Flashcards in Chapter 7 -The Consumer Deck (43):
What is a good ?
You can touch them
What is a service ?
Provided to us by others
Not physical objects
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
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.
Can I afford it ?
Will it affect your budget ?
Will you have to do without something else that you really need ?
Is it value for money ?
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.
Proof of purchase ?
Example : receipt
Keep it safe
You will need it to return an item
What is a receipt ?
Example of proof of purchase
Essential if you need to return an item
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
What is the opposite to a wise consumer ?
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
What does a impulse buyer do ?
They buy on the spur of the moment
What can this lead to ?
It can lead to financial difficulties or the person not being able to afford what they really need
What is a brand name ?
A unique name given to a product which distinguishes it from similar products made by other companies
What is a symbol ?
Also called logos. A unique image on a product that distinguishes it from other products produced by different companies
What should labels include ?
Name of product sold
Net quantity of the product
Use by date
What is a barcode ?
A series of lines and numbers on a product
Used for stock control
What is a loss leader ?
Offering products at very low prices in order to attract customers into a shop
Why do this ?
To get customers to buy other products in the shop that are highly profitable
The low priced products = loss leaders
What is a contract ?
A contract is a legally binding agreement that is enforced by law
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
What is acceptance ?
The person in the contract who the offer is being made to accepts it
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
What are the two consumer laws ?
Sale of goods and supply of services act 1980
Consumer protection act 2007
What should goods and services be ?
Fit for their purpose
Correspond to sample
Suppliers of services must be qualified
What are the three forms of redress ?
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
What is a replacement ?
Similar product or the same product is given in the place of the faulty one.
What is a repair ?
The product is repaired to the same condition that it was before the fault occurred. It is fixed
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
What signs or statements are not aloud to be put up in retail shops ?
No refund on sale items
Credit notes only on returns
The retailer should qualify those words with GUARANTEES AND WARRANTIES
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
When did the C.P.A come into affect ?
It came into affect May 1st 2007
What is a consumer ?
Consumers buy goods for their personal use.
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
Misleading claims about goods ?
Misleading claims about prices ?
Prices must be stated truthfully
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
A practice is misleading if it contains false or untruthful information or deceives the consumer.
Means the use of harassment or unfair behaviour to a consumer
Telling a consumer they have won a prize where payment is required in order to claim that prize
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