A power strip is a block on the end of a power cable with a number of sockets (usually 3 or more), often arranged in a line. This term is also used to refer to the whole unit of a short extension cord terminating in a power strip.
Why Is It Important? Pricing is a key determinant in the decision making process customers use to purchase a product or service. It is important to establish how much your target market will pay for your product or service. Shows you how sensitive your customers are to changes in price.
These are some of the scenarios that customers go through daily. Consumer protection laws are meant to protect us against these types of issues. That is why it's important to familiarize ourselves with the more common consumer protection laws. Consumer Warranties and Service Contracts. Whenever you buy merchandise, it comes with a warranty. This is a guarantee that it will serve the purpose it was purchased for - in other words, it will work.