The term B2B is defined as Business-to-Business trade. The concept of B2B is connecting of two different businesses to perform their commercial activities directly without the engagement of customers. In simple terms, B2B or Business-to-Business is a commercial transaction or trade done between businesses, such as one involved a manufacturer and wholesaler, or a wholesaler to a retailer.
Generally, a B2B trade is done between businesses of manufacturer and supplier of raw materials. Also, the brokers/traders of manufacturers involved in sales, purchase. This B2B commerce is done domestic and international wide. Previously it is done in traditional ways of gathering into groups or markets to perform business trades/deals.
As the internet is ruling the world from the last decade, this B2B commerce is now done through the internet. Based on the rapid business growth and various requirements of businesses these B2B trades are set up as Online B2B portal / online B2B Marketplaces. These online B2B Portals acts as a platform for all business trades as one business offers all the requirements and needs of other businesses.
Specifically talking about the Indian B2B portal, the Indian market has come up as a major marketing tool, which is used to give benefits to every distributor, manufacturer and supplier. This advanced way of trading has helped the traders to generate revenue so as to add productivity to their business. This, in turn, offers greater scope to manufacturers to cater the needs of suppliers, distributors both nationally as well as globally.
The trend of online business dealing has eliminated business trade complexities. Following the trend enables one to crack deals with respect to large business houses, importers, dealers, exporters and suppliers. This process of business trading has gained popularity and is proven to give a sure shot success to the businesses.
The major advantages of these Online B2B portals are that one can easily connect to the desired requirements of sector, category within a short time. Online B2B Portal services eliminate the 3rd party who is involved in dealing/connecting the required suppliers, buyers, etc. This saves a lot of money and time for the businesses.
The advanced marketing techniques and leads from various sectors help every business individual to utilize these Online B2B Portals for their revenue development and getting new business connections around the globe.
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