Chapter 7 -The Consumer Flashcards Preview

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Flashcards in Chapter 7 -The Consumer Deck (43):
1

What is a good ?

Physical
You can touch them

2

What is a service ?

Provided to us by others
Not physical objects

3

What does a wise consumer ask them self ?

Do I need the item ?
Can I afford it ?
Is it good value for money ?
Have I checked prices elsewhere ?
They ask for proof of purchase

4

What does ' do I need the item ' mean ?

You may already have the item which may be in perfect condition. Ask yourself, do you really need the item or do you just want it.

5

Can I afford it ?

Will it affect your budget ?
Will you have to do without something else that you really need ?

6

Is it value for money ?

E.g
A 10 kilogram bag of potatoes costs €10 which means every kilo is worth €1, but a 2 kilogram bag of potatoes costs €1.50 where each kilo is sold at 75 cents. The smaller bag is therefore better value for money.

7

Proof of purchase ?

Example : receipt
Keep it safe
You will need it to return an item

8

What is a receipt ?

Example of proof of purchase
Essential if you need to return an item

9

What does a formal receipt show ?

1. Date of payment
2. Amount paid
3. Name of person paying the money
4. Signature of person to whom the money was paid
5. Receipt number

10

What is the opposite to a wise consumer ?

Impulse buyer

11

What do they not do ?

Does not ask themselves if they can afford the product or if they really need the product and does not shop around

12

What does a impulse buyer do ?

They buy on the spur of the moment

13

What can this lead to ?

It can lead to financial difficulties or the person not being able to afford what they really need

14

What is a brand name ?

A unique name given to a product which distinguishes it from similar products made by other companies

15

What is a symbol ?

Also called logos. A unique image on a product that distinguishes it from other products produced by different companies

16

What should labels include ?

Name of product sold
Ingredients
Net quantity of the product
Use by date
Storage conditions

17

What is a barcode ?

A series of lines and numbers on a product
Used for stock control

18

What is a loss leader ?

Offering products at very low prices in order to attract customers into a shop

19

Why do this ?

To get customers to buy other products in the shop that are highly profitable
The low priced products = loss leaders

20

What is a contract ?

A contract is a legally binding agreement that is enforced by law

21

What is an offer ?

Made by one person to another. The offer can be money or another thing of value in exchange for performance by the other person in the contract

22

What is acceptance ?

The person in the contract who the offer is being made to accepts it

23

What is consideration ?

Consideration is something of value given by one party of a contract in return for the promises of the other person in a contract

24

What are the two consumer laws ?

Sale of goods and supply of services act 1980
Consumer protection act 2007

25

What should goods and services be ?

Merchantable quality
Fit for their purpose
As described
Correspond to sample
Suppliers of services must be qualified

26

What are the three forms of redress ?

Repair
Refund
Replacement

27

What happens if you wait to long before you return ?

If consumer waits too long before returning the item or if they do not have proof of purchase, it will affect resolution offered to them

28

What is a replacement ?

Similar product or the same product is given in the place of the faulty one.

29

What is a repair ?

The product is repaired to the same condition that it was before the fault occurred. It is fixed

30

What is a credit note ?

A voucher for the consumer to spend in the shop where they bought the faulty good.
It is restricted to that shop only
Not a refund and not a form of redress if it was a faulty good
If you change your mind about the product

31

What signs or statements are not aloud to be put up in retail shops ?

No refunds
No refund on sale items
Credit notes only on returns
The retailer should qualify those words with GUARANTEES AND WARRANTIES

32

What do guarantees and warranties do ?

Add to the consumers rights but do not replace the retailers responsibilities under consumer law
Consumer rights do not end when a warranty runs out, oft the goods would reasonably be expected to last beyond the warranty period

33

When did the C.P.A come into affect ?

It came into affect May 1st 2007

34

What is a consumer ?

Consumers buy goods for their personal use.

35

What are the three offences in the C.P.A ?

To make a false misleading claim about them-self
To sell goods that have a false or misleading description
To not give a product vital information

36

Misleading claims about goods ?

Weight
Performance
Ingredients

37

Misleading claims about prices ?

Prices must be stated truthfully

38

Claims about services must be accurate

The manner, place or time in which a service is provided and claims about the effect of a service must be true

39

Misleading practices

A practice is misleading if it contains false or untruthful information or deceives the consumer.

40

Aggressive practices

Means the use of harassment or unfair behaviour to a consumer

41

Prohibited practises

E.g
Telling a consumer they have won a prize where payment is required in order to claim that prize

42

What does the national consumer agency do ?

Inform consumers of their rights through consumer information
Promotes consumer education and awareness
Helps businesses comply with consumer law through enforcement activities
Conduct consumer rights information campaigns
Prepare and publish guidelines for traders
Carry out research into areas of consumer interest

43

What do the national consumer agency have power to ?

Advise and make recommendations on consumer legislation
To propose new legislation
To appoint officers to ensure legislation is complied with