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When making any purchase, big or small, consumers want the peace of mind that comes with having some sort of guarantee connected with the product. Consumers want to know that if they are not satisfied with the product, either because it is faulty or it just does not suite their need, they are not stuck. Many manufacturers and retail stores have instituted warranty or return policies to ensure that consumers are satisfied and continue to conduct business with them. There are many reasons why consumers? needs may not be met with a product. It could have been an impulse buy, it could be that they had a specific purpose in mind for the item and either circumstances or that purpose have changed (gifts are an example of this) or that the product is defective or broken either immediately or soon after being purchased.
When purchasing products, most stores will have a minimum of a fifteen day return policy. This means that within those fifteen days you are able to return your product for a full refund. Now, many stores have additional restrictions on this money back policy. First, you must have the receipt for the item. Second, if you use a credit card to make the purchase, you must have the card with you when you make the return. Third, most stores require that you have the original packaging for the item. In addition, some retail stores, ones that specialize in electronics for example may deduct a restocking fee if the items had been opened. This is because they will have to repackage items, and this costs them or their suppliers additional money. They want to ensure that the money back guarantee is not being abused by people who tend to shop on impulse, later to regret their choice. It is always best, and most convenient to try and go through the retail store for returns. Many retail stores have customer service counters that are set up specifically for returns and resolving issues. The clerks working at these counters are trained in how to process returns and exchanges and often times do some minor trouble shooting for the customer. Customers must understand though that these clerks may be trained to discourage returns, as this costs the stores money.
In the case that the store will not allow you to return the item you can go through the manufacturer. In addition to store return policies, many manufactures have a thirty day guarantee on their products. This means that if the products break or are unusable within thirty days of purchase, they can be either exchanged or returned to the manufacturer. In order to gain a good reputation and stay in business, manufacturers are responsible for producing quality products depending on the demand of the consumer.
Word of mouth is a highly important marketing tool. In order to save face when a product fails to uphold these standards, a money back guarantee may be offered. In addition to this option, many products offer a warranty that will last up to a year or two depending on the product. This assures the consumer that if there are issues with the product, service is provided to help trouble shoot and correct the errors. Sometimes there are service plans offered called extended warranties that the consumer can purchase in case they are expecting to need additional coverage. The benefit of these plans is that the cost of the service can be less than the cost of purchasing the product again. Extended warranties work similar to insurance plans.
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