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Business Studies > Consumer > Flashcards

Flashcards in Consumer Deck (24):
1

A brand

The identity of a particular product. It usually refers to the manufacturer

2

False economy

A situation where we buy something that costs less at the time but turns out to be more expensive in the long run

3

Sales of goods and supply of services act 1980

The product must be
1) merchantable quality
2) fit for the service intended
3) the same as the description
4) same as the sample shown
5) when services are supplied, the person must have the necessary skills, do the job properly and use good materials

4

Redress

All forms of compensation for the consumer who has bought faulty goods or received poor service

5

Forms of redress

Refund
Repair
Replacement
Credit note

6

You are not entitled to redress if

- you don't return within a reasonable time frame
- you just "change you mind"
- you cause the fault yourself
- goods are clearly marked as seconds or damaged

7

Guarantee

A promise from the manufacturer to offer a refund or replacement to the consumer who has bought faulty goods

8

Warranty

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

9

Should be included with a guarantee and warranty

- The name and address of the person offering the guarantee or warranty
- The length of time the guarantee or warranty is for

10

Credit note

A voucher given by the retailer to the consumer for the value of the goods returned. We can then buy goods equal to that value.

11

The National consumer agency

A) investigate complaints
B) provide information about rights
C) make sure products sold in Ireland are safe

12

The consumer Association of Ireland

A) help the consumer know their rights
B) help government plan new consumer laws
C) produces magazine called the "consumer choice"

13

Consumer advice programs

Watchdog- on BBC
Rogue traders on BBC
Q102 consumer advice show
Buyer beware on RTÉ
Show me the money on RTÉ

14

Barcode

A small rectangle containing black and white lines and figures found on the packaging of most products

15

Bar code contains

Product name
Price
Weight
Country of origin

16

Advantages of barcodes

- fewer mistakes
- it saves time, as there is no need to individually price each item

17

Disadvantages of barcodes

- The system is expensive to install
- shops may require fewer staff which may lead to redundancies

18

Receipts

The receipt is written proof to the consumer that they have purchased and paid for a particular item

19

Information on a receipt

- the date
- the time
- name of the shop
- The amount of money handed in, and any change given in return
- The name of the product purchased

20

Below cost to selling

This is when shops sell proper products very cheaply in order to attract consumers

21

Loss leader

Product sold at below cost prices to attract consumers and the shop is referred to as loss leaders

22

Online consumer

Online consumers have the same rights under the law as usual consumers

23

Consumer

Anyone who buys goods or services for their own use

24

Trade associations

An organisation that represents all the firms that sell a particular product or service