Presentation on theme: "Marketing 2.06 & 2.07. Warranties/Guarantees Legally binding assurance (which may or may not be in writing) that a good or service is fit for use as represented."— Presentation transcript:
Warranties/Guarantees Legally binding assurance (which may or may not be in writing) that a good or service is fit for use as represented free from defective material and workmanship meets statutory and/or other specifications.
Types of Warranties Express: spoken or written promise Limited: written statement that determines conditions of warranty Implied: always present and enforceable
Professional Organizations Networking Discounts Lobbying Promote product safety
Grades & Standards Allows customer to buy without having to inspect each product Government grades: involuntary Nongovernmental grades: voluntary
Brand Promise Public pledge to consumers Promise to provide Involves employee training
Breaking a Brand Promise Breaking a brand promise=loss of credibility