The consumer market is the market for goods and services purchased by individuals and households rather than businesses. Individual decision-makers generally make consumer purchases, either for themselves or others in the family. As a result, the development of new products and services is heavily influenced by consumer demand. To be successful, businesses must understand what consumers want and need and then develop products that meet those needs; this can be a challenge as consumer preferences constantly change. Nevertheless, businesses that can stay ahead of the curve can reap significant rewards in increased sales and profits.

‍