Consumer is a broad label that refers to any individuals or households that use goods and services generated within the economy. The concept of a consumer is used in different contexts, so that the usage and significance of the term may vary.
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In economics and marketing
Typically when business people and economists talk of consumers they are talking about person as consumer, an aggregated commodity item with little individuality other than that expressed in the buy/not-buy decision. However there is a trend in marketing to individualize the concept. Instead of generating broad demographic profile and psycho graphic profiles of market segments, marketers are engaging in personalized marketing, permission marketing, and mass customization.[1]
In law and politics
Within law, the notion of consumer is primarily used in relation to consumer protection laws, and the definition of consumer is often restricted to living persons (i.e. not corporations or businesses) and excludes commercial users.[2] A typical legal rationale for protecting the consumer is based on the notion of policing market failures and inefficiencies, such as inequalities of bargaining power between a consumer and a business.[3] As of all potential voters are also consumers, consumer protection takes on a clear political significance.
Concern over the interests of consumers has also spawned much activism, as well as incorporation of consumer education into school curricula. There are also various non-profit publications, such as Consumer Reports and Choice Magazine, dedicated to assist in consumer education and decision making, and Consumer Direct in the UK.
In intelligence studies
Within intelligence studies, it refers to the political staff consuming and requesting intelligence.
References
- ^ Cross, Robert G. (1997). Revenue management: hard-core tactics for market domination. Broadway Books. pp. 66–71. ISBN 0-553-06734-6.
- ^ Krohn, Lauren (1995). Consumer protection and the law: a dictionary. ABC-CLIO. ISBN 0-87436-749-2.
- ^ "An Institutional Analysis of Consumer Law". Vanderbilt Journal of Transnational Law. http://law.vanderbilt.edu/journals/journal/35-01/overby.htm. Retrieved on 2007-01-29.
See also
| Wikibooks has a book on the topic of Category:Consumer |
- Alpha consumer
- Consumer debt
- Consumer theory
- Consumerism
- Consumers' cooperative
- ConsumerSearch
- Consumption
- Coolhunting
- Mass customization
- Mental health consumer
- Consumer reporting agency
- Consumer protection
- Consumer organization
- Consumer Direct
- National consumer agency
- Informed consumer
Categories: Economics terminology | Consumer theory | Marketing
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