3836517
Description
Flashcards by George Feldmann9097, updated more than 1 year ago
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Created by George Feldmann9097
over 8 years ago
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| Question | Answer |
| G.F Bait and switch- The fraudulent practice of advertising and luring consumers to a store with promised products or services that then appear to be unavailable and replaced with higher priced items | |
| G.F Bandwagon – Trend that gains popularity and demand of products | |
| G.F Better Business Bureau (BBB)- gathers and reports information on business/service reliability and alerts and informs the public of its findings. Consumers can also file complaints with the BBB. | |
| G.F Brand loyalty- Consumers become committed to a certain brand and make repeat purchases over time. Loyal customers will consistently purchase products from their preferred brands, regardless of convenience or price. | |
| G.F Bundle Plan- A pricing plan that combines two or more utilities that offers savings for the consumer (i.e. cable + internet + phone with same company) | |
| G.F Commerce- agency to further the interest of the local business | |
| G.F Conserve – to save or reduce | |
| G.F Cost per Wear/Use- divide total cost of item or service by how often it is used or worn to determine the true cost effectiveness of this purchase | |
| G.F Electronic messaging- Advertising through the use of unsolicited texts, emails, and banners on web pages | |
| G.F Energy Guide Label – Yellow sticker, required by law, which allows a consumer to compare the yearly cost to operate an appliance. | |
| G.F Energy Star Label – government backed green and blue logo that shows outstanding energy efficiency. | |
| G.F Extended warranty – A warranty that is purchased and extends beyond the basic warranty usually giving more time and more coverage. | |
| G.F Federal Trade Commission- is an independent agency of the United States government, with a mission to promote consumer protection and eliminate and prevent monopolies. | |
| G.F Food & Drug Administration – Food and Drug Administration – responsible for protecting the health of the public in the following areas: food, drugs, medical devices, cosmetics, tobacco, animal products | |
| G.F Full warranty – Covers all parts of a product but may have time limitations. The warrant is not valid for normal wear and tear or consumer misuse. | |
| G.F Home owner's insurance- Required coverage that provides protection for your residence and its associated financial risks, such as damage to personal property and injuries to others. | |
| G.F Implied warranty - A warranty that is not written but is implied that a product sold functions as it is intended | |
| G.F Limited warranty - A warranty that covers part of a product but not all. Example: might cover parts but not labor. | |
| G.F Loss Leader- A product or service sold at a substantial discount in order to generate additional sales | |
| G.F Phishing- sending an electronic message falsely claiming to be a legitimate business for the purpose of gaining personal or financial information | |
| G.F Pop-ups – a new web browser window that displays advertisements | |
| G.F Predatory practices/lending- When lenders conduct business in ways that are deceptive. They may use several fraudulent, deceptive, or discriminatory methods, to lure the consumer into practice that could lead to financial ruin. | |
| G.F Redress – money or other benefits that a consumer receives as fair compensation for a company’s mistake for remedy for wrong or loss | |
| G.F Renter's insurance - A type of insurance that covers the loss of a tenant's personal property as a result of damage or theft. A landlord's insurance does not cover a tenant's possessions. | |
| G.F Rewards- Items or perks that are earned by your purchasing history | |
| G.F SPAM – Advertising messages received over e-mail or electronic messaging system that is unwanted | |
| G.F Testimonials- Stories told by happy consumers about a product or service that may influence others | |
| G.F Utilities - Cost of running a home either rented or owned. Examples include: electricity, water, gas, and trash. |
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