The seller may also offer a buyer a chance to buy a service contract, where the buyer pays an extra amount

and the seller agrees to fix anything that goes wrong for a set time period. Service contracts are often an option

for buyers of large purchases such as cars, appliances and even houses.

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.

The rationale for these policies is that firms want repeat customers, who in turn will recommend the business
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