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17 Cards in this Set
- Front
- Back
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Warehouse clubs
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sell products to customers who pay a membership fee
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warranty
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a guarantee of the soundness of a product or service
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Magnuson Moss Warranty Act
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if there is a written warranty, if must include:
-a clear description of exactly what is covered and what isn't -what the manufacture or seller will do if the product is defective -who is eligible for the warranty |
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Limited warranty
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does not meet one of the 5 federal standards
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comparison shopping
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checking several alternatives to make sure you are getting the best prices on an item
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outlet stores
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sell merchandise from only one manufacture, generally at less then full priced retail
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merchantability
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it is in its proper condition, and does what it is suppose to do
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implied warranty
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a warranty that is legally in effect even though it is nor in writing
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national brands
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products with well-known, nationally advertised trade names
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service contract
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sometimes called an "extended warranty" that is an optional service agreement that may be purchased to provide protection beyond the warranty
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factory seconds
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products that may have slight defects that do not affect the performance or appearance of the products.
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fitness of purpose
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sellers advises a customer that a product can be used for a special purpose
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full warranty
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meets all 5 of the federal standards
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store brands
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products that are marketed only in a particular chain of stores and thus have a lesser-known trade name
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bonded
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a service provider that carries insurance to cover financial loss caused by a third party
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tips for shopping at home
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-watch out for impulse clicks
-not details or call -check the return/refund policies -keep records of transactions -secure site -compare prices -pay by credit card -check order upon arrival |
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items that should be in a service contract:
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-what does the service contact provide that the warenty dose not?
-is it worth it? -how long do you plan to keep the product -who is backing up the service contract (do they have a good reputation) |
