches between products or companies, often to get a better price, is referred to as service switching. This term describes the consumer behavior of seeking out better deals and migrating to different providers for services. Contrasting this with the concept of bundling, which is a marketing strategy used by companies to sell multiple products or services together at a discounted rate, service switching emphasizes the customer's active role in the marketplace. A classic example of service switching can be seen when a customer moves from one cable company to another to take advantage of a promotional offer.
Another related economic term is substitution, which refers to the interchangeability of goods or services so that a consumer can replace an unavailable or less desirable option with another, potentially superior, one. This is a common practice when customers are looking for a "good deal" on a product and choose to purchase a similar item at a lower price.