Making use of B2B networks for international trade

Making use of B2B networks for international trade

Business to business, alternatively known as B2B is the exchange of information, products or services between businesses, instead of between a business and a customer. B2B websites can be classified as company websites, products supply and procurement exchanges, specialized or vertical industry portals, brokering sites and information sites. B2B usually implies e-commerce transactions between businesses. B2B can also be viewed as transactions that take place within an industrial value chain prior to it that the finished goods are sold to the consumer or end user. The term B2B not only describes the final transactions between businesses that take place as a result of marketing, but also the marketing activities between businesses. Examples of B2B are tyre manufacturing suppliers which provide tyres to an automobile company.

B2B networks can be very useful for international trade. As an example, let us consider a textile factory located in China which wants to export its products to a garment factory based in India. For this purpose, a B2B network acts as an interface between them. A b2B network helps both the factories locate each other according to each others' specifications. A B2B network helps the importers to locate the wholesalers or manufacturers. At the same time, a B2B network also helps the wholesale exporters to search and contact the importers for a particular product.

A B2B portal carries all the relevant information about a product or a service provided by a business which can be of use of other businesses. The business type and the service rendered by a B2B network are used to categorize it. A B2B network serves as a platform for businesses where they can list their products or services and hence attract potential customers. In other words, B2B networks serve as meeting places for buyers and sellers all over the world.

A very important aspect of B2B portals is cost effectiveness. It is not always possible for companies based in different countries to catch their business deals through advertising. Companies can not afford to spend huge sums of money on advertising and wait for the results. B2B networks prove to be really helpful for such companies. Such companies can get themselves registered with B2B networks and hence conduct their business. Most of the B2B networks provide two different kinds of memberships for companies, wholesalers and suppliers, first of which is basic membership which is free of cost, while the second is premium membership which charges a fixed amount for registration and provides enhanced access to trade leads.

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