Business, Legal & Accounting Glossary
In sales, commerce and economics, a customer is the recipient of a good, service, product or an idea – obtained from a seller, vendor, or supplier via a financial transaction or exchange for money or some other valuable consideration.
A customer is someone who is purchasing something from a seller.
Customers are an essential part of any business. The purpose of a business is to generate wealth for its owner(s), and the customer is the one who exchanges money for the business’s product or service. Businesses typically seek to increase their number of customers, and also the loyalty of their customers. A business may try to establish a popular brand to keep customers from buying competing products.
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This glossary post was last updated: 4th August, 2021 | 20 Views.