Types of customers: Difference between revisions
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<li>[[ | <li>[[Private label products]]</li> | ||
<li>[[ | <li>[[Chain stores]]</li> | ||
<li>[[ | <li>[[Consumer]]</li> | ||
<li>[[ | <li>[[Micro-enterprise]]</li> | ||
<li>[[ | <li>[[Mass Merchandising]]</li> | ||
<li>[[ | <li>[[One-stop shop]]</li> | ||
<li>[[Indirect channel of distribution]]</li> | <li>[[Indirect channel of distribution]]</li> | ||
<li>[[ | <li>[[Bricks and clicks model]]</li> | ||
<li>[[ | <li>[[Business format franchising]]</li> | ||
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}} | }} | ||
'''Customers''' are the people or organizations that purchase goods or services from a business. They can be classified into several types, including B2C (Business-to-[[Consumer]]) customers, B2B (Business-to-Business) customers, individual customers, and institutional customers. B2C customers are individuals who purchase goods or services from a business, while B2B customers are companies or organizations that purchase goods or services from other businesses. Individual customers are individuals who purchase goods or services directly from a business, while institutional customers are organizations such as [[government]] agencies, non-[[profit]] organizations, and educational institutions that purchase goods or services from a business. | '''Customers''' are the people or organizations that purchase goods or services from a business. They can be classified into several types, including B2C (Business-to-[[Consumer]]) customers, B2B (Business-to-Business) customers, individual customers, and institutional customers. B2C customers are individuals who purchase goods or services from a business, while B2B customers are companies or organizations that purchase goods or services from other businesses. Individual customers are individuals who purchase goods or services directly from a business, while institutional customers are organizations such as [[government]] agencies, non-[[profit]] organizations, and educational institutions that purchase goods or services from a business. | ||
Revision as of 01:42, 20 March 2023
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Customers are the people or organizations that purchase goods or services from a business. They can be classified into several types, including B2C (Business-to-Consumer) customers, B2B (Business-to-Business) customers, individual customers, and institutional customers. B2C customers are individuals who purchase goods or services from a business, while B2B customers are companies or organizations that purchase goods or services from other businesses. Individual customers are individuals who purchase goods or services directly from a business, while institutional customers are organizations such as government agencies, non-profit organizations, and educational institutions that purchase goods or services from a business.
Example of types of customers
- B2C Customers: These customers typically include individuals who purchase products from a business, such as grocery stores, clothing stores, and online retailers. An example of a B2C customer would be a person who shops at a grocery store for their weekly groceries.
- B2B Customers: These customers typically include companies or organizations that purchase goods or services from another business. An example of a B2B customer would be a company that buys raw materials from a manufacturer to make their own products.
- Individual Customers: These customers typically include individuals who purchase goods or services directly from a business, such as a restaurant, hotel, or theater. An example of an individual customer would be a person who books a hotel room online.
- Institutional Customers: These customers typically include organizations such as government agencies, non-profit organizations, and educational institutions that purchase goods or services from a business. An example of an institutional customer would be a school that purchases textbooks from a publisher for its students.
Advantages of types of customers
Each type of customer brings its own unique set of advantages for businesses. A one-sentence introduction to the list of advantages follows: The different types of customers each offer businesses distinct advantages.
- B2C customers bring a large customer base that businesses can reach through marketing and advertising. B2C customers are also typically more willing to make impulse purchases, making them a great source of revenue.
- B2B customers often purchase goods in large quantities, which can increase a business’s revenue. Additionally, B2B customers typically form long-term relationships with businesses, providing a steady source of income.
- Individual customers can provide businesses with a steady income stream, as they may make repeat purchases over time. Individual customers may also provide valuable feedback to businesses, allowing businesses to improve their products and services.
- Institutional customers often purchase goods and services in bulk, which can provide businesses with a large, one-time source of revenue. Additionally, institutional customers may open up new opportunities for businesses, such as government contracts.
Suggested literature
- Wysocki, A. F., Kepner, K. W., & Glasser, M. W. (2001). Customer complaints and types of customers. University of Florida Cooperative Extension Service, Institute of Food and Agriculture Sciences, EDIS.
- Nguyen, T. D., Paswan, A., & Dubinsky, A. J. (2018). Allocation of Salespeople's resources for generating new sales opportunities across four types of customers. Industrial Marketing Management, 68, 114-131.
