Business - Consumer

Brand

The identity of a product

Receipt

Written proof to the consumer that they have purchased and paid for a good or service

Warranty

An additional promise by a manufacturer or seller to repair damaged goods within a stated period of time

Caveat Emptor

Let the buyer beware

Credit Note

A document given by a retailer to the consumer for the value of the goods returned. It entitles the consumer to buy other goods from the retailer equal in value to the goods returned

Guarantee

A promise from a manufacturer to offer a refund or replacement to consumers who purchased faulty goods

False Economy

A situation where a product appears to cost less then other brands, but is more expensive in the long run.

Bar Code

A small rectangle comprising of black and white lines and figures. They are found on packaging of most goods. They contain information about the product.

Consumer

Anyone who buys goods or services for their own use

Below Cost Selling

When shops sell popular products very cheaply, (below their cost price) to attract customers