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The main difference between customer and consumer is that a customer purchases goods while a consumer uses or consumes goods.
Customer vs. Consumer
The customer, which refers to a person who buys the goods and pays the expense for it whereas the consumer is the one who expend the goods, i.e., the user of the goods. A customer is someone who buys the commodities for more commercial purposes whereas a consumer is someone who actually consumes the commodities and not just purchases it. A customer is a single home or an entire organization that buys the goods from another person or business while a consumer is an entity that buys the goods from the customer. The semester Customer used by businesses refers to individuals or households that purchase and repeatedly use goods and services generated by the economy, on the other hand, the session consumer refers to individuals or family that purchase and utility commodities and services generated by the economy and tends to be used by economists. Customer means who purchases the product from the trader or the retailer or the wholesaler, here we don’t bother who uses the product roughly on the other hand consumer means who uses the product of course purchased by the customer, here we consider that who is departing to use the product we cry them as a consumer.
What is Customer?
Customers prescribed by their purchase of goods or their consumption for services. He pays for getting the product. A customer is a recipient of goods, service, product or an intention obtained from a seller, vendor or supplier via a financial activity or transaction for money or some other valuable deliberation. The customers are beheld as the king, in every business because they help in earning revenue. Customers divided into two categories:
- Trade Customers: The customers who purchase goods to add value and resell them. This consist of Manufacturers, Wholesalers, Distributors, seller, etc
- Final Customer: They are the client who bargains it either for their use or to hand over it to the final user.
A customer is a separate or business that buys the goods or services produced by a trade. Fascinating customers is the primary goal of most public-facing businesses because it is the customer who creates demand for goods and services. In businesses, Customers categorizes into two classes:
- An external customer of a grouping is a customer who is not first off connected to that organization.
- An internal customer is directly connected to a grouping and is usually internal to the business. Internal customers are usually associates, employees or shareholders.
What is the Consumer?
A consumer is a person or business that uses economic services or commodities. A consumer is a user of goods. The word consumer contrived from the word ‘consume’ which means ‘to use.’ Everyone who performs in the economy is a consumer of goods. It includes the person who accounts the services for any consideration. Any type of buyer, other than the buyer who assets goods, consumes the goods by taking acceptance of the buyer will also come under the category of Consumer. Consumers play an imperative role in the economic system of a nation. Without consumer demand, producers would lack one of the key motivations to produce: to sell to consumers. In the marketplace, consumers are people or monetary entities that purchase or hire products. They do this for personal use. In other words, they do not buy them for manufacture or resale. ‘consumer’ has a broader, meaning to include those who use a product or commodity for a living. Consumers are the basic economic entities of an economy. All consumers consume goods and services directly and indirectly to maximize satisfaction and utility. They are the end users in the distribution chain of goods and services.
- A customer assets goods; a consumer uses
- A customer – purchases and compensate for a product or service. A consumer is the ultimate user of the product or service.
- The customer can be a singular or a business entity while a Consumer can be an individual or an understory or a group of people.
- The customer purchases the goods for resale or to add value or for his personal use or on account of another person in contrast to Consumer, who purchases the goods for consumption only.
- Customers are very dependent on each other, but consumers are not reliant on each other.
- Customers sell the items that they bought from the other company or business whereas consumers do not sell on that item that they bought.
Ventures must focus on the two as they should take care of what is ordered of the product by the consumer, as well as they should endorse the product so well that it will take the attention of the millions of customers instantly. The buying decision is taken by the two together or by keeping given the other. So, companies should give equal attention to both. Customer and consumer satisfaction does have a positive effect on an organization’s profitability, A lack of customer and consumer satisfaction modeling and the nonexistence of a well-defined questionnaire could hurt the development of the sustainable and recurring business.