Customer

economic-dictionary

A customer is a person or entity that purchases the goods and services offered by a company.

The word customer can also be used as a synonym for buyer. The customer can buy a product and then consume it; or just buy it for someone else to enjoy.

Without a doubt, the customer is the main focus of attention of any company, so all marketing plans and strategies must be focused, developed and implemented in accordance with them.

Clients and markets

Companies have different buyers or clients according to the type of market in which they compete, or in which they sell their products. Here we explain the different markets that exist:

1. Consumer market and customers

In the consumer market, customers are individuals or families who request the goods and services of a company and then use them for their personal consumption.

For example, a family who buys groceries or cleaning products in a supermarket that will later be used at home.

2. Industrial markets and customers

In the case of industrial markets, customers are all companies that demand the products produced by another company, with the purpose of using them in their production process. Later they can transform them and make a new product or make use of them to transform other products, which will be put on the market.

So, we can exemplify this case with a company that sells bread and buys flour to produce the products, which it will later put on sale in the market.

3. Reseller and customer markets

On the other hand, customers in the reseller market are all companies that buy the goods and services of a company, and then put them up for sale for the use of end consumers.

In relation to this case, we can mention, for example, supermarkets, which buy different types of products from a large number of companies and then sell them at their facilities.

4. Government markets and clients

Likewise, the government or government agencies act as clients in this market, since they buy goods and services from other companies in order to offer public services.

Along with this, the goods and services they acquire may also simply be transferred to the people who need them within the country.

  • For the first case, it would occur when the government purchases supplies to carry out an operation in a public hospital.
  • In the second section, when you buy school books, to deliver them to the public school children who need them.

5. International markets and clients

In the same way, in international markets we can include as clients consumers, producers, resellers and governments from another country other than ours, who request and buy the products offered by the company.

Importance of customers for marketing

Therefore, customers are very important to any business, because, from a marketing perspective; what is sought is to achieve an exchange of value between companies and their markets.

Consequently, what the company intends to make appropriate use of marketing is to deliver a product to customers that allows them to satisfy a need, in exchange for obtaining profits. We realize then that the only way to make a profit for a company is through customer satisfaction.

For this reason, all marketing efforts are aimed at achieving customer satisfaction, since this determines the possibility that the company continues to be successful and remains in the market.

Without customers there is no company that will survive.

Marketing and customer relationship

Marketing, therefore, has two priority objectives with respect to customers, and these we summarize as follows:

1. Attract new customers

Any company that expects in the near future to have greater growth and increase its market share, must strive to get new customers.

New customers become a source of opportunity to grow and be profitable.

To attract new customers, companies must offer superior value, which succeeds in convincing the customer that the product they buy offers added value and that it exceeds the offers of the competition.

2. Keep current customers

The clients that the company currently owns are a very valuable asset; above all to maintain the level of participation within the total market.

Current customers do not help the company grow further, but they allow market share to continue to be maintained, ensuring that they continue to make a profit.

To retain current customers, companies must achieve full customer satisfaction, not only with the delivery of excellent quality products, but also by providing a level of service that keeps them happy and does not want to leave us.

In terms of conclusion, we must indicate that any company that wants to achieve success in the market must focus on the customer. For only companies that know and understand better the needs, interests and desires of their customers, are capable of preparing the best product proposals to be delivered to the market. Marketing that puts the customer first knows that its market offerings must achieve the well-being of the customer and society at large.

A company that works towards this goal, earns profits as a reward for its effort from its focus on the customer.

Customer types

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