Durable Goods Flashcards

Flashcards covering vocabulary related to durable goods, warranties, and finance packages.

Durable Goods

Products that are designed to last a long time and are used repeatedly within an extended period of time.

Warranties and Guarantees

Assurance that a product will last long and function properly, building trust and reducing perceived risk.

Finance Packages

Options such as installment plans, interest-free credit, and zero percent finance that make durable goods more accessible to customers.

Installment Plans

A type of finance package where customers pay monthly installments over a set period.

Extensive Decision Making

Process where customers spend time comparing options because they are more price sensitive to durable goods.

Price Sensitivity

The degree to which customers' purchasing decisions are affected by the price of a product.

Manufacturing Defects

Imperfections in the product originating from manufacturing, often covered by warranties.