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					     Extended Product Features
Warranty
    Promise or guarantee given to a customer that a
    product will meet certain standards.

SHOULD BUSINESSES BE REQUIRED BY LAW TO
          ISSUE WARRANTEES?
Two Kinds of Warrantees:
Express Warranty
     Explicitly stated in either writing or spoken
     words to induce a customer to buy.

Two Kinds of Express Warrantees:
      Full Warranty
           If a product is found to be defective
           within the warranty period, it will be
           repaired at no cost to the purchaser.
      Limited Warranty
           Offers less coverage than a full
           warranty.
Implied Warranty
    Exists automatically by state law whenever a
    purchase takes place.

Two Kinds of Implied Warranties:
      Warranty of Merchantability
         Promise from the seller that the product sold is
         fit for its intended use.
      Warranty of Fitness for a Particular Purpose
         Seller advises a customer that a product is
         suitable for a particular use and the customer
         acts on that advice.
Disclaimer
  Statement that contains exceptions to and
  exclusions from a warranty.

 The Most Important Extended Product Feature!
     Warrantees are significant because they:
 Force a company to focus on customer needs.
 Set clear standards of performance.
 Generate customer feedback.
 Encourage quality controls.
 Boost promotional efforts.
       Extended Warranties or Service Contracts
Provide repair service or preventative maintenance for a
specified length of time beyond a product’s normal
warranty period.

Other Extended Product Features Include:
     Delivery of the product on time.
     Proper installation if needed.
     Accuracy and timeliness of bill.
     Prompt, courteous, and correct service.
     Available technical assistance.
     Properly written directions.
      Consumer Product Safety Commission
Responsible for monitoring the safety of more than 11,000 mostly
non-food items (remember lawn darts?.

State Statutes
  Lemon Law -protects consumers from poorly built cars
  Arbitration Programs -impartial third party (BBB)

             Consumer Rights and Responsibilities
There are several steps a consumer can take to resolve a problem:
        Contact the retailer
        Contact the manufacturer
        Contact local, state, or federal offices that assist in
           customer complaints
        Take legal action.

				
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posted:8/22/2012
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