Definition: B2B, or Business-to-Business, refers to commercial transactions between businesses, such as manufacturers and wholesalers, or wholesalers and retailers. It involves the sale of products or services from one business entity to another, rather than to individual consumers.
Characteristics: B2B transactions typically involve higher volume orders, longer sales cycles, and more complex negotiations compared to B2C (Business-to-Consumer) transactions. These interactions often require detailed contracts and agreements, and the decision-making process may involve multiple stakeholders within the purchasing organization.
Importance in Marketing: In B2B marketing, strategies are focused on building relationships, demonstrating product value, and addressing the specific needs of other businesses. Marketing efforts often include content marketing, direct sales, networking, and participation in industry events to reach decision-makers and influencers in target companies.
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