Final answer:
In the goods market, sellers assure buyers of product quality through money-back guarantees and other explicit reassurances, as well as their reputation.
Step-by-step explanation:
In the goods market, the seller might offer a money-back guarantee, an agreement that functions as a promise of quality. This strategy may be especially important for a company that sells goods through mail-order catalogs or over the web, whose customers cannot see the actual products, because it encourages people to buy something even if they are not certain they want to keep it.
Guarantees, warranties, and service contracts are examples of explicit reassurance that sellers provide. In many cases, firms also offer unstated guarantees. For example, some movie theaters might refund the ticket cost to a customer who walks out complaining about the show.
Likewise, while restaurants do not generally advertise a money-back guarantee or exchange policies, many restaurants allow customers to exchange one dish for another or reduce the price of the bill if the customer is not satisfied.
Buyers and sellers in the goods market rely on reputation as well as guarantees, warrantees, and service contracts to assure product quality.