buyer


Also found in: Dictionary, Thesaurus, Medical, Legal, Idioms, Encyclopedia, Wikipedia.

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 periodicals archive ?
This is similar to the situation that occurs with many house purchases, where a price is agreed upon, and then the buyer has the house inspected and asks for concessions, credits or a price reduction based upon "defects" discovered during the inspection.
If the benefits and burdens of ownership are not so transferred, the employee is deemed to have sold the residence to a third-party buyer with the employer's assistance.
If the prospective buyer is a public broken the selling agency can be relatively confident the buyer knows its business, and the question for the seller then becomes why is the buyer interested in this agency.
In taxable transactions, such liabilities can create difficulties for both the buyer and the seller.
The issue of who is to be responsible for what, vis-a-vis moving the goods from the seller to the buyer, is something that has to be agreed upon by the exporter and the foreign buyer.
Buyers Brokers Only, LLC provides exclusive buyer representation to homebuyers in Massachusetts and New Hampshire, with more than 20 exclusive buyer brokers helping homebuyers purchase more than 200 homes annually throughout the Greater Boston Area and Southern New Hampshire.
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.
Now, with plenty of supply and falling prices, sellers are lowering asking prices and scurrying to doll up their homes to lure buyers who are comfortably back in the saddle and using their newfound leverage to take revenge.
For financial institutions, the availability of a closed-loop infrastructure between buyer and supplier is an undeniable opportunity.
As a result, many of these transactions, especially for smaller firms or single partner firms being bought by key employees, are structured so the seller actively encourages clients to remain with the buyer.
A hypothetical buyer would not take into account the tax consequences of distributing the assets in the IRAs, because the buyer would be purchasing the securities, not the IRAs themselves.