B2B (Business to Business)
Business to business involves online transactions between two businesses or any two organizations. In B2B companies buying from and selling to each other online. But there’s more to it than purchasing. It’s evolved to encompass supply chain management as more companies to outsource parts of their supply chain to their trading partners for example company like LML ltd deal electronically with its dealers and place online orders to its vendors for the raw materials and can track the status of those orders.
A large number of companies are adopting this technique to curb the existing inefficiencies involved in potentially time consuming and tedious tasks, while cutting down the costs. It links suppliers, factories, distributors and retails directly.
B2B activity refers to all e-commerce transaction that can occur between two organizations. This includes purchasing and procurement, supplier management, inventory management, channel management, sales activities, payment management and services and support.
- building and maintaining relationships over time
- a relatively small and easily identified target market
- multiple buying influences, and a larger number of people making buying decisions
- a longer buying process
- decision-making based on service and after-care more than price
- more knowledgeable buyers