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The Third Restatement of the Law, Torts: Products Liability §2(b) [1] favors the risk-utility test over the Second Restatement of the Law, Torts §402(a), which favored the consumer expectations test. §2(b) states, in part, "A product is defective when, at the time of sale or distribution...is defective in design. A product is defective in ...
In the United States, various abuses using the return process allegedly cost retailers more than $9 billion annually. [9] One common practice is the use of the system in order to "borrow" the merchandise at no charge. The customer who engages in this practice purchases the item for temporary use, then returns it when finished.
Wholesale Price Index (WPI) WPI first published in 1902, and was one of the more economic indicators available to policy makers until it was replaced by most developed countries by the Consumer Price Index in the 1970s. WPI is the index that is used to measure the change in the average price level of goods traded in wholesale market.
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Customer attrition, also known as customer churn, customer turnover, or customer defection, is the loss of clients or customers.. Companies often use customer attrition analysis and customer attrition rates as one of their key business metrics (along with cash flow, EBITDA, etc.) because the cost of retaining an existing customer is far less than the cost of acquiring a new one. [1]
Note that DPMO differs from reporting defective parts per million (PPM) in that it comprehends the possibility that a unit under inspection may be found to have multiple defects of the same type or may have multiple types of defects.
A transparent returns policy, with a 14-day "cooling-off" period. Secure, insured shipping. A clearly explained cosmetic grade (also referred to as the device's "condition"). Basic accessories (such as a USB charging cable). Optional upgrades (such as replacing a partially used battery with a brand-new one).
The field of law that addresses injuries caused by defective products is called product liability. A wide range of circumstances can render a product defective. The product may have a design defect or design flaw , resulting from the product having been poorly designed or tested , so that the design itself yields a product that can not perform ...