Consumer

Consumer is an individual or a group who is the final user of products or services. The consumer's use is the end of the production process. Consumers play a vital role in the economic system of a nation because it is ultimately the consumer who drives demand and therefore production.

Definition

A Consumer is defined as someone who acquires goods and services for direct use or ownership rather than for resale or use in production and manufacturing. Consumers are often referred to in different fields of study such as economics, marketing, and law.

Consumer Behavior

Consumer behavior refers to the study of how consumers make decisions about what they need, want, and desire and how do they buy, use, and dispose of goods. It includes the study of what they buy, why they buy it, when they buy it, where they buy it, how often they buy it, and how often they use it.

Consumer Rights

Consumer rights are the rights given to a "consumer" to protect him/her from being cheated by salesman/manufacturer. Consumer rights are given by the government to prevent businesses from engaging in fraudulent activities.

Consumer Protection

Consumer protection involves laws and organizations designed to ensure the rights of consumers as well as fair trade competition and the free flow of truthful information in the marketplace. The laws are designed to prevent businesses that engage in fraud or specified unfair practices from gaining an advantage over competitors and may provide additional protection for the weak and those unable to take care of themselves.

Consumerism

Consumerism is a social and economic order that encourages the acquisition of goods and services in ever-increasing amounts. With the industrial revolution, but particularly in the 20th century, mass production led to overproduction—the supply of goods would grow beyond consumer demand, and so manufacturers turned to planned obsolescence and advertising to manipulate consumer spending.

See Also

• Consumer advocacy
• Consumer education
• Consumer theory
• Consumer spending

References

Consumer Resources
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