Flashcards
Unit 3 Vocabulary Flashcards
Flashcards do conjunto (28)
- 1** Bait & Switch ** Brandon Keetonthe 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
- 2** Bandwagon ** Brandon Keetontrend that gains popularity and demand of products
- 3Better 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
- 4** Brand Loyalty ** Brandon Keetonconsumers 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
- 5** Bundle Plan ** Brandon KeetonA pricing plan that combines two or more utilities that offers savings for the consumer (i.e. cable + internet + phone with same company)
- 6** Commerce ** Brandon Keetonagency to further the interest of the local business
- 7** Conserve ** Brandon Keetonto save or reduce
- 8** Cost Per Wear / Use ** Brandon Keetondivide total cost of item or service by how often it is used or worn to determine the true cost effectiveness of this purchase
- 9** Electronic Messaging ** Brandon KeetonAdvertising through the use of unsolicited texts, emails, and banners on web pages
- 10** Energy Guide Label ** Brandon Keetonyellow sticker, required by law, which allows a consumer to compare the yearly cost to operate an appliance
- 11** Energy Star Label ** Brandon Keetongovernment backed green and blue logo that shows outstanding energy efficiency
- 12** Extended Warranty ** Brandon KeetonA warranty that is purchased and extends beyond the basic warranty usually giving more time and more coverage
- 13** Federal Trade Commission ** Brandon KeetonAn independent agency of the United States government, with a mission to promote consumer protection and eliminate and prevent monopolies
- 14** Food & Drug Administration ** Brandon Keetonresponsible for protecting the health of the public in the following areas: food, drugs, medical devices, cosmetics, tobacco, animal products
- 15** Full Warranty ** Brandon Keetoncovers all parts of a product but may have time limitations. The warrant is not valid for normal wear and tear or consumer misuse
- 16** Home Owner's Insurance ** Brandon Keetonrequired coverage that provides protection for your residence and its associated financial risks, such as damage to personal property and injuries to others
- 17** Implied Warranty ** Brandon KeetonA warranty that is not written but is implied that a product sold functions as it is intended
- 18** Limited Warranty ** Brandon KeetonA warranty that covers part of a product but not all. Example: might cover parts but not labor
- 19** Loss Leader ** Brandon KeetonA product or service sold at a substantial discount in order to generate additional sales
- 20** Phishing ** Brandon Keetonsending an electronic message falsely claiming to be a legitimate business for the purpose of gaining personal or financial information
- 21** Pop - Ups ** Brandon Keetona new web browser window that displays advertisements
- 22** Predatory Practices ** Brandon Keetonwhen 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
- 23** Redress ** Brandon Keetonmoney or other benefits that a consumer receives as fair compensation for a company’s mistake for remedy for wrong or loss
- 24** Renter's Insurance ** Brandon KeetonA 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
- 25** Rewards ** Brandon KeetonItems or perks that are earned by your purchasing history
- 26** SPAM ** Brandon Keetonadvertising messages received over e-mail or electronic messaging system that is unwanted
- 27** Testimonials ** Brandon Keetonstories told by happy consumers about a product or service that may influence others
- 28** Utilities ** Brandon Keetoncost of running a home either rented or owned. Examples include: electricity, water, gas, and trash.
