Final answer:
Companies lacking a manual for product warranties should create one detailing the terms and conditions, make it accessible, train staff, communicate openly with customers, and establish an interim system for warranty claims. Service contracts should also be included in the information provided. These steps are crucial for ensuring customer trust and satisfaction.
Step-by-step explanation:
If a company lacks a manual describing major product warranties, several steps should be undertaken to address the situation. First, the company should develop a comprehensive manual that covers all aspects of their warranties, including the terms, the duration, and the process for claiming a warranty service.
The manual should detail not only the warranties but also any service contracts that the company offers, which provide a paid extension of protection beyond the standard warranty period. Such contracts are especially common with significant purchases like cars, appliances, and houses.
Once the manual is created, the company should make it readily accessible to customers, both at the point of sale and through their website. Training staff on the warranty and service contract terms is also critical so they can adequately inform and reassure customers. Clear communication is essential for building trust with the buyer, especially when they may possess imperfect information about the product or services.
Finally, to address any immediate concerns, the company could issue a public statement or send notifications to customers explaining the current lack of a warranty manual and outline the steps being taken to rectify this oversight. A system for addressing warranty claims in the interim can also help maintain customer confidence in the company's commitment to their satisfaction.