Final answer:
To reassure buyers faced with imperfect information, sellers can offer guarantees, warranties, service contracts, and even unstated guarantees such as money-back offers or exchanges. These assure the customer of the product's quality and reduce perceived risk, thereby encouraging purchase decisions. The correct option is 4.
Step-by-step explanation:
When dealing with imperfect information, a seller can provide reassurance to a potential buyer through several strategies. Guarantees, warranties, and service contracts are all forms of explicit reassurance that help convey trust and confidence in the product or service. For instance, a seller might offer a money-back guarantee which serves as a promise of quality, especially crucial when customers cannot physically examine the product, such as items sold online or through mail-order catalogs.
Additionally, firms often provide implicit reassurances. For example, if a customer is dissatisfied with a movie experience, some theaters may refund the price of the ticket. Similar unstated policies may exist in restaurants where dissatisfied customers are allowed to exchange meals or receive a discount.
These practices help encourage the guest in their decision to buy as they feel secure in knowing that the risk is minimized if the product or service does not meet their expectations.