______are firms' promises to repair a defective product, refund money paid, or replace a product if it proves unsatisfactory to customers.

Question

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Warranties are specifically designed to assure customers that the company stands behind its products and will take responsibility for any defects or issues that may arise. This helps to build trust and confidence in the company, and encourages customers to make purchases knowing that they are protected. Discounts, promotions, and quality of service are all important factors in building customer loyalty, but they do not offer the same level of assurance as warranties.

______Are Firms' Promises to Repair a Defective Product, Refund Money