People who purchase a company's products or services are referred to as what?

The correct answer is external customers. External customers are individuals or organizations that purchase a company's products or services from outside the company. They are the end-users or buyers who drive sales and revenue for a business. Understanding the needs and preferences of external customers is crucial for companies as they design their products, marketing strategies, and customer service approaches to meet those demands effectively.

Internal customers, on the other hand, refer to employees or departments within the organization who rely on one another to fulfill their roles – they do not purchase products or services in the traditional sense. Stakeholders encompass a broader group that includes anyone with an interest in the company, such as employees, customers, suppliers, and investors, but they do not solely refer to those who purchase products. Investors are individuals or entities that provide capital to a business and expect a return, but they are not necessarily involved in purchasing the company's offerings.