Recently 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. The consumer also forms one end of the chain of distribution. Without consumer demand, producers would lack one of the key motivations to produce: to sell to consumers. As such, consumers play a vital role in the economic system of a capitalist system Īnd form a fundamental part of any economy. Consumers pay some amount of money (or equivalent) for goods or services. In an economy, a consumer buys goods or services primarily for consumption and not for resale or for commercial purposes.
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