A warranty is a promise about a product or service made by either a manufacturer or a seller.
Many times a warranty is a written assurance that some product or service will be provided or will meet certain specifications. A promise that what is delivered is as stated in the original agreement.
A warranty can be an implied warranty. A guarantee about the quality of goods or services purchased that is not written down or explicitly spoken.
Virtually everything you sell comes with two implied warranties. One for "merchantability" and one for "fitness." The implied warranty of merchantability is an assurance that a new item will work for its specified purpose.
The item doesn't have to work wonderfully, and if you use it for something it wasn't designed for, say trimming shrubs with an electric carving knife, the warranty doesn't apply. The implied warranty of fitness applies when you buy an item for a specific purpose.
If you, as the seller are told of your clients specific needs, the item is guaranteed to meet them.
For example, if you buy new tires for your SUV after telling the store clerk that you plan to use them for off road travel and the tires puncture when you pass over a small rock, the tires don't conform to the warranty of fitness.
Warranties, guarantees and rebates are all part of your marketing plans and you might think about adding them in any business plan you create. In fact add then to your makreting plan now while you are thinking about them.
\The term "limited warranty" is combative—an oxymoron dreamed up by scared lawyers covering the butts of their insecure clients. Either you offer a warranty, or you don’t.
If you see the term "limited warranty," the real message is, "You’re taking one hell of a chance doing business with us!"
What are you doing to make it easier to make a buying decision.
My recommendation: Offer the strongest possible warranties or guarantees and you'll sell a lot more of your products, services and ideas.