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Consumer
JC Business 1.7
| Term | Definition |
|---|---|
| Consumer | A person who buys goods and services. |
| Branding | A name, symbol, design or other feature that makes it easy to recognise from the competition. |
| False Economy | Buying something because it is cheap even when you don’t need it, or something that looks cheap and ends up being more expensive. |
| Ethical Shopper | Someone who thinks about the environment and people in society when buying goods or services. |
| Merchantable Quality | All goods must be of reasonable standard taking into account the price and what they are meant to do. |
| Fit for Purpose | The goods should do what they are supposed to do, as agreed with the seller before buying. |
| Contract | A legally binding agreement between two or more parties. |
| Guarantee | Is the legal promise from the manufacturer to offer a refund or repair or replacement if the product you purchase is faulty. |
| Warranty | An additional promise beyond a guarantee to repair or replace a faulty product. |
| The 3 'Rs' | Refund, repair, replacement |
| Caveat Emptor | Let the buyer beware. |
| Consumer Complaint | Where a consumer expresses their dissatisfaction with the goods or services received and seeks compensation. |
| CCPC | Competition and Consumer Protection Comission |
Created by:
Dinneenj
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