seller

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Seller

A person or organization that relinquishes ownership of some asset in exchange for some monetary compensation. In a cash sale, the seller receives cash or a cash equivalent immediately in exchange for the asset. In a credit sale, the seller surrenders ownership immediately in exchange for future payment, often with interest. A seller is distinguished by the fact that he/she receives payment, as opposed to a buyer, who gives payment, or a donor, who relinquishes an asset for free. See also: Buyer.

seller

a supplier of a GOOD, SERVICE or FINANCIAL SECURITY. In the first two cases, a broad distinction can be made between suppliers of goods and services such as raw materials, components, plant and equipment which are used to produce other products (that is, suppliers of industrial products) and sellers of products for personal consumption (that is, suppliers of consumer products).

The distinction between these two groups is important in terms of the application of appropriate MARKETING STRATEGIES.