Warranty

(noun)

an assurance by one party to the other party that specific facts or conditions are true or will happen; the other party is permitted to rely on that assurance and seek some type of remedy if it is not true or followed

Examples of Warranty in the following topics:

  • Product Warranties

    • AppleCare, shown here, is the hardware warranty and support service offered by Apple Inc.
    • Warranty: Warranties are used to mitigate the risks of a malfunctioning product or the risk of making a wrong purchase decision regarding misinformation about a product.
    • These warranties can provide a wide array of restitution, with a very limited warranty at one end of the continuum and extended warranties at the other.
    • A good jewelry store has a warranty backing up every diamond ring it sells.
    • In this case, sellers should honor the warranty by offering a refund or a replacement.

  • Evaluating Alternatives

    • When a consumer commits significant time to the comparative process and reviews price, warranties, terms and condition of sale and other features it is said that they are involved in extended problem solving.

  • Benefits and Solutions

    • Examples include restrooms, escalators, and elevators in the case of a department store, and warranties and return policies in the case of a lawn mower.

  • Adjustments to Products

    • " Factors such as quality, function, price, service, design, packaging, and warranty may all be determinants.

  • The Marketing Exchange

    • Complimentary perks and services such as add-on features and lifetime warranties are other tactics used by brands to sell product and service benefits to consumers.