B2B marketing is a type of commerce transaction that exists between businesses, such as those involving a manufacturer and wholesaler, or a wholesaler and a retailer. Business to business refers to business that is conducted between companies, rather than between a company and individual consumers. A typical supply chain involves multiple business to business transactions, as companies purchase components and other raw materials for use in its manufacturing processes. The finished product can then be sold to individuals via business to consumer transactions.
B2B Service Provider
10 key factors that make B2B Markets special
- B2B products and services may require a more significant investment.
- B2B products and services are often complex, requiring a steep learning curve.
- The B2B evaluation process can be extensive, perhaps including a Request for Proposals (RFP) or Request for Quotations (RFQ).
- The purchasing decision often involves multiple individuals from different departments and levels in the organization.
- Each industry segment has its own jargon, thought leaders, and cultural conventions that B2B marketers must take into account.