B2B, or Business to Business, transactions occur when businesses sell products and provide services to other businesses, sometimes in a wholesale context. In terms of monetary value, B2B products and services represent the majority of sales transactions.
In many cases, B2B transactions deal with products and services that are customized to satisfy a customer's or client's requirements. Business buyers are usually quite knowledgeable, sometimes understanding specific applications and uses of a product better than the seller!
Business purchases are made for company use, and they are generally based on a rational decision-making process. However, branding can raise awareness of a company's offerings, helping to ensure their consideration along with other competitive offerings.
A B2B purchase transaction may comprise a multi-step decision-making process, involving interactions between multiple players at both the buying and selling companies. The process may include educational sessions and marketing presentations as well as basic sales calls. Customer service considerations begin with the first contact, whether the buyer or seller initiates the contact.
Target markets for business to business transactions are often fairly small and narrowly focused. Especially in these situations, the B2B purchase process is relationship driven, with each party striving to establish the relationship and maximize its value.
Transactions between businesses and government agencies as well as those between businesses and non-profit organizations share many of the same characteristics as B2B transactions. In a broader B2B context, office products and imaging services retailers such as Staples and Office Depot serve the small business market.
On B2B-Menu.com, you will find information about products and services, such as commercial real estate and institutional furniture as well as accounting and advertising services, that are traditionally associated with Business to Business transactions.
Reference:
B2B menu (Online) (Cited 27 February 2011)
