business-to-business transactions
Business-to-business transactions, often abbreviated as B2B, refer to exchanges of goods or services between two businesses rather than between a business and individual consumers. These transactions can involve wholesale suppliers selling products to retailers or manufacturers purchasing raw materials from suppliers. B2B transactions typically involve larger quantities and higher values compared to business-to-consumer transactions.
In B2B transactions, the sales process often includes negotiations, contracts, and longer sales cycles. Companies may use various platforms, such as online marketplaces or direct sales teams, to facilitate these transactions. Effective communication and relationship management are crucial for successful B2B interactions, as they can lead to long-term partnerships and repeat business.