A consumer is an individual who purchase or has the capacity to purchase goods and services offered for sale by marketing institutions in order to satisfy personal or household needs, wants or desires.
According to a statement made by Mahatma Gandhi, ‘consumer refers to the following, “A consumer is the most important visitor on our premises. He is not dependent on us. We are dependent on him. He is not an outsider to our business. He is part of it. We are not doing him a favour by serving him. He is doing us a favour by giving us an opportunity to do so”. So consumer is like the blood of our business and also a satisfied customer is a word of mouth advertisement of a product / services.
CONSUMER SATISFACTION
Every human being is a consumer of different produces. If there is no consumer, there is no business. Therefore, consumer satisfaction is very important to every business person. According to Philip Kotler consumer satisfaction is defined on, “personal feeling of pleasure resulting from comparing a product’s pursued performance in relation to his /her expectations”.
Consumer attitude measurements are taken on either potential buries or existing client’s buries in order to identify their characteristics. Why should the competent market engineer conduct consumer research? Consumer’s surverys can provide the researcher with a wealth of information, valuable of the marketing function.
Detailed information regarding the customer in a market will provide the basic platform for all marketing decisions. Marketing decision maker needs descriptive information about the total potential unit and dollar sales in each segment. Perhaps the most important one is that a seller need to be aware of the relevant objective and need of consumer and how their objectives might best be served by the products.
MARKET
The term market is derived from Latin Word ‘Mercatus’, which means ‘to trade’ that is purchasing and selling of goods. It also means merchandise truthic place of business. According to Pyle, “Market includes both place and region in which buyers and sellers or in free competition with one another”.
MARKETING
Marketing includes all the impacts involved in the exchange process of transferring the possession and ownership of goods or services from the producer to the ultimate consumer’s.
MARKETING FORMULA
a. The foremost step is business aims at profit.
b. For profit making he can sell the products.
c. For selling the product he should create customers.
d. For creating the customer’s, customer’s needs of preferences to be identified and satisfied.
e. To satisfy the customer’s new product to be produced.
Marketing is trying to learn,
- Who buy the products or services?
- How do they buy?
- When do they buy?
- Where do they buy?
- Why do they buy?
- How often they buy?
It is otherwise called understand and predict human actions in their buying role. A marketer is act as consumers while them purchasing any goods /services, and try to market that product to an ultimate consumer. So, marketing is starts with consumer and ends with consumer. So, today’s market is called on consumer market. It can be defined on, “All the individuals and households who buy goods and services for personal consumption”.
CONSUMER SATISFACTION
Importance of consumer satisfaction - so the consumer satisfaction is get more importance in the marketing functions.
The needs to satisfy customer for success in any commercial enterprise is very obvious. The income of all commercial enterprise is derived from the payments received for the products and services supplied to its customers.
If there is no customer there is no income and there is no business. Then the core activity of any company is to attract and retain customers. It is therefore no surprise that Peter Drucker the renowned management Guru, has said “to satisfy the customers is the mission and purpose of every business”.
Satisfaction of customer is essential for retention of customer’s and for continuous sales of the products and services of the company to customers. This establishes the needs for and the importance of customer satisfaction.
The satisfaction of consumers is different from one to another. Became, each consumer has the different behaviour in their life. So, the marketer satisfy the consumer, he must very well know the behaviour of consumer.
CONSUMER BEHAVIOUR
The term consumer behaviour may be defined as the behaviour that consumer displays in searching for purchasing, using, evaluating, producing, services and ideas which they expect will satisfy their needs.
In other words, “It is a study of physiological, social, physical, behaviours of all potential customer as they become aware of evaluation, purchase and consumption and tell other about products and services”.
