Types of Consumers

TYPES OF
CONSUMERS
Consumer Behaviour
CONSUMERS
• Consumers are people or organizations that
purchase products or services. The term also
refers to hiring goods and services. They are
humans or other economic entities that use a
good or service.
• They are the end users in the goods and
services distribution chain. In fact, sometimes
the consumer might not be the buyer.
• For example, young children are the end users
of toys, but their parents buy them. Therefore,
in the market for toys, the buyer and consumer
are often different people.
Taken from:
https://marketbusinessnews.com/financial-glossary/consumers-
definition-meaning/
Consumers are the end
users of a product or
service. In this image,
the customer is the adult.
He paid for the doll.
However, his daughter is
the consumer. We use
the term ‘ultimate
consumer’ to emphasize
that it is with that person
that the road ends for the
product. Another term
that emphasizes the fact
is ‘final consumer.’
Consumers in
the Marketplace
• In the marketplace, consumers are people
or economic entities that purchase or hire
products. They do this for personal use. In
other words, they do not buy them for
manufacture or resale.
• When the non-business media talk about

consumers, they usually refer to people.
Specifically, people evaluate, acquire, and
use products to satisfy their needs and
wants.
• Consumers are key figures in the

marketplace. All the makers and sellers of
goods are focused on consumers.
Consumer vs.
Customer
• We often use the terms ‘consumers’ and
‘customers’ interchangeably. However, they do
not always have the same meaning. A
customer is not always the consumer.
• Customers purchase things, but consumers use
them.
• For example, the customers of a company that
sells pet food are mostly adults. However, the
consumers are dogs or cats.
• The difference between consumers and
customers impacts how businesses market
their products. Customers buy toys, for
example, if consumers – children – demand
them.
• Therefore, toy companies should target
children in their marketing efforts. Children will
subsequently react to the marketing efforts by
influencing what adults buy.
What is a
consumer
society?
• A consumer society is one in which people
frequently buy new products, especially goods
we don’t need for survival. Most of the
advanced economies are consumer societies.
Consumers place a high value on owning things.
• A few centuries ago, society was very different.
Most people did not spend much time and
money shopping for goods made far away.
• Before the Industrial Revolution, most people in
Europe and North America lived in rural areas.
Nearly everybody worked on farms. They had
little clothing and few household possessions.
Virtually everything people owned was made
either at home or in the same village.
• New fashions, technological
change, and social pressure did
not influence people to buy
things. People’s possessions
lasted for decades or even a
lifetime.
• If you tore your shirt or broke a
chair, you would repair it, rather
than buy a new one.
• Today, we do not even bother
darning our socks. As soon as
we see a hole in our socks, we
throw them away and buy a
new pair.
Five Types of
Consumers in
Marketing
• Marketing strategies of the past have

largely relied on a one-size-fits-all
approach where the most important
aspect was getting the message to
as many people as possible, but the
modern marketplace calls for a more
targeted approach. Reaching the
right customer at the right time is far
more effective than taking a mass
approach designed to simply
maximize exposure and hope
something sticks. Research shows
that there are 5 types of consumers
in marketing and that they all require
slightly different attraction and
retention techniques.
What Are Different
Types of Consumers
in Marketing?
• Loyal Customers
• Impulse Shoppers
• Bargain Hunters
• Wandering Consumers
• Need-Based Customers
Consumers' online behavior plays
a crucial role in shaping their
perceptions and decisions..
Loyal Customer
• Customer loyalty is when customers reward a
company with repeat business over time. Loyal
buyers consistently choose to do business with a
particular brand and often defend it against its
competitors.
• Loyalty entails developing a customer base so
devoted to your brand that they’re willing to buy
whatever you offer—no matter the price—even
when there are cheaper alternatives in the
market. Happy, loyal customers can also become
brand advocates who promote your product or
service to friends and family and stick with you
even in tough times.
• Essentially, loyal customers are those who:
• Make repeat purchases

• Aren’t interested in your competitors
• Engage with you on various channels
• Provide feedback on how your company can
improve its offerings
• Advocate for your brand and recommend
your products or services to others
5 different types
of loyal customers
Customers are loyal to businesses for specific reasons—
whether it’s the low prices, convenience, company
values, or quality of the product. Here are a few different
types of loyal customers.
• Satisfied customers
Also known as happy customers, these buyers genuinely
like your products or services and regularly make
purchases. Though they may be satisfied, they can easily
be swayed to switch to a competitor for a better deal,
discount, or experience.
• Convenience loyals
These customers shop with you because it’s convenient
for them. They may appreciate the ease of making a
purchase, the location, or the shipping speed.
Convenience is what makes them stay with you for the
long haul—and they’re willing to pay more for it.
• Loyalty-program loyals
These shoppers are loyal only to your loyalty
program—not your brand. They’ll make
purchases just to get discounts or freebies. As
long as they see value in your loyalty or rewards
program, they’ll continue to buy from you
instead of your competitors.
• Low-price loyals
These customers buy from you because you offer
the lowest price or the best deal compared to the
competition. While shoppers will stick around if
prices remain low, they’ll also be quick to leave
for a better deal somewhere else.
• Truly loyal customers

Truly loyal customers are your biggest fans, and
it’s highly unlikely that they would ever leave
you for a competitor. They make frequent
purchases, provide feedback, participate in your
loyalty program, and—best of all—encourage
friends and family to buy from you.
Impulse shoppers
• Impulse shoppers are those simply
browsing products and services with no
specific purchasing goal in place. This
consumer segment generates significant
revenue for most retailers. This type of
consumer is usually receptive to
upselling and has the potential to
become a loyal customer if products and
services meet or exceed their
expectations and desires.
• Definition: Impulsive buying is the
tendency of a customer to buy goods
and services without planning in
advance. When a customer takes such
buying decisions at the spur of the
moment, it is usually triggered by
emotions and feelings.
Interesting fact
• Impulsive buying can't be categorized for one specific product

category. Impulsive buying can be seen in products such as
chocolates, clothes, and cell phones and in big-ticket items such
as cars, jewelry etc. Impulsive buying means making an
unplanned purchase. It is based on an irrational thinking.
Marketers try to tap this behavior of customers to boost sales.
There is a great likelihood that customers end up making a
purchase of products after entering the hypermarket without any
actual intent of doing so. Many cell phone makers tend to exploit
this trait in customers by introducing products that can be add-
on gadgets for their mobiles such as fitness bands, watches, etc.
Bargain hunters
• Bargain hunters are seeking the

best deal, period, and most likely
won't be swayed by upselling
techniques — in fact, this may
cause them to move on. This type
of customer has very little potential
to become a loyal customer unless
it's part of your business strategy to
always offer the lowest possible
price points. This customer also
rarely, if ever, makes purchases on
impulse. Advertising sales is the
best way to appeal to those in this
customer group.
Wandering
Consumers
• Wandering customers are somewhat related
to impulse shoppers, but they're much less
likely to make purchases. This type of
customer is more prevalent in brick-and-
mortar locations, but they do stumble into
online retail venues on occasion. It's
sometimes possible to make a sale to those
just wandering through provided you can
stimulate their interest, but keep in mind
that many of them are simply attracted to
the social interaction of shopping and have
no intention of making a purchase.
• Wandering customers draws the largest
amount of traffic to the company while
making up the smallest percentage of sales
revenue.
• They investigate features of the most
prominent products in the market but do
not buy any of those or show the least
interest in buying.
Need-based
consumers
• As the name implies, need-based
consumers are driven by the need for a
specific product or service. Although
these customers generally make
purchases decisively and quickly once
they find what they're seeking, they're
easily lured away by competing
businesses. However, they're frequently
converted into loyal customers. They often
have practical questions or concerns that
can be addressed with a proactive social
media presence.
• Taken from:https://www.demandjump.com/blog/types-
of-consumers-in-marketing

Types of Consumers

Uploaded by

Copyright:

Available Formats

Types of Consumers

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Types of Consumers

Uploaded by

Copyright:

Available Formats

TYPES OF

• When the non-business media talk about

• Consumers are key figures in the

• Marketing strategies of the past have

• Make repeat purchases

• Truly loyal customers

• Impulsive buying can't be categorized for one specific product

• Bargain hunters are seeking the

You might also like