B2B marketplace (Business to business marketplace), a platform where business oriented people like manufacturers, suppliers, exporters, importers, service providers, buyers from different industries conglomerate for mutual trade interests and perform various trading activities. It is a hub for business community, where traders can meet people with similar trade or business profile and crack new deals. B2B marketplace is an ideal platform where one can get the niche market players. One can find entrepreneurs from different segments accredited with the factor of trust and market reputation. B2B marketplace isn’t just a platform but a hub for business community with opportunities at galore. The members of the marketplace themselves act as monitoring body, thus minimizing the probability of fraud.
Combination of Internet & B2B marketplace introduces global avenues to local traders and business oriented people. B2B marketplaces on internet, or what we can say online B2B marketplace, has redefined the global business. Now business is as easy as a click of button, and all the resources are easily at a common place. Small and medium enterprises get a great boost up. Now entrepreneurs can invest and thrive at global level with much lower investment. It has given businesses an opportunity to leap all the geographical bounds and create an identity in the competitive market. This again helps the economy of developing nations like India. As country’s economy very much depends upon the growth of its micro, small and medium enterprises.
In last few years many online B2B marketplaces came into existence. The evolution of marketplace forced the other online peers to offer better online solutions to their users or members which ultimately helped the users to get best possible services. In China, we have Alibaba which attracts the buyers and suppliers not only from China but also from all across the globe. We also have other B2B marketplaces from China like Made In China and many others. The manufacturer’s directory provides free listing to its users, which in turn reciprocates to business inquiries based on the individual requirement.
The role of B2B marketplaces on internet is incredible. It is credited to bring unbelievable business opportunities to local small and medium enterprises. Online B2B marketplaces enables small and medium enterprises to post their buy leads and receive respective trade responses from global traders.
B2B marketplaces on internet or what we can say online B2B marketplaces, is a revolutionary concept that has redefined the global business.