refund

Vocabulary Word

Definition

'Refund' is when you return something you bought and get your money back. Imagine sending back a shirt you ordered online because it doesn't fit, and the company sends you back your money.

Examples in Different Contexts

In nonprofit organizations, a 'refund' can refer to the return of donation under specific circumstances. A fundraising manager might say, 'While our refund policy is restrictive, we strive to address donor concerns with transparency and responsiveness to maintain trust.'

Practice Scenarios

Business

Scenario:

The customer wasn't satisfied with the product's quality. What options do we have to make it right?

Response:

Let's process a full refund and send them a complimentary apology note.

Creative

Scenario:

Unfortunately, the main act for our festival has pulled out. We now need an alternate plan to manage disappointed fans.

Response:

Let's offer refunds to ticket holders, and perhaps, a discount for our next event.