________ are formal statements of expected product performance by the manufacturer.
A) Marketing statements
B) Reputation
C) Guarantees
D) Warranties
E) Insurance

Question

Quizplus · Accepted Answer

Warranties are formal statements made by the manufacturer or seller about the quality, reliability, and performance of the product sold to the consumers. They provide legal protection to the consumers in case the product fails to meet its stated performance expectations. It defines the conditions under which the manufacturer will repair or replace the product for free or refund the full purchase price. Guarantees, on the other hand, represent a promise made by the manufacturer or seller that the product will perform as advertised, and if not, they will take corrective action. Insurance is a financial product that protects against loss due to unforeseen circumstances. Marketing statements and reputation are not formal contracts or agreements that provide specific performance standards or legal protection to the consumers.

________ Are Formal Statements of Expected Product Performance by the Manufacturer