What are the different types of consumers?

A

A consumer is a term that is commonly used in business, and it refers to a group of individuals who utilize services and goods that are produced in a given economic setup. For example, if you buy goods in a shop, you become a consumer of those goods. We can classify consumers into the following categories. First, we have consumers called big spenders. These are people who buy goods in bulk with the aim of selling them to make profits. Secondly, we have consumers known as bargain shoppers. These are people who buy goods when they still fetch low market prices, and they always aim at selling them when the prices shoot up. The third group of consumers is called brand name buyers or shoppers. In this case, we have people who have become loyal to certain products and they will always buy them and instead of others. This occurs due to the long-term reliability of a product to a consumer. The last category is called impulsive consumers. These are people who buy goods just out of curiosity or due to a certain desire to have them.

Answer by Academic.tip's expert
An answer to this question is provided by one of our experts who specializes in marketing. Let us know how much you liked it and give it a rating.

Cite this page

Select a citation style:

References

Academic.Tips. (2021) 'What are the different types of consumers'. 21 July.

Reference

Academic.Tips. (2021, July 21). What are the different types of consumers? Retrieved from https://academic.tips/question/what-are-the-different-types-of-consumers/

References

Academic.Tips. 2021. "What are the different types of consumers?" July 21, 2021. https://academic.tips/question/what-are-the-different-types-of-consumers/.

1. Academic.Tips. "What are the different types of consumers?" July 21, 2021. https://academic.tips/question/what-are-the-different-types-of-consumers/.


Bibliography


Academic.Tips. "What are the different types of consumers?" July 21, 2021. https://academic.tips/question/what-are-the-different-types-of-consumers/.

Work Cited

"What are the different types of consumers?" Academic.Tips, 21 July 2021, academic.tips/question/what-are-the-different-types-of-consumers/.

Copy