Business-to-business (B2B) refers to a type of commerce or transaction that occurs between two businesses rather than between a business and individual consumers.
B2B transactions involve the sale of goods, services, or products from one business to another. These transactions often involve larger quantities, higher values, and more complex negotiation processes compared to business-to-consumer (B2C) transactions.
B2B relationships are often characterised by long-term partnerships and a focus on building strong, mutually beneficial relationships. Trust, reliability, and consistent delivery of quality products or services are key elements in B2B interactions.
These transactions frequently involve customisation and personalisation of products or services to meet the specific needs and requirements of the buying business. This can include tailored solutions, negotiated contracts, and specialised offerings.
Marketing strategies focus on reaching businesses through targeted channels such as industry events, trade shows, business publications, and digital platforms. Marketing messages emphasise the value, efficiency, and business impact of the products or services being offered.
An example of a business-to-business (B2B) transaction is a manufacturer of electronic components selling its products to a smartphone production company. In this scenario:
We work with world class partners to help us support businesses with finance
UK
IRE
AU
CA
US
ZA
yet? Register here!