3895014
Description
Flashcards by brandon_keeton, updated more than 1 year ago
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Created by brandon_keeton
over 8 years ago
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| Question | Answer |
| ** Bait & Switch ** Brandon Keeton | 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 |
| ** Bandwagon ** Brandon Keeton | trend that gains popularity and demand of products |
| Better Business Bureau (BBB) ** Brandon Keeton ** | 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 |
| ** Brand Loyalty ** Brandon Keeton | 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 |
| ** Bundle Plan ** Brandon Keeton | A pricing plan that combines two or more utilities that offers savings for the consumer (i.e. cable + internet + phone with same company) |
| ** Commerce ** Brandon Keeton | agency to further the interest of the local business |
| ** Conserve ** Brandon Keeton | to save or reduce |
| ** Cost Per Wear / Use ** Brandon Keeton | divide total cost of item or service by how often it is used or worn to determine the true cost effectiveness of this purchase |
| ** Electronic Messaging ** Brandon Keeton | Advertising through the use of unsolicited texts, emails, and banners on web pages |
| ** Energy Guide Label ** Brandon Keeton | yellow sticker, required by law, which allows a consumer to compare the yearly cost to operate an appliance |
| ** Energy Star Label ** Brandon Keeton | government backed green and blue logo that shows outstanding energy efficiency |
| ** Extended Warranty ** Brandon Keeton | A warranty that is purchased and extends beyond the basic warranty usually giving more time and more coverage |
| ** Federal Trade Commission ** Brandon Keeton | An independent agency of the United States government, with a mission to promote consumer protection and eliminate and prevent monopolies |
| ** Food & Drug Administration ** Brandon Keeton | responsible for protecting the health of the public in the following areas: food, drugs, medical devices, cosmetics, tobacco, animal products |
| ** Full Warranty ** Brandon Keeton | covers all parts of a product but may have time limitations. The warrant is not valid for normal wear and tear or consumer misuse |
| ** Home Owner's Insurance ** Brandon Keeton | required coverage that provides protection for your residence and its associated financial risks, such as damage to personal property and injuries to others |
| ** Implied Warranty ** Brandon Keeton | A warranty that is not written but is implied that a product sold functions as it is intended |
| ** Limited Warranty ** Brandon Keeton | A warranty that covers part of a product but not all. Example: might cover parts but not labor |
| ** Loss Leader ** Brandon Keeton | A product or service sold at a substantial discount in order to generate additional sales |
| ** Phishing ** Brandon Keeton | sending an electronic message falsely claiming to be a legitimate business for the purpose of gaining personal or financial information |
| ** Pop - Ups ** Brandon Keeton | a new web browser window that displays advertisements |
| ** Predatory Practices ** Brandon Keeton | 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 |
| ** Redress ** Brandon Keeton | money or other benefits that a consumer receives as fair compensation for a company’s mistake for remedy for wrong or loss |
| ** Renter's Insurance ** Brandon Keeton | 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 |
| ** Rewards ** Brandon Keeton | Items or perks that are earned by your purchasing history |
| ** SPAM ** Brandon Keeton | advertising messages received over e-mail or electronic messaging system that is unwanted |
| ** Testimonials ** Brandon Keeton | stories told by happy consumers about a product or service that may influence others |
| ** Utilities ** Brandon Keeton | cost of running a home either rented or owned. Examples include: electricity, water, gas, and trash. |
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