Buyer

An individual or an entity that conducts a purchase transaction.

What is a buyer?

A buyer is an individual or an entity that carries out a purchase transaction, that is, makes a payment and consequently obtains a good or service.

This is based on your needs to carry out purchase actions in the respective markets and your payment method is usually monetary, however, there are exceptions in which a buyer makes a payment by granting another specific good or service.

Characteristics of a buyer

The main characteristics of a buyer are listed below:

• They contribute to the economy.
• It is part of the variables studied by marketing.
• Grants a certain monetary amount in exchange for a good or service.
• Participates in the operation of sale and purchase and of goods or services.
• It influences the prices of goods and services on the market.
• It can be a natural or legal person.
• Acquire products according to the needs you have.

Types of buyers

The main types of buyers are listed below:

• National buyer: one whose purchase operations have geographical limitations comprised by the border limits of a given country, therefore, their activities are carried out only within the territory of a country.
• International buyer: one that executes its purchase operations in more than one country, that is, it does not have geographical limitations, therefore, its activities are carried out around the world.
• Regional buyer: one whose purchasing operations are carried out in a certain geographical area of ​​a given country.
• Municipal buyer: one whose operations are carried out in a geographical area corresponding to a municipality.
• Online buyer: one who executes their purchase operations with the intervention of the internet and electronic commerce, either through online stores or any digital application.
• Physical buyer: one who executes their purchase operations exclusively using physical interaction, without the need to use digital tools.
• Wholesale buyer: one whose purchase volume is high, generally this type of buyer resorts to a price negotiation as a strategy to acquire a greater number of units.
• Retail buyer: one whose purchase volume is low, they generally purchase a few units of the same product.
• Merchant buyer: the one who executes his purchase operations with a previous negotiation of the price of the product.

Buyer and consumer

The term buyer should not be confused with the term consumer, since there are notable differences between them. While the consumer is that individual or entity that carries out the consumption of the good or service previously acquired through a respective commercial operation, regardless of whether or not he is responsible for executing the purchase, the buyer is that person or organization that carries carry out the purchase of the good or service.

Therefore, a buyer can be a consumer at the same time, as long as he executes the consumption of the product, and in the same way, a consumer can be a buyer if he carries out the prior purchase of the good or service.

Examples of buyers

Here are some examples of buyers:

• An individual who buys a television in a store.
• A company that buys supplies for its operations in a market in the region.
• A merchant who purchases resources from a local manufacturer for further distribution.
• The carpenter who buys a wide variety of raw materials to produce in his business.
• A mechanic who buys spare parts to run his operations.
• An individual who buys a t-shirt for his brother in a clothing store.

 

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