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Whether doing business online or in a physical store, without a clear and concise marketing plan a firms product or service will only last a short while. Firms understand the importance of research and development in the overall scope of business strategies online or in physical locations. Questioning who a firm will be selling to, which products will sell easily online, how many competitors are out there and how will information get to the masses are the beginning stages of determining a niche market for a firm and a function that must be performed to compose a solid plan of action. No matter what type of business a company is trying to open, strategies on how it will perform and what people or businesses it will market the product or service to is the key to overall success within the particular business sector.
B2B strategies are clearly focused on more of the supply-chain management side of business transactions. Portals are set up to connect clearly, suppliers with distributors of like items and things that are usually purchased together from B2B. Businesses like wholesalers, manufacturers and distributors are all types of B2B firms online. B2B transactions involve many key players in an organization to make a decision as well as usual high dollar value for the product or service being purchased. Purchase orders that are signed of by higher ranking officials within an organization are usually standard operating procedure for those in the B2B electronic world. B2B firms are interested in streamlining processes and trying to go paperless by using the Internet and websites to generate the invoice, statement, restocking, e-transfer orders and make payments directly on the websites.
"B2B organizations have a critical advantage over B2C because they have a better idea of who their customers are and can measure the dynamics of acquisition, retention and optimization with considerable precision." (Munoz, 2004) Bottlerocketpost.com is an outstanding B2B website that specializes in commercial development of online editing and effects for website and web movies. According to WebAward.org, this B2B website was named the 2006 winner of the Web Marketing Associations best website overall. Another example of a B2B website is in the banking industry, Netbank.com offers business banking from the palm of their hand by linking a PDA or other personal database directly to bank files enabling business banking to streamline and be easier to do.
Electronic
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