Defining Consumer Market

All households and individuals who buy or acquire services and goods for personal consumption are termed as a consumer. Markets must be understood before marketing strategies may be developed.   People by using consumer markets buy services and goods for personal consumption. Consumers vary enormously in income, age, tastes, education and other factors. The Consumer behaviour is influenced by the buyer's decision process and by the buyer's characteristics.  The buyer characteristics include four major factors:   social, cultural, personal, and psychological.

Consumer Markets

The consumer Buying Behaviour refers to buying behaviour of final consumers-households and individuals who buy and services and goods for personal consumption.

 The world consumer market consists of more than 6 billion people. At current growth rates, the world population shall reach approximately 8 billion people by the year 2025

Consumers around world vary extremely in, income, age, tastes, and education level. They also buy an unbelievable variety of and services and goods. How these diverse consumers attach with each other and with other elements of world around them impact their option among the various products, companies, and services. Here we check the fascinating array of factors that put affect consumer behaviour.