It simply assures its customers that if they are not satisfied with a product or a service, a refund of the money they have paid for it. Guarantees offered are of two types: Product Guarantee and Service Guarantee. Money back guarantees are often given for a fixed period of time since the date of purchase. These guarantees increases the confidence of a customer while making a purchase of a specific product, service, brand or making purchase from a specific retailer.
Money back guarantees can be given by a brand or its parent company, or/and by a retailer.