MANAGEMENT

Detailed explanation-1: -A satisfaction guarantee is a promise a brand makes to assure a buyer that a refund will be issued if the buyer is not satisfied with a product or service within a certain timeframe.

Detailed explanation-2: -A guarantee is a promise or assurance from the manufacturer or seller that the product will work as described or meet specific quality standards. If it doesn’t, the manufacturer will fix or replace it. Guarantees are of no cost to the buyer and can be offered for both products and services.

Detailed explanation-3: -A consumer guarantee is an automatic right given to consumers buying a product or service. By exchanging money for the product/service, consumers are entitled to a product/service that is safe and without fault, that looks acceptable and performs as expected.

Detailed explanation-4: -A great example of this type of customer satisfaction guarantee is Hannaford. They claim that you will love their product so much that if you don’t enjoy the product you purchased, they’ll double your refund back (much like Priceline, above): That’s a big deal for a grocery chain!

Detailed explanation-5: -What Is A Customer Satisfaction Guarantee? To put it simply, a Customer Satisfaction Guarantee is like a vote of confidence that organizations show in their products and services. So, if a product or service cannot satisfy a customer, the organization delivers on the guarantee made to them before purchase.