4901254
Description
Flashcards by blackburn.sammi, updated more than 1 year ago
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Created by blackburn.sammi
over 8 years ago
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| Question | Answer |
| Bait and Switch S.B. | 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 S.B. | Trend that gains popularity and demand of products |
| Better Business Bureau S.B. | 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 S.B. | 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 S.B. | A pricing plan that combines two or more utilities that offers savings for the consumer (i.e. cable + internet + phone with same company) |
| Commerce S.B. | agency to further the interest of the local business |
| Conserve S.B. | to save or reduce |
| Cost per Wear/Use S.B. | 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 | Advertising through the use of unsolicited texts, emails, and banners on web pages |
| Energy Guide Label S.B. | Yellow sticker, required by law, which allows a consumer to compare the yearly cost to operate an appliance. |
| Energy Star Label S.B. | government backed green and blue logo that shows outstanding energy efficiency. |
| Extended Warranty S.B. | A warranty that is purchased and extends beyond the basic warranty usually giving more time and more coverage. |
| Federal Trade Commission S.B. | is an independent agency of the United States government, with a mission to promote consumer protection and eliminate and prevent monopolies. |
| Food & Drug Commission S.B. | Food and Drug Administration – responsible for protecting the health of the public in the following areas: food, drugs, medical devices, cosmetics, tobacco, animal products |
| Full Warranty S.B. | 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 S.B. | 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 S.B. | A warranty that is not written but is implied that a product sold functions as it is intended |
| Limited Warranty S.B. | A warranty that covers part of a product but not all. Example: might cover parts but not labor. |
| Loss Leader S.B. | A product or service sold at a substantial discount in order to generate additional sales |
| Phishing S.B. | sending an electronic message falsely claiming to be a legitimate business for the purpose of gaining personal or financial information |
| Pop-Ups S.B. | a new web browser window that displays advertisements |
| Predatory practicing/ lending S.B. | 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 S.B. | 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 S.B. | 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 S.B. | Items or perks that are earned by your purchasing history |
| SPAM S.B. | Advertising messages received over e-mail or electronic messaging system that is unwanted |
| Testimonials S.B. | Stories told by happy consumers about a product or service that may influence others |
| Utilities S.B. | Cost of running a home either rented or owned. Examples include: electricity, water, gas, and trash. |
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