The Computer Revolution/E commerce/B2B
The Business-to-Business Model is known as B2B; one, two or more businesses are involved in an e-commerce transaction for goods or services. Some possible transactions that can be done include businesses buying the required products and services for their operations, in addition to purchasing manufacturing supplies and raw materials. This is a global trademark for all types of businesses; distributors, suppliers, retailers, manufacturers, and others for the purpose of saving money and participating supply and demand. Business partners will sometimes distribute, exchange and/or track information. This is also a way of making connections with various business partners. Also, the companies involved advertise or market products online for us consumers to purchase. It is also considered business or industrial marketing. These businesses bring buyers and sellers together eliminating the need for the middle man. They are called intermediary hubs and assist single businesses with other businesses selling certain products or services. The intermediary hubs receive fees either depending on the amount of the sale or just a monthly or annual fee. Several small businesses can form a group where they could buy in volume and receive discounts in order to compete with larger companies. This is an advantage because if you are singular you would be paying a higher amount for services and goods. Vertical hubs are intermediary hubs that specialize in a specific industry, such as healthcare, seafood, or automotive hubs. Horizontal hubs are intermediary hubs that specialize in a specific type of product or service that is used by multiple industries.
The B2B business model is one of the most prominent models used in the marketplace. Its revenues are expected, and have begun to, surpass those of the B2C model, the one that was initially thought to be much more prominent.