What term refers to an individual who utilizes a product or service?

The term that refers to an individual who utilizes a product or service is "Consumer." In marketing, a consumer is defined as the end user of a product or service who engages with it for personal use, as opposed to someone who uses it for business or resale purposes. This distinction is crucial because understanding consumer behavior helps marketers tailor their strategies to meet the needs and preferences of the target audience effectively. By analyzing factors such as purchasing patterns, motivations, and experiences, marketers can create compelling value propositions that resonate with consumers.

On the other hand, stakeholders refer to anyone with an interest in a company or its activities, which can include employees, investors, and community members, but they do not specifically relate to the direct use of a product or service. Distributors are entities or individuals involved in the supply chain who move products from manufacturers to consumers but do not utilize the products themselves. Competitors are other businesses in the same market space offering similar products or services and do not fit the definition of individuals using a product. Thus, the understanding of "Consumer" is vital for effective marketing practices.