Posted in Marketing and Strategy Terms, Total Reads: 307

Definition: Vendee

Vendee, purchaser or buyer is an individual or a company which buys a product from a seller by exchanging money for the goods or products. A sale of goods or an agreement to sell requires two parties: a seller and a buyer. The object must be transfer of property of goods from seller to buyer and the consideration for the goods must be money

In the case of actual sales ownership of goods is transferred immediately to the buyer. The buyer may use the goods as he likes and he can even re sell the goods. There is no return of goods unless there is a breach. In the case of agreement to sell, the ownership of the goods rest with the seller and once the goods are delivered and the buyer pays the price the buyer takes the ownership of the goods.

In a selling process there are two types of stipulation. condition and warranty. If the stipulation is essential then it is condition whereas if the stipulation is just collateral then it is warranty.

In recent times the buyers wield great powers as there are many options available for buyers and firms are competing with each other to acquire the customers or buyers. Customer satisfaction and service are given greater emphasis to retain existing customers and also using the excellent customer orientation as a differentiating factor in attracting potential customers.



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