Refused to exchange a faulty product

I bought a step ladder at the East Rand Mall, but normally shop at the Northmead Mall I returned the faulty product this morning at the Northmead mall PnP, while doing my shopping. I had to wait about 15 minutes after waited 10 minutes for front staff to help me, just to hear from the manager he is not going to replace the product, as he is going to lose money, I must return it, where I bought it, he hopes I understand. I told him i do not understand, why does he hang a return policy from his roof that says I can exchange my goods? I told him it is not acceptable, he just said sorry and walked off to his office. What if I bought the ladder in Cape Town and when I tried to use it here realised it was faulty? I would have just lost my money? And now I will HAVE to go to East Rand Mall, even though i come there very seldom?!?! Very annoyed!