Lowes
Extended protection plans
-$0-200 price band on major appliances -All major appliances are now eligible for an extended protection plan
Replacement plans
-Offered on products up to $299.99 except major appliances (was 199.99) -Now includes Preventative Maintenance benefit
LPP 2.0 Benefit (Lowes Protection Plans)
-Payback Reward -Preventative Maintenance -Food Loss -Repair Quick -No Lemon -Re-installation -Replacement plan
New (10/27/16 and after)
-Payback reward- 30% back on plan price* -Preventative Maintenance- 50% most products -Food Loss- up to 300$ all MAJAP Plans -Repair quick- $50 for all Products** -No lemon- 4th repair, Life of plan -Re-installation- Extended to all MAJAP Plans -Replacement plan- Less than $300
Old (before 10/27/16) (Lowes Protection plan)
-Payback reward- Not offered -Preventative Maintenance- 35%OPE-35% Appliances - Food Loss- up to $150/$250 (3yr/5yr) -Repair Quick- $25 Limited to laundry only - No Lemon- 4th repair within 12 months and must be same repair -Re-installation- Limited to 5 year plans Replacement plans- Less than $200
*
Applies to major appliance plans only. Customer will receive this benefit if they have not had any service claims during their plan term. Preventative maintenance claims( water filters, afresh) do NOT count as a service claim
Where are my pocket cards?
At this time we are no longer providing pocket cards through spend management. Please use the brochures to see plan pricing; and allow the prompts to add the plans
What is Pay Back Reward?
Lowes will reinburse the customer 30% of the price of the plan if the customer had not had any service claims upon expiration of their plan. This only applies to major appliances. Customers will need to call our contact center (1-888-77-LOWES) within 60 days with the end of their contract plan to claim their 30% of their original plan price benefit.
Why did we raise prices?
Most of our competitors raised prices 2 years ago to account for rising service repair costs. Our new prices put us in line with our competitors while still remaining highly competitive on price and in addition we've added benefits that NONE of our competitors offer.
Why did we do this just before black november?
November represents great sales opportunities for our customers and we wanted to make sure we were able to provide the value not just in our pries and products but also in our benefits.
How do your plans compare to Home depot now?
Our prices and benefits are still better than home depot. A competitor comparison sheet is now on connections
I couldn't sell these before, how am i supposed to sell these now if you raised the price?
The price increases is so small in comparison to our enhanced benefits as well as our new benefits. Our plans offer benefits that other retailers do not offer as well as our pries are market competitor.
Why did you revise the replacement plan threshold to $300?
The value and benefit gives is fantastic and easier for us to sell. It also puts us on par with our competitors now customers purchasing prduts less than 300$ don't have to worry about future repairs. One call to service advantage and Lowes will send a merchandise credit. This will also cut back on our "out for repair" items (push mowers, power tools) Note that all major appliances now qualify for EPP regardless of price.
I got my brochure but I didn't get any new signs?
There are no new signs at this time. The current signage you have should stay in place at this time. We are looking into creating new signage for all stores due to overwhelming requests.
What's the difference between sure service guarantee and repair quick?
sure service guarantee was a benefit just for riding mowers and power tools. Repair quick is now a benefit for all EPP items. one time $50 payment will be made for any product that are not repaired within 14 days.
**
Excludes refrigerators and freezers. Customers should use the rental reimbursement for those products instead.
What is an eligible item doesn't prompt?
This process does not change. Follow StoreNet>Departments>Lowe's Protections Plans> Protection plan prompting>Incorrect EPP prompting notification form; to report items that should be prompted but arent.
Why did you get rid of all the brochures?
We now have one brochure that includes the terms and conditions. This replaces the ten we previously had throughout the store. Contact your store PSA to locate them.
Why were the item numbers changed? I had those all memorized and could hand key them in
With new benefits and prices for our plans we have to use new item numbers in order to prompt correctly and also to analyze risk. We also need to be able to have the differentiate older plans verses new plans to ensure the customers receive the best benefits.
Can a customer get the 50% preventative maintenance reinbursement benefit on items purchased the same day they are making the EPP purchase?
Yes!, Absolutely this would be a great best practice . Remind the customers to save their receipts and then contact our contact center for their 50% reimbursement on their preventative maintenance items.
Will this impact our sales and close rates?
Yes, absolutely. his should HELP your sales dollars as well as your close rates.
