Consumer Behaviour and Market Understanding

A consumer is the one who pays for and consumes goods or services, either for personal use or for organizational use.

Consumers play a vital role in the economic system of any country as the producers' motivation to produce goods is dependent on consumer demand.

The two categories of consumers mentioned are personal consumers and organizational consumers.

<p>The term 'end users' or 'ultimate consumers' refers to individuals who purchase goods for their personal use or household consumption.</p> Signup and view all the answers

<p>Consumer behaviour refers to the actions and decision processes of people who purchase goods and services for personal consumption.</p> Signup and view all the answers