B2B portal is the online directory or one stop shop for the manufacturer, suppliers, traders, secondary consumers. It facilitates global buyers while connecting them to global suppliers and direct manufacturers or vice versa.
For example, a farmer produces cotton to supply it to garment industry and which after processing forwarded to textile industry for fabrication which in turn supplied to traders and ultimately to retailers or whole sellers for further final consumption, hence B2B portal is the online hub or market of all such producers and consumers. It facilitates commercial transaction between two or more than two businesses.
In the last decades, this B2B portal development has been emerged as the fastest only stop of shopping for not only buyers but also for the seller and retailers. The B2B has changed itself in the last years and it has improved many applications in the portal. People now get more navigation while shopping or visit the B2B portal websites as it gives an immense pleasure of shopping.
Now days it is the primary requirement of all business persons, as one can easily approaches world wide/global data base of all primary or secondary intermediaries. Commerce becomes easy in between global producers and consumers, between manufacturers and retailers or between retailer and wholesaler.
One can approach directly to each other and check the business modalities. Any particular industry corporate need to do several B2B transaction like an automobile company need to deal with electronic industry for gadgets, chemical industry for paints, glasses, metal industry for body material, rubber industry for tyres or rubber hoses etc. for its vehicle and for such interactions these B2B portal serve well to them by allowing such corporate to deal with diversified global suppliers data and vice versa.
Portal is the part of e-commerce and must comprise few special features to assure the facilities of visitors to make it aloof and effective. It must cover full range of products and services with complete specifications and pricing, clear know how about planning, processing, production or capacity, their renounced customers, serving suppliers, experience in the field, contacts and competitors.
B2B portal must be concerned about brand differentiation as the buyers are now very much specification driven and choosy, they are now smart and knowledgeable to buy the products. Buyer is having good knowledge of product specifications, they are more aware about the required features and costing levels. Buyers are regularly monitoring the market which enhances their knowledge about product and requirement, so, it is very important that brand should be very cleared and targeted as per the approachable segment.
Portals fasten the commercial activities now one need not to look for door to door buyers and manufacturer, one only need to become the member or register himself to such B2B market to visit such portal and find the required data base of dealers, manufacturers, brokers etc. without wasting much time, labor, money in visiting here and there rather may earned wealth from the saved time and available data.
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