An extended warranty is a type of warrant that is normally prolonged and is usually given in addition to the already given warrant. The extended warrants are given once one purchases new products bought from a wholesaler, administrator or even from a retailer. The extended warranties are however more expensive since they will be used for longer periods of time. The buyer utilizes the original warranty first before they start using the extended warranty. For example, if an item has been given a four-year warrant for a certain item an extended warranty of one year, they are required to utilize the warrant of the four years before they can start using the one year extended warranty.
The extended warranties normally have different terms and conditions as compared to those found in the normal warranties. This means that there are things that an extended warranty will not cover and they may be covered by the normal warranty. Having an extended warranty for the products you purchase is of great benefit especially if the products are delicate. The clients prefer sellers who offer extended warranty and they are likely to remain loyal to them. They will trust them and remain loyal to them since the customers have the confidence that the company has their interests at heart.
Companies offering extended warranties are able to attract more customers as compared to those offering normal warranties. Customers love companies that go an extra mile in ensuring that their needs are met. There is also an improved relationship between the buyer and the seller which makes the client keep going back to the company. This increases the number of sales which interprets to more profits. The company will, therefore, be able to invest in providing better services to its clients. Find more info here.
Another benefit that comes with having extended warranties is that your company will have improved customer satisfaction index. A satisfied client will always give positive reviews for your company. This will help in attracting more customers to your business as a result of the reviews. The customers also refer other clients to you whenever you sell them quality goods. Learn more about appliance extended warranty here.
They will feel confident to refer their friends to you which increases the number of clients and in return grow your business. It is therefore important to ensure that your company offers extended warranties as it is a strategy of attracting more customers as well as ensuring that they remain loyal to your company. Read more here : https://www.britannica.com/topic/warranty.
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