Many people are confused as to what B2B or business-to-business marketing is.
To make things clear, it is important to compare B2B marketing with B2C or Business-to-Consumer marketing.
B2C marketing can be explained as a market where companies sell finished consumer products to the end consumer. This sale can be direct, wholesale, or, as in majority of cases, through a retailer.
On the other hand, B2B marketing is quite different. It refers to goods and services sold by one organization to another for its own use.
A component of a car is an example. The raw material for sheeting for the car body is purchased by the car manufacturer from a steel trading business or a steel mill.
But why the importance of B2B marketing?
Most marketing theories and concepts were developed in the United States in the pre-World War II era. The approach was primarily in the context of organizations selling to individuals or groups within end consumer markets.
However with time, the realization dawned that businesses operate in a completely different manner when buying and selling goods or services to another business.
B2B marketing functions at both domestic and global levels.
The key difference between B2C and B2B is that in the latter case the end consumer is the owner of some type of a company rather than a person buying for personal use.
In today’s market scenario, it is important to reach out to the maximum number of vendors so as to obtain the best possible deals.
A good B2B portal enables its members to interact with a huge number of buyers and sellers. Esources.co.uk is one such portal that is fulfilling the growing need for readily available information on verifiable businesses.
According to an esources.co.uk review, it is the internet’s largest database of verifiable wholesalers and dropshippers.
With more businesses embracing the internet, the importance of B2B portals is bound to increase substantially.
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