Prospects for increasing the market share of longer lasting products in consumer durables markets
Product longevity provides a route to sustainable consumption because the material flow in the environment is reduced when products last longer. Thus, there is a need to increase the proportion of such products in consumer goods markets. Warranties provide remedies when consumers buy goods which turn out to be defective. Warranties also play a significant role in promoting product sales and improving customer satisfaction with after-sales service quality. Therefore, this paper uses evidence from a review of warranties to explore the role of marketing strategies in decreasing the material flow in the economy. A warranty that, in essence, promotes use of a product for a longer duration is described in five parameters. Companies for investigation were identified using a systematic process and information about manufacturers’ guarantees and warranties, together with other information that indicate product lifespans was collected using secondary research. The score of warranties on the parameters was considered as an indication of companies’ commitment towards longer lasting products. Counter to expectations, the data indicated that the price points at which companies operate, brand perception, and warranty terms and conditions may not be linked, and offering a warranty may not always mean that the company stands by its products, supports repair to promote use for longer duration.
Is Part Of
Published in: PLATE – Product lifetimes and the environment : 3rd PLATE Conference, September 18–20, 2019 Berlin, Germany, Universitätsverlag der TU Berlin
Published by ISBN 978-3-7983-3125-9