| Many people often employ the term ‘global | | | | that involves many people. Therefore, companies use |
| sourcing’ without actually understanding it fully. | | | | various marketing strategies to involve many players in |
| Global sourcing involves multinational purchasing, online | | | | the target section. Components, raw materials, |
| marketing and also finding global market for the | | | | equipment and processing services are marketed. As |
| produced goods. B2B market is also a part of global | | | | B2B markets only target other businesses, they have |
| sourcing. Business to business marketing depends on | | | | more targeted markets than other B2C marketers. |
| the suppliers online exchange notion, the product and | | | | -Risk factors and marketing strategy in B2B market |
| sales concept and also the turn of production theory. | | | | To be successful in this competitive world of business, |
| B2B market involves the marketing of goods and | | | | suppliers online should have very good product with |
| services online which in turn helps other companies to | | | | best technology and competitive process. Along with |
| market or buy products. Manufacturers, suppliers online, | | | | this they should concentrate on B2B marketing |
| resellers, the government and many more non-profit | | | | strategy. If they have effective marketing strategy, |
| institutions are the common examples of B2B markets. | | | | then identifying, segmenting, locating and quantifying |
| Converting prospects into future customers is the | | | | B2B customers becomes easy. Only by adopting B2B |
| important objective behind B2B market. B2B | | | | marketing techniques, small business can get help from |
| companies also make some money with this customer | | | | global sourcing. |
| base. | | | | Multinational purchasing is one of the fastest |
| -Advantages of B2B marketing | | | | developing trends of B2B market. New technology |
| Global sourcing helps business to business marketing a | | | | brings more companies together and these companies |
| lot. Because of the multinational purchasing, the B2B | | | | then start to expand their business through global |
| companies make profits based on other’s | | | | sourcing. Technology brings the world closer and so |
| businesses. A non-profit organization is a best example | | | | proper understanding and applying of the B2B concept |
| for a B2B market. Here, they operate with the | | | | is important to establish a successful business. |
| assistance of private donations. Also, it gets money | | | | Suppliers online should maintain the relation with their |
| from corporations and through government funding. | | | | counterparts through B2B market techniques to run |
| Due to these reasons, a non-profit organization makes | | | | their business in this competitive world. There are |
| itself and its products and services attractive not just | | | | major differences in B2C marketing and B2B |
| to the common people, but also to the entrepreneurs. | | | | marketing. The involvement of many people in the |
| A B2B market mainly focuses on relationship building | | | | decision making process makes B2B marketing very |
| with suppliers online through its marketing activities. | | | | complicated. So, global sourcing should be done with |
| Multinational purchasing in B2B is a multi-step process | | | | caution and perfection. |