Who is a consumer?
A consumer is the one who purchases the product for his/her own need and uses or consumes it. A consumer cannot resell the good, product or service but can consume it to earn his/her livelihood and self-employment.
Definition of consumer
The consumer is the one who is the end-user of any goods or services. Any person, other than the buyer who buys the product or services, and consumes the product by taking his/her permission is categorized as a consumer. Any single or group of people, other than the buyer who buys the product or services, consumes the product by seeking his/her permission falls under the category of a consumer. In simpler words, the consumer can be termed as the end-user of the goods or services.
Types of consumer
A service or product-producing firm has to identify and classify the different types of consumers when they target them with its product to gain profits. Listed below are the different types of consumers
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