Final answer:
A seller can reassure buyers by offering a money-back guarantee, warranties, and service contracts, which serve as promises of quality and after-sale support. These strategies can be particularly effective in online and mail-order sales, where customers rely on imperfect information.
Step-by-step explanation:
In the goods market, a seller can provide reassurance to potential buyers by offering a money-back guarantee, serving as a commitment to product quality. This is particularly beneficial for scenarios involving imperfect information, such as online shopping or mail-order purchases where customers cannot physically examine the products before buying. Such a guarantee encourages consumers to move forward with a purchase, mitigating uncertainty about the product's quality.
Moreover, sellers may reinforce buyer confidence through warranties and service contracts. These explicit reassurances signal to consumers that the seller stands behind their products, and any issues that arise may be addressed through these agreements. In many instances, businesses offer implicit guarantees as well—such as movie theaters providing refunds for dissatisfied customers, or restaurants allowing a meal exchange or price adjustment if a diner is not content with their order—despite not advertising formal policies.