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Business Online - Essay Example

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Business to business E-commerce is a relatively new and an n innovative concept of growing and expanding business in this IT era. The Internet has enabled business to communicate across countries without the use of traditional phone calls or faxes. In this paper, I will analyze the different trends and strategies which are being practiced in business to business e-commerce, and will also prove that though business to customer is considered to be the marketing giant, it is actually B2B communication and product promotion which really boosts profits for any company.
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Trends And Current Strategies In Use Of B2B E-Commerce Business to business E-commerce is a relatively new and an n innovative concept of growing and expanding business in this IT era. The Internet has enabled business to communicate across countries without the use of traditional phone calls or faxes. In this paper, I will analyze the different trends and strategies which are being practiced in business to business e-commerce, and will also prove that though business to customer is considered to be the marketing giant, it is actually B2B communication and product promotion which really boosts profits for any company.
The main purpose of any business establishment is to maximize its profits. Nowadays companies utilize business to business e-commerce for all kinds of profit-maximizing reasons, which includes, obtaining more competitive rates, satisfying its customers more efficiently, for expanding, displaying their business related adds or brochures, assisting in customer support and most importantly to manage their supply chains.
The main trend in B2B e-commerce that dominates the business market in this computer age is the use of a webpage, more specifically known as a company's website. A true business entrepreneur would come up with a site that carries detailed information about the services that its company offers, enables visit to buy products or services online. This is due to the reality that online buying, selling, and trading is extremely fast and convenient. Consumers, even giant business establishments, are inclined to make dealings in the most fitting mode. Thus, the easiest mode to enhance profits is through a company website.
This exchange of thoughts and sharing of contacts affect business giants such as Microsoft as well as a local business as small as an online Auto parts sale. It is true that when businessmen want to hire services or make a purchase, they are hardly ever concerned with the way the thing is presented. As happens in B2C marketing that wrapping up rubbish in a shiny paper would also do good business. The business are concerned about the quality that they get in the least possible price. This is usually the driving force behind any order made or commodity bought. In such a scenario it becomes imperative that businesses target other companies to sell their product, as the orders placed are huge and unlike a customer buying it, would generate large and healthy revenues. If it were not for B2B e-commerce, little local firms whose main profits arrive from e-commerce would have small probability of endurance in today's corporate-dominated markets. These firms survive by offering good quality to business giants in lower prices that is again an example of B2B interaction. This means of trade allows these undersized companies to develop their business trade and customer-base almost a hundred times.
An e-marketer's business-to-business report summarizes the following very important points:
Line56 Research has found that more than 81% of businesses are buying online directly from suppliers' websites, while 35% are purchasing via public exchanges
41% of survey respondents to a study by AMR Research said that their company has plans to join a public exchange, while 16% are already participating in one
Purchasing magazine has found that 78% of professional buyers in the US have done some online buying in 2001 (Leggie,
Another businessman shares his personal experience when he states " After years of stagnant and sometimes slumping sales, our year 2000 sales were up nearly 100% from 1999 sales and up nearly 200% from 1998! And, the "FACT" is the e-commerce information provided in this course has helped us generate a Return-on-Investment of over 11,040% (on the price of the course) speaks more than any other endorsement I can give."(Coble,
From the above-discussed things we can easily derive that business-to-business interaction is far more vital than B2C and that it is no doubt E-commerce that has enabled business establishments to correspond over oceans digitally.
Works Cited
Coble, Ron 2003: Business To Business Ecommerce -International Trade Internet Marketing Strategies, Cobel International, USA.
Legge, Peter 2001:The State Of business-to-business E-commerce, NewYork. Read More
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