Buyer is a noun that, quite simply, refers to one who “buys”, or purchases. Further elaboration as to what a buyer is requires specification as to the industry in which the buyer is being referred to. For example, in the hotel management profession, a buyer is the individual in charge of purchasing items related to the day to day function of the hotel, from food items, to toiletries, to other miscellanous expenses. In an auction setting, a buyer may refer to the person who won the auction and has, as such, committed to “buying” a particular item. IN the context of the stock market, a buyer can be referred to as one who is acquiring stock, as opposed to a seller who is surrendering stock at the time. IN the area of project management, a buyer is a person who acquires the products, services, or results for a specific group, project team, or organization.
This term is defined in the 3rd and the 4th edition of the PMBOK.