Buyer Seller Relationship In B2B Marketplace

In sales and marketing concept, the term business-to-business is a way or methods to describe the transactions that take place from one company which is communication with another company. The transaction may be a trade of goods or service but it only affects the two businesses. A business-to-business (B2B) trade or transaction is similar to a wholesale transaction whereas a wholesaler sells to a retailer, or a brick and mortar business.

A B2B trade could be in the particular categories such as two retailers, two wholesalers or with any combination. Nowadays, Business-to-business marketers promote goods and services that will help other companies run. Some of the things businesses produce for other businesses include equipment, components, raw materials, processing services and supplies. Business-to-business marketing is currently one of the fastest-growing areas of marketing.

A typical problem with relationship management in a B2B environment is that implementing companies often see the relationship only from their own perspective. In other words, the supplier decides which customer is worth treating as a key customer, without involving the customer in this decision, or vice versa. As a result, even resource-consuming key account customers might move to competitors if they do not value the relationship in the same way as the supplier and see an opportunity to save costs by switching sources.

Trust exists when one party has confidence in an exchange partner’s reliability and integrity, which is associated with qualities such as consistency, competency, honesty, fairness, responsibility etc.

As soon as trust is build up, firms learn that coordinated joint efforts will lead to consequences that exceed what the company would achieve if it acted solely in its own nice hobbies, occasionally willing to temporarily postpone the receipt of its very own advantages until a few later time So believe is a operating courting, and this reality has repercussions at the company’s actions. These repercussions may be defined because the firm’s notion that some other business enterprise will perform actions with a purpose to result in advantageous consequences for the company, in addition to not take surprising actions that could result in poor outcomes or risks for the company. Consider is critical to all relational exchanges and is the cornerstone of the strategic b2b partnership.

Perceived threat is greater stated than in conventional commerce. The electronic gadget—the internet—that is a relatively new and complex generation, whose safety troubles are regularly the capacity marketplace companions—the web providers—who have the possibility to act opportunistically, and effortlessly check in and tune client facts; and who regularly have now not yet received tons enjoy with this shape of shopping, and therefore have not gathered sufficient applicable know-how about potential market partners as well as the manner of a way to keep on-line.

Trust may take on a heightened importance in e-markets because of the spatial and temporal separation between buyers and sellers imposed by the medium. An Internet transaction does not typically involve the simultaneous exchange of money and goods, but instead they are transmitted from different locations and different times. When selecting a supplier, a customer must beware that the other party may be an expert in attracting traffic and in making credit-deposits card, but not in actually delivering goods.

So, given the augmented perceived risks in the electronic environment, trust is even more important to long-term relationships between firms and their customers than in the traditional marketplace, and is a main determinant in the development of partners’ cooperative efforts and actions.

Invest in Asia – Unlocking the Power of Business

Economic perspectives are now very good in Asia. The services economy is now greater than 55% of overall GDP. The focus is increasingly on sustainable growth and corporate profitability boding well for better return on investment. China’s role as the locomotive of global growth will pass to India.

Investing in the Asia Pacific region includes a wide range of countries, including more developed countries such as Singapore and Australia, alongside China and Taiwan, for example. Large-cap Australian companies, particularly in the financial sector, are well capitalized and have track records of paying consistent dividends.

Often more developed countries make up a large proportion of any Asian income fund, which may help offset the risk from holdings in some of the smaller, less developed emerging market economies.

India will be the fastest growing major emerging markets economy going forward and the No.2 economy by 2050. The country benefits from demographics, a newly energized central bank that is focused on reducing inflation, and strong foreign investment.

Bangladesh continued to experience growth in FDI inflows, with manufacturing accounting for a major part of inflows and contributing significantly to employment creation. Bangladesh also come up with huge potential and now good place for foreign investment – improving their social and economic situations as well as reform some investment policy and give lots of opportunities to foreign investors. Areas of reform include increasing infrastructure spending, opening up sectors to foreign direct investment.

In South-East Asia labor costs are considerably lower compared to North-Asian countries such as Korea, Taiwan, Japan and China. Thus, FDI (Foreign Direct Investment) flow towards SE-Asia is naturally increasing at healthy pace as new factories are being set up in low-labor cost countries. In addition, a young and growing middle income class is also attracting FDI as companies wish to be closer to the customer.

In addition, the potential establishment of the Bangladesh-China-India-Myanmar Economic Corridor and the China-Pakistan Economic Corridor are likely to accelerate infrastructural development by attracting foreign investment in related countries.

New global projects such as Silk Road Economic Belt and Eurasian Economic Union give to countries of the region new opportunities for economic development and entry into new markets. Economic success in the future will depend on whether regional countries manage to seize the given opportunities.

General Characteristics of B2B and B2C eCommerce

E-commerce encompasses the use of technologies, processes and management practices that enhance organisational competitiveness through strategic use of electronic information. E-commerce is, thus, a modem methodology that addresses the need of organisations’ merchants and consumers.

eCommerce Characteristics

a. The business tools are electronic and the application is commerce, i.e. profit motive.

b. Business is externally focused on those with whom business is conducted.

c. Most of the transactions are processed automatically.

d. Uses a gamut of business support services, such as inter-organizational e-mail and on-line directories.

B2B E-commerce

A B2B website’s major concern is about the supply chain management. The main function of the web portal is to allow companies to deal directly with their online suppliers and distributors.

B2B E-commerce deals with other companies, not with the general public. Wholesalers, suppliers and manufacturers are included in this category.

The main characteristics of B2B e-commerce are:

- The creation of a long term partnership
- Small-sized and easy to identify target market
- Longer purchase process
- Decision-making based on the quality of the service rather than the price
- An audience more aware of the industry

As B2B marketing is more focused  on relationships, e-commerce implies more contact points such as e-mails, newsletters, on-line magazines, case studies, white papers and other tools for loyalty development.

B2C E-commerce

A B2C website is more an intermediary portal to connect directly consumers with suppliers. This type of e-commerce is mainly concentrated on the sale to the final consumer via the Internet support.  We can quote as an example websites such as Amazon, or still who present products and services(departments) dedicated to the general public.

The main characteristics of B2C e-commerce are:

- Real price comparison
- Large-sized target market
- Short decision-making process
- Decision-making based on emotion
- A weaker customer loyalty to the retail website

The marketing B2C involves motivating  prospects by preferential rates (special offers, loyalty programs, coupons or exceptional discounts).

In order to reduce the price during the decision-making process, the seller can count on an excellent quality of customer service or on a development of the offer which increases the loyalty of customers.

How IT Services Help Financial Management

Financial management is concerned with planning, executing, and controlling financial activities and involves sourcing and using funds for business units. Effective financial management is realized through timely investments and is of critical importance to the successful operation of any business. Financial management is also closely related to national and international economies.

Banks and insurers have some of the greatest digitization potential of all, given that they have been collecting, processing and connecting data on clients and transactions since the year dot.

Specifically, analyzing macroeconomic information, such as interest rates, foreign exchange, inflation, income growth, and unemployment rates, leads to a better understanding of financial and business markets. This information, in turn, allows businesses to more effectively manage their financial activities.

The indications are that interest in more responsible IT Services is increasing; creating new business opportunities and differentiation in the market as leading practitioners use social marketing to distinguish themselves and appeal to more discriminating markets.

IT Service providers perform even better to stand out. Companies that do not keep up with improved standards may struggle in the future as sustainability becomes a more mainstream issue.

As technology integrates even deeper into consumers lives, the banking and finance industries are seeing profound residual effects. Mobile banking and payments are gaining traction and fewer people are visiting banks’ branches, while new software and automation programs are streamlining work for businesses and individuals.

In the future, the finance industry will look differently than it does today. Jobs will now be lost to software automation technology. But this doesn’t mean that there won’t be new jobs. Skills will need to be broadened, and jobs as they currently exist will evolve. And this is highly prevalent with financial institutions adopting new technologies such as the cloud, or new tech solutions. Security and compliance will be a major focus area – people will need to monitor and ensure the institutions are taking the necessary steps and precautions.

Online Trade and eCommerce Product Management for Maximize Business

Online trading is basically using the power of the online world to sell almost any type of goods; it may be a tangible commodity, a service or any kind of product. Before start an online trading venture, be sure to make up a concrete plan. And an essential step in making a real business stratagem is to identify the products which would sell big time.

Ecommerce become one of the simplest, secured and fastest ways to sell or buy products. An industry that have given boom for the sellers to find more customers, sell products and get paid online easily.

A trading or retail company always wants to attract more customers in order to sell their products and increase revenue. This has become very simple to achieve through Ecommerce. Selling products online brings more clients with higher profit margin, better customer support and managed process.

Product catalog management is an important aspect of an eCommerce solution. It manages all your products under one roof, ideally it should come with batch import and export functions, and this is an important feature when you have many products to be uploaded onto the website. This feature can help you reduce valuable time by doing a mass upload/download of products onto your server.

Imagine how much time can be wasted if you need to upload 3000 products onto your server manually. The catalog should also allow you to manage the prices of your products easily. It should also come with a scheduler to allow you to schedule the prices of your products automatically. When browsing your catalog, the system should also come with a filter and built-in search facility that can help you locate your products easily.

Depending on the type of products you sell on your online store, a well-designed shipping and delivery module is important for your eCommerce site. The delivery/shipping module is 2nd most important feature for the end customers.

The system needs to allow your visitors to select the types of delivery options for his/her order, the system also need to auto calculate for the visitor the shipping charges.

Payment module is the one of the most important feature in an e-business system. Getting paid is the ultimate aim of most eCommerce site selling products and subscriptions. Your eCommerce system needs to support the major payment gateways and systems available.

Developing your eCommerce site

People believe that getting an Ecommerce website developed is difficult task, which actually is not true. All you need to do is find the Best Ecommerce Development Company in your area and ask for the solution that suits best in your company.

The most important thing is choosing the right company to develop a website for you. Selecting a company requires seeing experience, websites developed in past and knowledge about your industry. A company that’s good with Custom Ecommerce Development should be your first choice.

While planning eCommerce trade business strategy you need to remember that eCommerce just enhances and complements your present business model but the fundamentals of your business remain the same. So, proper use of online product management help you to maximize your profits, even capturing those visitors not interested in your main product too.

Automation in Textile and Garment Manufacturing Industry

The textile industry, which has been around for centuries, has made many strides thanks to the advent of automation. The term automation is defined as the use of equipment and machinery to help make production easier and more efficient.

Automation made it possible for the same tasks to be performed but with fewer hours of labor for employees. For example, inventions such as Eli Whitney’s cotton gin made it possible to separate the seeds from cotton without using manual labor. Similar inventions of automation were created with the purpose of making textile-related jobs easier to perform and with less human labor.

The very important area for Automation is the dyeing process, because it involves lot of minute parameters which are very critical. Even in milligrams variation of recipe can change the shade of the fabric. All the parameters for dyeing like temperature, pressure,water level, water flow, circulation and time of treatment are most important.

Modern technologies for textile and garment finishing based on electrical and electronics, computer programmability and smart systems show great potential for textile applications and currently aim to the achievement of important objectives such as flexibility and quality

Technological advancements have helped the application of new concepts in garment manufacturing, which includes high sewing machine speed, CAD and computer- aided manufacturing (CAM) applications, new techniques in cutting, fusing, and pressing, and application of robotics.

Automation plays a very important role than just to reduce the labor costs. Our most important aspect is to get a higher product quality.

By introducing the new technologies into the process of garment production, a substantial increase in productivity and quality of work can be achieved. Consequently, the clothing industry is being transformed from a traditional, labor-intensive industry, into a highly automated and computer-aided industry.

Structured Trade & Export Finance

Structured Trade Finance (STF) is an alternative mean of providing trade financing facility so as to overcome the difficulty of obtaining conventional financing products. STF transactions are structured around the supply chain & customer’s commercial terms – involving large bilateral strategic relationships.

Structured Trade Finance

Purchase of receivables which is an off-balance product for the financing of deferred payments granted by an exporter to a buyers of products, leading to:

- Immediate liquidity;
- Balance sheet optimization for you as the seller of receivables; and
- Transfer of political and commercial risk.

Export Finance

- Specialized arrangement and advisory for financing the exports of capital goods and related services focusing on emerging and newly industrialized countries
- Broad experience with worldwide exports
- Established and proven relationships with key financial institutions and importers in several countries
- Advantage of access to national and international assistance schemes and insurance instruments
- Wide product range comprising all varieties and combinations of medium- and long-term financing, including: Buyers’s credit (with/without ECA cover), downpayment and financing of local costs, Framework Agreements, Multisourcing in Export Finance, Kyoto Protocol

Structured Trade Finance (STF) is an alternative mean of providing trade financing facility so as to overcome the difficulty of obtaining conventional financing products. STF transactions are structured around the supply chain & customer’s commercial terms – involving large bilateral strategic relationships.

Pre-export Financing

- Financing to facilitate the need to procure raw materials for trading and manufacturing prior to export. Payment can be made to suppliers using Letters of Credit, Bank Guarantees etc

- Financing to facilitate the need to procure raw materials for trading and manufacturing prior to export. Payment can be made to suppliers using Letters of Credit, Bank Guarantees etc.


How to Develop B2B Digital Marketing Plan

B2B Customer expectations have grown significantly over the last few years based on the ease and immediate gratification of locating information in their personal lives. Consumers now expect the same high level of service and convenience in their work lives.

Having a marketing plan is key, as it will help you remain focused giving a competitive advantage. To get started, have a clear target audience. These prospects can be identified easily at a higher level, however, in most cases, the product can appeal to multiple users all with different needs.

Big b2b portals include all information of product groups in almost every sector. They are great mean for global trade, or instead for manufacturers, suppliers, exporters, wholesaler, buyers, importers. Above all, they are more favored by medium and small companies.

For global buyers, they could find their perfect suppliers and manufacturers and post their buy trade leads in these e-commerce website portals. Because there are so many providers available to global buyers. Meanwhile, those suppliers are website members or users. Who offer every suitable internet or online tool for their further business discussion.

So, invest wisely in online marketing plan and digital marketing for b2b business, it is important to take advantage of the ones that can amplify your efforts. Traditional marketing tactics are no longer enough to stay competitive.

Online product catalogs and websites are rated as top decision advertising touch point by customers. In that light, you should make the site count. Create a friendly B2B website that you’ll use to test and refine your approaches.  It has to be enduring, meet visitors’ needs alongside achieving leads and standout for the brand/business.

After having moved through an era where corporate marketing meant professional, formal, and perfect, people are now hungry for authenticity. Influencers are people who genuinely find value in your product and want to promote it. They can be powerful promoters, especially if you find ones who have great online reach. The key here is to ensure complete transparency with your community.

Once you understand the digital marketing and seo options that are available, you will be able to identify the ones that will be of value to your business. Put careful thought into exactly how you will use each method and do your homework on costs so that you can accurately budget. Measure your marketing budget against benchmarks to be sure you are not under funding or over-committing.

Social media platforms are the quickest means of connecting with prospective b2b buyers. A recent study shows that 44% of inbound marketers are likely to obtain leads from Twitter, 52% from Facebook and 57% from LinkedIn.

Note, determining what platform to use is more of a continued research but, you can base your starting point on current data from research companies. Later, use Google analytics to determine your SEO SMM technique alongside trailing strategies and implement accordingly.

Finally, if you are incorporating new digital marketing approaches, consider whether you need to rebalance your in-house team vs. outsourced resources and how that will affect your budget planning.

Why and When We Need B2B Market Research

The idea of b2b market research has been around for a very long time. Conceptually, market research is a strong component of overall business strategy. A key element of market research is the gathering of valuable buyer and customer insights. Ideally these insights will result in competitive advantage, innovation, and market leadership.

Every business is different: Businesses are unique, and the decisions they make depend on a variety of factors, like location, industry, company size/structure, and more. Any attempt to lump them together into large groups can provide meaningless results.

Finding the right people: B2B market research may require you to find specific individuals within particular types of businesses, whether they’re decision-makers at a particular level in the company hierarchy, or in a particular department like sales or marketing.

Group decision-making: On the other hand, one of the hallmarks of B2B is that decisions are not typically made by a single individual, but rather, by groups of people who may each have different objectives. Therefore, you may have to survey people across a wide range of departments.

Time is short: The right people to ask about high-level strategic questions are typically executives or business owners, who are extremely busy. In other words, you’ll have to deal with busy professionals who may or may not have time to answer your questions with the level of detail you need.

To spell more, the essence of B2B and industrial market research is the requirement to …

.. access a limited number

.. of very busy and important experts in their field

.. who often reside off the grid

.. and may be located anywhere in the world

.. with no reason to want to talk to you

.. whom you must convince to talk with you

.. and divulge semi-confidential details about their organization’s activities

.. from which you must be able to ascertain and explain complex decision-making

.. involving multiple individuals and departments if not organizations

and you must have sufficient knowledge of their business environment to be able to moderate that technical or complex conversation

Ultimately interpret what they told you in the right strategic framework and business context – both online and offline.

Market research involves finding out about things you need to know such as import duties, regulations, distribution channels, market size and growth, competition, demographics and local production – so you can assess market opportunities and the costs of capturing them.


Sales vs Marketing – B2B Experience

AND what does customer experience really look like for B2B companies?


Customer experience is relatively new battleground for B2B companies. its scope and relevance are not purely restricted to the narrow field of digital engagement immediately around the purchase: it affects the entire sales cycle, before need has even been identified, and long after the cheque has been signed. As we know, this is likely to be a matter of years, touching many different individuals.

Now b2b service providers update their marketing channel and model, which challenges the traditional model to marketing and sales, creating a collaborative marketing and sales strategy that creates a cohesive and smooth customer journey. B2B Sites like Alibaba or Bizbangladesh offer marketing channel like B2B Business Directory, B2B Trade Zone and B2B Product Zone etc.

It’s true that sales and marketing work hand in hand in almost the same way, but they still got dissimilar definitions. For business owners, in taking note of the differences, they can easily move toward both areas smoothly. Particularly for b2b (business to business) firms, the entire selling process would be tough to materialize if not business appointments are completed in order to contact the prospects.

Only half of B2B marketers have mapped the experience that their customers will have with their organization, and only one in five have actually determined what it should look like at each stage. This means most brands have no idea what customers are experiencing at different points in this complex service, and whether this is good, bad or downright ugly.