A consumer is a person or a group who intends to order, orders, or uses purchased goods, products, or services primarily for personal, social, family, household and similar needs, not directly related to entrepreneurial or business activities.
“Consumers, by definition, include us all," President John F. Kennedy offered his definition to the United States Congress on March 15, 1962. This speech became the basis for the creation of World Consumer Rights Day, now celebrated on March 15. In his speech, JFK outlined the integral responsibility to consumers from their respective governments to help exercise consumers' rights, including:
In an economy, a consumer buys goods or services primarily for consumption and not for resale or for commercial purposes. Consumers pay some amount of money (or equivalent) for something - goods or services - which they (or their families) then consume (use up). As such, consumers play a vital role in the economic system of a capitalist system and form a fundamental part of any economy. Without consumer demand, producers would lack one of the key motivations to produce: to sell to consumers. The consumer also forms one end of the chain of distribution.
Recently[when?] in marketing, instead of marketers generating broad demographic profiles and Fisio-graphic profiles of market segments, marketers have started to engage in personalized marketing, permission marketing, and mass customization to target potential consumers.
Largely due to the rise of the Internet, consumers are shifting more and more[quantify] towards becoming prosumers, consumers who are also producers (often of information and media on the social web) - they influence the products created (e.g. by customization, crowdfunding or publishing their preferences), actively participate in the production process, or use interactive products.
The law primarily uses a notion of the consumer in relation to consumer protection laws, and the definition of consumer is often restricted to living persons (not corporations or businesses) and excludes commercial users. 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. As all potential voters are also consumers, consumer protection has a clear political significance.
Concern over the interests of consumers has spawned consumer activism, where organized activists do research, education and advocacy to improve the offer of products and services. Consumer education has been incorporated into some school curricula. There are also various non-profit publications, such as Which?, Consumer Reports and Choice magazine, dedicated to assist in consumer education and decision making.
In India, the Consumer Protection Act 1986 differentiates the consumption of a commodity or service for personal use or to earn a livelihood. Only consumers are protected per this act and any person, entity or organization purchasing a commodity for commercial reasons are exempted from any benefits of this act.
Kids and teens are now the epicenter of American consumer culture.
[...] the completion of the producing process by the use and consumption which carries the goods-production into human life itself [...].
The consumer protection act 1986 of India, is a little more generous with the word 'Consumer'. According to this law, a consumer is not only a person who uses the product for domestic personal use, but also one who uses the product to earn his daily livelihood.
|Wikibooks has a book on the topic of: Category:Consumer|