buyer

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Buyer

The person or company that takes ownership of some asset in exchange for some monetary remuneration. Buying may take any of several forms. In a cash purchase, the buyer gives cash or a cash equivalent immediately in exchange for the asset. In a credit sale, the buyer takes ownership immediately in exchange for future payment, often with interest.

buyer

a purchaser of a GOOD, SERVICE or FINANCIAL SECURITY. A broad distinction can be made between purchasers of goods and services such as raw materials, components, plant and equipment which are used to produce other products (referred to as ‘industrial buyers’) and purchasers of products for personal consumption (referred to as ‘consumers’).

The distinction between the two groups is important in terms of the application of appropriate MARKETING STRATEGIES. In general, industrial buyers, mainly purchasing/procurement officers, are involved in the purchase of ‘functional’ inputs to the production process, usually in large quantities and often involving the outlay of thousands of pounds. Their particular concern is to obtain input supplies which are of an appropriate quality and possess the technical attributes necessary to ensure that the production process goes ahead smoothly and efficiently. In selling to industrial buyers, personal contacts, the provision of technical advice and back-up services are important. Buyers of consumer goods, by contrast, typically buy a much wider range of products, mainly in small quantities. Purchases are made to satisfy some physical or psychological need of the consumer. Thus, it is important for marketers to understand the basis of these needs and to produce and promote BRANDS which satisfy identifiable consumer demands. In this context, ADVERTISING and SALES PROMOTION are important tools for shaping consumers’ perceptions of a brand and establishing BRAND LOYALTY. See BUYER BEHAVIOUR, BUYING CENTRE, BUYING PROCESS, PURCHASING.

buyer

a purchaser of a GOOD or SERVICE. A broad distinction can be made between purchasers of items such as raw materials, components, plant and equipment that are used to produce other products (referred to as ‘industrial buyers’) and purchasers of products for personal consumption (referred to as ‘consumers’).

In general, industrial buyers (in the main purchasing/procurement officers) are involved in the purchase of ‘functional’ inputs to the production process, usually in large quantities and often involving the outlay of thousands of pounds. Their particular concern is to obtain input supplies that are of an appropriate quality and possess the technical attributes necessary to ensure that the production process goes ahead smoothly and efficiently. In selling to industrial buyers, personal contacts, the provision of technical advice and back-up services are important.

Buyers of consumer goods, by contrast, typically buy a much wider range of products, mainly in small quantities. Purchases are made to satisfy some ‘physical’ or ‘psychological’ need of the consumer. Thus, it is important for suppliers to understand the basis of these needs and to produce and promote BRANDS that satisfy identifiable consumer demands. In this context, ADVERTISING and SALES PROMOTION are important tools for shaping consumers’ perceptions of a brand and establishing BRAND LOYALTY. See PRODUCT DIFFERENTIATION.

References in classic literature ?
As soon as the buyer had paid the four cents, the Donkey changed hands.
The market has shifted from sellers to buyers, but people don't realize it.
Buyers have become more selective, because they have more product to chose from, but they are still buying," said Levy, who has successfully tapped into the high-end market by offering buyers what they demand; the very finest in design and the one-time luxuries that are now regarded as necessities.
20, 2015 /PRNewswire/ -- Started by two lawyers in November 2005 with the goal of providing homebuyers with 100 percent loyalty from their real estate buyer agent, Buyers Brokers Only, LLC has grown to be one of the largest exclusive buyer agent real estate companies in the United States.
For buyers, SCF offers four broad areas of benefit:
Buyers prefer that this cap is an amount equal to revenues received from the clients being transferred during the year prior to sale, while sellers prefer that the amount be determined annually, based on actual revenues from these clients.
Jones and Hylick faced the challenges that a multitude of home buyers face at the closing (also called the settlement), the meeting in which the sale of property is finalized.
In Amdahl, the relocating employees continued to retain the benefits and burdens of ownership of the residences, because they held legal title pending sales to third-party buyers and received any profits from the sales.
With the no-lapse product, in contrast, buyers could claim not only that they were sold the wrong type of policy for their needs, but that they were never clearly told how the policy really worked.
Central to the Fifth Circuit's reasoning in Smith, and cited with approval by the Tax Court in Kahn, was the determination that a beneficiary's responsibility for the income tax liability on IRD is not a consideration of hypothetical willing buyers and sellers.
The terms of the transaction and structure, including tax implications, are major issues for buyers and sellers.