Unit 3

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

Next up

Description

Resource summary

Similar

	Created by sethmledford about 9 years ago