Similar Terms
Collective buying power should not be confused with "purchasing power", "consumer purchasing power", or "collective purchasing power", which is a consumer's ability or a group of consumers' ability to buy goods and services as distinguished from the amount of money a consumer has.
It should also not be conflated with "buying power" or "consumer buying power", which has two definitions. The first, a consumer behavior definition, found in economic psychology implying the income available for discretionary spending among segments in the population. In short, it is a measure of the ability and willingness to buy goods or services. The second is an industrial definition, which refers to the relative influence an individual or a job function (engineering, purchasing, production) has in a purchasing decision. Power may be based on reward abilities (granting monetary or perceptual benefits), coercion, legitimacy, personality, or expertise.
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