Consumer - Term Overview

Home | Blog | Consumer - Term Overview

The consumer concept refers to the organization or individual who consumes goods or services that suppliers and manufacturers make available to them in the market with the purpose of satisfying any of their needs. It's the last step in the production process, specifically the end customer.

In economic terms, the consumer is the figure that provides its resources, usually money, in exchange for obtaining said goods or services. Through these transactions, he hopes to meet some need. Its existence would not be possible without the presence of the producers, who are in charge of putting the services and sales up for sale.

There are several streams to study the behavior of end customers. The most logical thing is that the consumer chooses to adopt a rational position, where he spends his money with the intention of maximizing the reward he gets with the purchase. This reward can be obtaining pleasure, fulfilling a desire, satisfying a need, etc.

However, the concept of consumer has changed considerably in recent years due to the great influence of new technologies and their use in the field of economics. The result is a major change in consumer behavior, who sometimes end up making impulsive and more irrational purchases. Advertising and marketing also play an important role in this, which ends up having a great impact on the purchasing process.

There are two factors that affect the consumer when going to the market:

  • Tastes or preferences: each person knows what their concerns and needs are, so they will select those elements that best meet those demands.
  • The income capacity: the purchasing power and income level of each person also influences the purchasing process. The more money you have, the more purchases you can make.

Read more articles in our blog.
Share on Facebook Share on Twitter Share on LinkedIn
Back to top

Home | Privacy Policy | Terms of Use

Copyright 2011 - 2020 - All Rights Reserved