Types Of B2b Marketplaces

By Author: Indian Industry
Total Articles: 163
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No doubt, B2B portals have become ideal platforms for showcasing and selling a wide range of products that can provide immense exposure for both small and large scale businesses all across the globe. Online business portal provide a creative brief will remain displayed for 24 hours a day that means wider exposure. Being online, buyers can automate their order and payment processes. From sellers' perspective, it is one of the most environment-friendly ways of advertising and promotion as it does not need to print newsletters or leaflets or even bills. Going online is the powerful, fast and efficient marketing and communication tool and medium for any kind of business. Online marketplace requires minimal startup time and investment. It provides opportunities for overseas sales and helps strengthen business. Advantages of B2B marketplace may vary between industries and businesses. It also helps build greater opportunities for suppliers and buyers to establish new trading partnerships.

There are different types of of B2B marketplaces exist in today's business world. Public marketplaces, ...
... private portals, vertical and horizontal portals are some types of online marketplace. Online marketplaces can either be public or private in nature. In a private marketplace, sellers restrict membership to preserve some affinity of a specific product or service. On flip side, public marketplaces is just opposite to private marketplaces. Public marketplaces are open for all. Marketplaces can have a horizontal or vertical focus. Horizontal marketplaces sell a diverse collection of goods or services to prospective buyers whereas vertically aimed marketplaces cater around a specific product or service.

With so many marketplaces, selecting or choosing a right kind of b2b marketplace is not an easy task. There are some points that one must keep in mind while selecting any type of online business marketplace. Firstly, one must decide that what type of marketplace is required. Which one is better – Private or Public marketplace? Public marketplaces are good choices for sellers and buyers interested in ordinary and basic goods and services. Private marketplaces are targeted for specialized goods. Vertically focused marketplaces are best suited for specialty products or services. On the other hand, horizontal marketplaces generally offer the largest community of sellers and prospective buyers and the greatest cross-section of goods. Its potential doesn’t restrict to this level only, but it also offers greater transparency in the purchasing process that includes availability, prices and other related information about a product. Updated information on price and availability helps prospective buyer to secure the best deal available.