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Bob Moritz
Marshfield Clinic Research Foundation

guarantee

How much a customer believes that a particular online retailer manages product returns and guarantees in an acceptable manner is measured with three, five-point Likert-type items.

The scale is composed of three, seven-point items intended to measure the suitability of stating the warranty for a class of products in a particular unit of time, e.g., days, weeks, years.

The degree to which a person believes that a store uses low-price guarantees to attract customers even though it does not have the lowest prices in the market area is measured with three, seven-point Likert-type items.

Three, seven-point Likert-type items measure the degree to which a consumer believes that retailers offering low price guarantees do so, in general, to assure shoppers that they will receive refunds if the store does not have the lowest prices in the market area.  A version of the scale phrased specifically for a certain retailer is also reviewed.

Three, seven-point Likert-type items are used in this scale to measure a consumer's belief that retailers offering low price guarantees do so, in general, because they truly have the lowest prices in the market area.  A version of the scale phrased specifically for a certain retailer is also reviewed.

Three, seven-point Likert-type items measure a customer's belief that a retailer has done something involving its price guarantee that misled and upset him/her.  Although not stated in the items themselves, the action could have been that the retailer did not end up having the lowest prices or that it did not appropriately refund the customer when lower prices were found elsewhere.

Four, seven-point items are used in this scale to measure the degree to which a consumer would be motivated to seek a refund from a store if it is learned that a product he/she bought there was cheaper elsewhere. The scale was called willingness to claim refund by Kukar-Kinney and Grewal (2007).

This four item, seven-point Likert-type scale is intended to measure what a customer focuses on after a store pays him/her a refund as part of its low price guarantee (LPG). Specifically, the scale measures the degree to which a customer focuses on the "information" function of a LPG, such that the LPG is a signal to consumers about the location of a retailer's price point among those in the market.

Three, seven-point Likert-type items are used to measure what a customer focuses on after a store pays him/her a refund as part of its low price guarantee (LPG). Specifically, the scale measures the extent that a customer focuses on the part of the LPG that signals consumers that they will be monetarily compensated if a lower price is found for the same product.

Three, seven-point statements are used to measure a consumer's attitude regarding the monetary costs a company will incur if it has high prices. In the study by Srivastava and Lurie (2004), the "costs" referred to a price matching guarantee that was described in a scenario that subjects read before completing the scale.