Customer vs Consumer-A Different Perspective

In this article the author attempts to explorethe true meanings of customer and consumer using case analysis, definition of Consumer, who is more important for the manufacturers and marketers customers or consumers and Formula to calculate the total number of consumers and customers of a Product or Service. The primary methodology used is Theoretical Research in which the goal is to prove/disprove a hypothesized truth. Also, Data Triangulation which is the use of a variety of data sources and Theory Triangulation which is the use of multiple perspectives to interpret the results have also been used. There may be a mismatch between the number of Customers and the number of Consumers, particularly in the case of non-industrial products. It is virtually impossible to determine the exact number of Customers and Consumers of a product or service. Mere purchase or usage of a product or service does not make the buyer a True Customer or Consumerof the product or service. The manufacturers and marketers should give equal importance to both customers and consumers. The determining factor is the decision-maker, irrespective of whether he or she is the customer or consumer.