Difference between revisions of "Warranty"
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[[Warranty]] is a promise to fix or replace the good, at least for a certain period of time. | [[Warranty]] is a promise to fix or replace the good, at least for a certain period of time. | ||
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==Definitions== | ==Definitions== | ||
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According to [[Marketing Management by Keller and Kotler (15th edition)]], | According to [[Marketing Management by Keller and Kotler (15th edition)]], | ||
:[[Warranty]]. Formal statement of expected product performance by the manufacturer. | :[[Warranty]]. Formal statement of expected product performance by the manufacturer. | ||
| + | According to the [[ITIL Foundation 4e by Axelos]], | ||
| + | :[[Warranty]]. Assurance that a product or service will meet agreed requirements. Warranty can be summarized as ‘how the service performs' and can be used to determine whether a service is ‘fit for use'. Warranty often relates to service levels aligned with the needs of service consumers. This may be based on a formal agreement, or it may be a marketing message or brand image. Warranty typically addresses such areas as the availability of the service, its capacity, levels of security, and continuity. A service may be said to provide acceptable assurance, or 'warranty', if all defined and agreed conditions are met. | ||
| − | + | [[Category: Information Technology]][[Category:Marketing Management]][[Category: Economics]][[Category: Articles]] | |
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| − | [[Category:Marketing Management]][[Category: Economics]][[Category: Articles]] | ||
Revision as of 18:24, 11 December 2020
Warranty is a promise to fix or replace the good, at least for a certain period of time.
Definitions
According to Principles of Economics by Timothy Taylor (3rd edition),
- Warranty. A promise to fix or replace the good, at least for a certain period of time.
According to Marketing Management by Keller and Kotler (15th edition),
- Warranty. Formal statement of expected product performance by the manufacturer.
According to the ITIL Foundation 4e by Axelos,
- Warranty. Assurance that a product or service will meet agreed requirements. Warranty can be summarized as ‘how the service performs' and can be used to determine whether a service is ‘fit for use'. Warranty often relates to service levels aligned with the needs of service consumers. This may be based on a formal agreement, or it may be a marketing message or brand image. Warranty typically addresses such areas as the availability of the service, its capacity, levels of security, and continuity. A service may be said to provide acceptable assurance, or 'warranty', if all defined and agreed conditions are met.
