Consumers refers to individuals or households that purchase and use goods
and services generated within the economy. The concept of a consumer is used
in different contexts, so that the usage and significance of the term may
vary.
Consumer in economics and marketing
Typically when businesspeople and economists talk of consumers they are
talking about person as consumer, an aggregated commodity item with little
individuality other than that expressed in the buy/not-buy decision. However
there is a trend in marketing to individualize the concept. Instead of
generating broad demographic profile and psychographic profiles of market
segments, marketers are engaging in personalized marketing, permission
marketing, and mass customization.[1]
In free market economics, consumers dictate what goods are produced and are
generally considered the center of economic activity. Individual consumption
of goods and services is primarily linked to the consumer's level of
disposable income, and budget allocations are made to maximize the
consumer's marginal utility.[2] In 'time series' models of consumer
behavior, the consumer may also invest a proportion of their budget in order
to gain a greater budget in future periods. This investment choice may
include either fixed rate interest or risk-bearing securities.
From: Wikipedia
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CONSUMERS