Customers are parties who buy goods or services directly. They can be individuals, businesses, organizations, or governments, depending on their target market. They can also come from internal (such as employees and shareholders) and external (whether local, national or foreign)
The difference between customers, buyers, and consumers
Customers are different from consumers. For example, when you buy a bicycle for your child, you are a customer. Meanwhile, your child is a consumer, that is, who uses and receives benefits from the product.
Customers are those who buy products or services through a store or business directly. In short, they are buyers who have direct contact with sellers or businesses. Say, you ask your friend to buy a bicycle, instead of buying it yourself. In this case, your friend is a customer while you are a buyer.
The customer’s interest in the company and why they matter
Customers have an interest in businesses related to:
- product or service quality
- price
- non-price services, such as after-sales services.
They might also buy the product because of factors such as company reputation or product safety.
For companies, customers are a source of money. For this reason, customer satisfaction and loyalty is the key to business success. If customers are satisfied and loyal, they will continue to buy products from the company. They will also tend to recommend products to their friends or coworkers.
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But, if they are not satisfied, they will turn to competitors, which means the money goes out. And without money, companies cannot pay dividends, employees, and suppliers or pay off debt.
The company should monitor customer satisfaction and maintain good relations with customers. They need to ask for feedback about methods to improve product lines and improve their marketing approach.
